EQUIPMENT

MICHELIN Q1 REVENUE GREW BY 9.9%, BOOST BY AUTO MARKET GROWTH

By TNI Network
Date: Apr 21 , 2017

New Delhi: Michelin revenue up by 9.9 percent in the first quarter, boosted by European auto-market growth and a rebound in demand for outsize mining tyres, the company said on Thursday. Revenue rose to 5.57 billion euros ($5.99 billion) from 5.07 billion euros a year earlier, Michelin said in a statement. Sales by volume rose 7.3 percent. The company reiterated its 2017 goals, which include volume growth in line with global markets, an increase in full-year operating income at constant exchange rates and structural free cash flow in excess of 900 million euros. ($1 = 0.9296 euros)

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