Net profit increased by 6% year-on-year. Michelin Group's financial report for the first half of 2018 was stable.

In the first half of 2018, the Michelin Group moved frequently and adjusted its organizational structure to be closer to its customers. Strategic deployment of special tire business, high-tech materials and market access, the implementation of the Group's strategy has a positive impact. The Michelin Group's financial report for the first half of 2018 was solid, with a net profit of 917 million euros, a year-on-year increase of 6%, and a recurring project operating profit of 1.327 billion euros.

At constant exchange rates, it increased by 11% year-on-year, or 152 million euros. For the full year, the Michelin Group confirmed that the sales growth target is in line with global market trends. At constant exchange rates, the operating profit of recurring projects exceeded the same period in 2017. At the same time, the credit rating agency confirmed that after considering the 2018 planned acquisition project, the Michelin Group still maintains a healthy financial position.

Michelin Group's financial statement for the first half of 2018

Michelin work highlights in the first half of 2018

Outlook for the second half of 2018

1. The replacement tire market will keep rising in the harsh winter weather conditions

2. The original tire market has strong demand for construction machinery tire business

3. Passenger car and truck business may be underpowered

4. Sales of mining tires will continue to maintain strong growth

In the second half of 2018, opportunities and challenges will coexist. Michelin will adhere to the pioneering and innovative concept of action and lead the way forward.

Reading volume: Source: Michelin China Author: Zebian

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