PARIS (dpa-AFX) - French tyre manufacturer Michelin (ML.PA) recently said that its first-half revenue declined 2.6 percent, impacted by unfavourable currency effects and weak Original Equipment markets. The company also reaffirmed its annual outlook.
The company reported revenue of 12.7 billion euros in the first half of fiscal 2026, which was, however, up 0.5 percent at constant exchange rates. Revenue benefited from a better product mix and a sales volume growth of 5 percent in the Replacement markets.
Among segments, the company said that the Consumer segment generated revenue of 6.93 billion euros with an operating margin of 12.5 percent. The Transportation segment reported revenue of 2.81 billion euros and achieved an operating margin of 5.9 percent. Meanwhile, the Specialties segment recorded revenue of 2.22 billion euros with an operating margin of 14.1 percent.
?Looking ahead, Michelin also reaffirmed its full-year outlook, expecting growth in segment operating income at iso-forex and iso-scope compared with 2025, and more than 1.6?billion euros in free cash flow before Mergers & Acquisitions.
On the Paris Exchange, ML.PA ended Monday's trading at 34.91 euros, up 0.50 euros or 1.5 percent.
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