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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Michelin    ML   FR0000121261

MICHELIN

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Michelin : 2018 After-Tax Profit Fell on Tough Economic, FX Backdrop

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02/11/2019 | 12:30pm EST

By Olivia Bugault

Compagnie Generale des Etablissements Michelin (ML.FR) said Monday that its after-tax profit fell in 2018 after being hit by a challenging economic environment and adverse currency effects.

After-tax profit slipped to 1.66 billion euros ($1.87 billion) last year from EUR1.69 billion a year earlier, the French tire maker said. Revenue rose to EUR22.03 billion from EUR21.96 billion.

The company said currency effects had a EUR271 million negative impact on its results.

Analysts had expected Michelin to post 2018 net profit of EUR1.72 billion on revenue of EUR21.75 billion, according to a consensus forecast provided by FactSet.

Michelin said it will declare a dividend of EUR3.70 a share, up from EUR3.55 last year.

The company expects its 2019 segment operating income--its key operating measure--to exceed last year's figure of EUR2.77 billion at constant exchange rates.

Write to Olivia Bugault at olivia.bugault@dowjones.com

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Financials (€)
Sales 2019 23 578 M
EBIT 2019 3 031 M
Net income 2019 1 976 M
Debt 2019 3 351 M
Yield 2019 3,97%
P/E ratio 2019 9,57
P/E ratio 2020 8,83
EV / Sales 2019 0,93x
EV / Sales 2020 0,87x
Capitalization 18 524 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 118 €
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Jean-Dominique Senard Chief Executive Officer & Managing General Partner
Michel Rollier Chairman-Supervisory Board
Marc Henry Chief Financial Officer
Terry K. Gettys Executive Vice President-Research & Development
Barbara M. Dalibard Member-Supervisory Board
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