Michelin revenues for the first quarter of 2019 amounted to 5.9 billion euros

Michelin revenues for the first quarter of 2019 amounted to 5.9 billion euros

May 7, 2019 0 By autotimesnews

The company is actively developing in all directions and is constantly expanding markets and production. This allows you to increase revenues and profits even in the face of fierce competition and saturation.

Michelin Group officially announced its earnings report for the first quarter of 2019. Sales of the Michelin Group totaled 5.809 billion euros. The report shows outstanding performance even in tough market conditions, and tire sales dropped by only 0.5% from last year.

Despite the decline in world demand, Michelin managed to stabilize sales in the segment of tires for cars and cars. Moreover, sales of cargo rubber showed a good growth in the face of a declining global market. The report showed separately that sales in the specialized rubber segment rose significantly to 1,471 billion euros in the first quarter of 2019, which exceeded last year’s figure by 52.8%.

Michelin Dominic Senar (Sinard), CEO of the Michelin Group, said: “The Michelin Group’s activities are deep in all areas of life. Despite the tough market conditions, we still show outstanding results. The financial results of the first quarter also reflect the outstanding contribution of the company’s expansion. ”

Earlier this year, Michelin Holdings Indonesia, together with Faurecia, opened a new division for the development of automotive hydrogen technologies.