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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Michelin    ML   FR0000121261

MICHELIN

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Michelin to Set Up JV Focused on Sustainable Rubber

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09/12/2019 | 01:28am EDT

By Carlo Martuscelli

Compagnie Generale des Etablissements Michelin said Thursday that it is setting up a joint venture with Germany's Continental AG and France's SMAG to develop an application to map natural rubber sustainability practices.

Yesterday, Reuters reported that the Michelin would work with the other two companies to set up a venture to produce tires, citing a document published by Germany's competition watchdog. Continental is a manufacturer of automotive parts while SMAG develops software for agricultural businesses.

Michelin said Thursday that while the collaboration will go ahead, it won't be centered on tire production, but rather on rubber sustainability software.

Further information will be made public soon, Michelin said.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
CONTINENTAL AG 1.41% 126.4 Delayed Quote.4.68%
LONDON CAOUTCH. -12.03% 98.75 End-of-day quote.0.00%
MICHELIN 1.11% 104.35 Real-time Quote.20.36%
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Financials (EUR)
Sales 2019 23 840 M
EBIT 2019 3 027 M
Net income 2019 1 898 M
Debt 2019 4 165 M
Yield 2019 3,83%
P/E ratio 2019 9,84x
P/E ratio 2020 9,05x
EV / Sales2019 0,96x
EV / Sales2020 0,92x
Capitalization 18 702 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 116,40  €
Last Close Price 104,35  €
Spread / Highest target 29,4%
Spread / Average Target 11,6%
Spread / Lowest Target -23,5%
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
Sector and Competitors
1st jan.Capitalization (M$)
MICHELIN20.36%20 711
BRIDGESTONE CORP4.42%28 642
NOKIAN RENKAAT OYJ-1.12%4 186
YOKOHAMA RUBBER CO LTD10.79%3 275
GOODYEAR TIRE & RUBBER COMPANY (THE)-31.16%3 255
SUMITOMO RUBBER INDUSTRIES LTD3.01%3 166