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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Michelin    ML   FR0000121261


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Michelin Shares Jump on 2018 Results

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02/12/2019 | 04:15am EDT

By Pietro Lombardi

Shares in Compagnie Generale des Etablissements Michelin and other tire manufacturers trade higher Tuesday after the French company's results for last year and its outlook for the year ahead lifted investor worries over the sector.

The French tire maker reported a net profit of 1.68 billion euros ($1.90 billion), slightly below the EUR1.70 billion it reported for the previous year. Sales rose 0.3% to EUR22.03 billion, it said.

The company's segment operating income--its key operating measure--rose 11% at constant exchange rates to EUR2.78 billion.

The results "revealed strong organic profit growth on better net price mix and less-than-feared volume weakness in 4Q," Jefferies said.

The company expects its 2019 segment operating income to exceed last year's figure at constant exchange rates. It also forecast structural free cash flow of more than EUR1.45 billion.

The guidance for 2019 is in line with expectations, Jefferies added "but details should drive upgrades to consensus and sentiment."

Michelin shares trade 11% higher at 0839 GMT.

The shares are down 20% in the past 12 months after global auto stocks were hammered by concerns over global trade, a slowdown in China and tightening emissions rules in Europe.

Shares in Continental and Pirelli & C. SpA (PIRC.MI) also gain ground, trading 3.9% and 4.0% higher, respectively.

--Max Bernhard contributed to this story

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
MICHELIN -1.90% 103.2 Real-time Quote.21.34%
PIRELLI & C. S.P.A. -2.00% 5.402 End-of-day quote.-1.75%
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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
Duration : Period :
Michelin Technical Analysis Chart | MarketScreener
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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 103,20  €
Spread / Highest target 30,8%
Spread / Average Target 12,0%
Spread / Lowest Target -22,6%
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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