Last €79.62 EUR
Change Today +0.67 / 0.85%
Volume 658.2K
As of 11:37 AM 09/18/14 All times are local (Market data is delayed by at least 15 minutes).

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michelin (cgde) (ML) Details

Compagnie Generale des Etablissements Michelin manufactures, distributes, and sells tires worldwide. It offers tires for cars, vans, trucks, farm machinery, earthmovers, motorcycles, scooters, bicycles, aircraft, subway trains, tramways, mining equipment, and handling equipment. The company provides its products primarily under the MICHELIN, BFGoodrich, KLEBER, UNIROYAL, WARRIOR, Kormoran, RIKEN, TAURUS, and TIGAR brand names. It also operates approximately 3,500 dealership networks and service centers in 29 countries. In addition, the company offers truck driver assistance services; and fleet tire advice, maintenance, and management services, as well as publishes maps and guides to provide mobility assistance services. Further, Compagnie Generale des Etablissements Michelin, through its partnership with licensees, develops car and bike accessories, as well as work, sport and leisure gears, and collectibles. Additionally, it provides engineering services; and operates an online store that provides travel maps and guides, clothes, gifts, car accessories, and others. The company was formerly known as Manufacture de Caoutchouc Michelin and changed its name to Compagnie Generale des Etablissements Michelin in October 1951. Compagnie Generale des Etablissements Michelin was founded in 1863 and is headquartered in Clermont-Ferrand, France.

106,500 Employees
Last Reported Date: 07/28/14
Founded in 1863

michelin (cgde) (ML) Top Compensated Officers

Chief Executive Officer, Managing General Par...
Total Annual Compensation: €2.1M
Compensation as of Fiscal Year 2013.

michelin (cgde) (ML) Key Developments

Braskem Joins Amyris and Michelin to Accelerate the Industrialization and Commercialization of Renewable Isoprene

Amyris, Braskem and Michelin announced that Braskem is joining the ongoing collaboration between Michelin and Amyris. This collaboration was initiated to develop and commercialize renewable isoprene, sourced from various biomass as an additional sustainable pathway to produce isoprene. Under the terms of the agreement, Braskem, Michelin and Amyris will work together to develop a technology to utilize plant sugars, such as those found in Brazilian sugarcane or cellulosic feedstocks, to produce renewable isoprene. Adding the expertise of Braskem, Amyris and Michelin will accelerate the industrialization of renewable isoprene. Amyris will share its rights to commercialize the renewable isoprene technology developed under this collaboration with Braskem. Michelin will maintain certain preferential, but not exclusive, access to the renewable isoprene to be produced by this technology. The companies will not disclose details of the agreement, including the financial contributions of each party. This joint project, with Amyris and Braskem, will give Michelin an additional sustainable sourcing channel for poly-isoprene for the production of quality tires, providing a high-performance, environmentally responsible material.

Compagnie Generale DES Etablissements Michelin SCA Announces Earnings Results for the Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014

Compagnie Generale DES Etablissements Michelin SCA announced earnings results for the six months ended June 30, 2014. For the period, the company reported net sales were EUR 9,673 million compared to EUR 10,159 million for the same period a year ago. Operating income before non-recurring items was EUR 1,159 million compared to EUR 1,153 million for the same period a year ago. Operating income after non-recurring items was EUR 1,072 million compared to EUR 903 million for the same period a year ago. Net income was EUR 624 million compared to EUR 507 million for the same period a year ago. Earning per share was EUR 3.34 compared to EUR 2.76 for the same period a year ago. Capital expenditure was EUR 703 million compared to EUR 762 million for the same period a year ago. Net debt was EUR 892 million compared to EUR 1,114 million for the same period a year ago. Free cash out flow was EUR 243 million compared to free cash flow of EUR 147 million for the same period a year ago. For the full year of 2014, the group aims to improve its gross unit margin, while preserving a positive balance between pricing policy, product mix and raw materials costs. The competitiveness plan is being deployed on schedule. In this environment, Michelin is maintaining its view that volumes will increase by around 3%, in line with projected 2014 market growth. The Group is confirming its objectives of higher operating income before non-recurring items (at constant exchange rates); a more than 11% return on capital employed; and structural free cash flow of more than EUR 500 million along with a capital expenditure program maintained at around EUR 2 billion.

Compagnie Generale DES Etablissements Michelin SCA, Board Meeting, Jul 24, 2014

Compagnie Generale DES Etablissements Michelin SCA, Board Meeting, Jul 24, 2014., at 11:00 Central European Standard Time. Agenda: To consider financial results for the half year ended June 30, 2014.


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