Clermont-Ferrand, France – Michelin is expecting a €100-million negative impact from raw materials costs in 2019, according to its 11 Feb annual results statement.
The French tire maker reported a €158-million rise in raw materials costs in 2018.
The annual results release did not provide data on Michelin’s total materials costs last year, but the figure stood at €5.2 billion in 2017.
The company also expects currency effects to have a “slightly favourable” impact on operating income this year.
In terms of market outlook, Michelin said it anticipated passenger…