Michelin (XSWX:ML)
CHF 144.15 0 (0%) Market Cap: 21.18 Bil Enterprise Value: 25.86 Bil PE Ratio: 11.94 PB Ratio: 1.26 GF Score: 85/100
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Full Year 2021 Compagnie Generale des Etablissements Michelin SCA Earnings Call Transcript

Feb 14, 2022 / 05:30PM GMT
Release Date Price: CHF36.04
Florent Menegaux;nÃ;rale des Ã;tablissements Michelin SociÃ;tÃ;en commandite par actions;CEO
Compagnie GÃ;Managing General Partner & Managing Chairman

©©©©- -

Good afternoon to everyone. Thank you for joining us, Yves Chapot and myself, for yearly presentation of our 2021 results. To start with, I would like to share with you my pride on behalf of our associates that have delivered in this very challenging environment of 2021, what I would consider as being solid and resilient numbers. Our Michelin Group delivered an operating income of almost EUR 3 billion, EUR 2.97 billion and a margin back in line with 2019 level at 12.5%, knowing that if you take out the exchange rate, that margin has been sharply enhanced -- so in the midst of the persistent health crisis with disrupted supply chains and sharply rising cost, our group continued to focus on protecting its employees and once again demonstrated the strength and the resilience of its business model.

The sales are up 16.3% to almost EUR 24

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