![]() The global Original Equipment and Replacement Passenger car and Light truck tire market grew by 1% year-on-year in 2022, but remained 2% down on 2019. ROCE is calculated after tax, using a standard rate of 25%. ġ 20 earnings per share have been restated to reflect the four-for-one stock split on June 16, 2022.Ģ021 as reported: €10.31 2020 as reported: €3.52.Ģ 2022 dividend subject to approval by the Annual Shareholders Meeting on May 12, 2023.Ģ0 dividends per share have been restated to reflect the four-for-one stock split on June 16, 2022.Ģ021 as reported: €4.50 2020 as reported: €2.30.ģ Free cash flow corresponds to net cash from operating activities less net cash used in investing activities, adjusted for net cash flows relating to cash management financial assets and borrowing collaterals.Ĥ Structural free cash flow corresponds to free cash flow before acquisitions, adjusted for the impact of changes in raw material prices on trade payables, trade receivables and inventories.ĥ For the ROCE calculation, amortization of acquired intangible assets and the Group's share of profit/(loss) from equity-accounted companies are added to the segment operating income. ”Ģ023 outlook: based on a soft market demand scenario, Michelin’s objective is to report segment operating income in excess of €3.2 billion at constant exchange rates and free cash flow before acquisitions of more than €1.6 billion. I want to recognize our associates’ engagement which contributes year after year to our Group's successful development. W ith our future in mind, w e maintained all of our industrial and R&D investments. įlorent Menegaux, Managing Chairman, said: “ In a chaotic environment impacted by a combination of systemic crises, Michelin delivered solid results in 2022. A €1.25 per share dividend will be proposed at May 2023 Annual general meeting. Sustainable materials rate in tires reached an average of 30%.CO 2 emissions for scopes 1 & 2 reduced by 17% vs.Strong and rising employee engagement rate of 83%.Overall Group performance improved in line with the “Michelin in Motion 2030” strategic plan objectives set for each of its three People, Profit, Planet pillars: Return on Capital Employed (ROCE) reached 10.8% up 0.5 point s vs. €300m, which will be offset in first-quarter 2023. Q4 penalized by purchasing cuts and stronger December sales for c.One-off impact of inflation on working capital, reducing structural free cash flow by around €500 million.Structural free cash flow 1 of + €378 million: ![]() Reported free cash flow before acquisitions of - €104 million.
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