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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Michelin    ML   FR0000121261

MICHELIN

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

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02/11/2019 | 12:30pm EDT

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 (EUR)
Sales 2019 23 779 M
EBIT 2019 2 995 M
Net income 2019 1 842 M
Debt 2019 4 814 M
Yield 2019 3,82%
P/E ratio 2019 10,1x
P/E ratio 2020 9,07x
EV / Sales2019 0,98x
EV / Sales2020 0,94x
Capitalization 18 473 M
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Technical analysis trends MICHELIN
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 115,58  €
Last Close Price 103,20  €
Spread / Highest target 30,8%
Spread / Average Target 12,0%
Spread / Lowest Target -22,6%
EPS Revisions
Managers
NameTitle
Florent Menegaux Chief Executive Officer
Michel Rollier Chairman-Supervisory Board
Marc Henry Chief Financial Officer
Terry K. Gettys Executive Vice President-Research & Development
Eric Philippe Vinesse Executive Vice President-Research & Development
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