Michelin sales: up for 3Q and through 3 quarters
Groupe Michelin posted net sales of 5.4 billion euros for the third quarter of its 2012 fiscal year ended September 30, 2012. That compares to sales of 5.1 billion euros for the same period last year.
(Michelin only reports net income every half. The company recorded net income of 915 million euros on net sales of 10.7 billion euros for its first half ended June 30, 2012. Click here for more information.)
Based on the exchange rate on Sept. 30, 2012, Michelin recorded net sales of $7 billion for 3Q 2012.
Net sales breakdown by segment
Consumer tires: 2.8 billion euros (up 5%).
Truck tires: more than 1.7 billion euros (up 2.7%).
Specialty tires: 864 million euros (up 15.5%).
For the first nine months of the year, Michelin recorded net sales of 16.1 billion euros ($20.7 billion). That compares to 15.2 billion euros for the same period last year.
Outlook for full-year 2012
As a result of its 3Q results, Michelin says it "confirms its guidance for full-year 2012, i.e., a clear increase in operating income before non-recurring items, with a 5% decrease in full-year sales volume, and around a 200-300 million euros favorable impact from raw materials in second half.
"After around 2 billion euros in full-year capital expenditure, but before the impact of the sale of a property complex in Paris, the group aims at a 400 million to 500 million euro free cash flow generation."