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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Michelin    ML   FR0000121261


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

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02/11/2019 | 12:59pm EDT

(Updates to add net profit result.)

   By Olivia Bugault 

Compagnie Generale des Etablissements Michelin's (ML.FR) after-tax and net profit both dropped in 2018, dragged down by a challenging economic environment and adverse currency effects, the French tire maker said Monday.

After-tax profit slipped to 1.66 billion euros ($1.87 billion) last year from EUR1.69 billion a year earlier, the company said. Net profit fell to EUR1.68 billion from EUR1.70 billion last year.

Revenue rose to EUR22.03 billion from EUR21.96 billion, it said.

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.

Michelin shares lost roughly one-fourth of their value to EUR90.76 in the last 12 months, in line with a similar decline in the STOXX Europe 600 Automobiles & Parts index as the whole sector is buffeted by trade wars, a slowdown in Chinese production and the emergence of new disruptive technologies.

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 3,85%
P/E ratio 2019 9,99x
P/E ratio 2020 9,00x
EV / Sales2019 0,97x
EV / Sales2020 0,93x
Capitalization 18 339 M
Duration : Period :
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Technical analysis trends MICHELIN
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 115,58  €
Last Close Price 102,45  €
Spread / Highest target 31,8%
Spread / Average Target 12,8%
Spread / Lowest Target -22,1%
EPS Revisions
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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