Business description: Michelin (CGDE)

Compagnie Générale des Etablissements Michelin is one of the world leaders in manufacturing and marketing of tires. Net sales break down by activity as follows:

- sale and distribution of tires: mainly replacement tires, long-distance transport tires, specialty tires (for agricultural and civil engineering machinery, aircraft, etc.) and original equipment tires for passenger cars and two-wheels;

- development of connected solutions: offers adapted to the new economic, human and environmental challenges of fleet managers and other public or private mobility players, offers to accompany travel and journeys (Michelin and Robert Parker gastronomic guides, tourist guides and applications such as ViaMichelin);

- development of polymer composite solutions: high-tech solutions in the fields of seals, belts and technical fabrics, developed thanks to Michelin's unique expertise in the physics and chemistry of materials, and aimed at a variety of sectors such as mobility, construction, aeronautics, low-carbon energies and healthcare.

Net sales are distributed geographically as follows: France (9.8%), Europe (27.3%), Mexico and North America (36.7%) and other (26.2%).

Number of employees: 1,17,495

Sales by Activity: Michelin (CGDE)

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

Automotive, Two-wheel and Related Distribution

1.2TCr 1.41TCr 1.43TCr 1.47TCr 1.43TCr

Road Transportion and Related Distribution

623.3Cr 746.2Cr 697.5Cr 659.9Cr 602.3Cr

Specialty Business and Related Distribution

556.4Cr 699Cr 702.9Cr 592.7Cr 566.3Cr

Geographical breakdown of sales: Michelin (CGDE)

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

United States of America

671.12Cr 873.6Cr 887.84Cr 882.7Cr 802Cr

Europe (Excluding France)

694.8Cr 765.6Cr 738.9Cr 721Cr 707.3Cr

Other

639.2Cr 753Cr 735.4Cr 691.8Cr 681.8Cr

France

206.6Cr 248.4Cr 250.2Cr 257.2Cr 255.9Cr

North America (Excl. United States)

167.78Cr 218.4Cr 221.96Cr 166.6Cr 152.3Cr

Executive Committee: Michelin (CGDE)

Manager TitleAgeSince
Chief Executive Officer 63 17/05/2019
Director of Finance/CFO - 01/06/2026
Chief Tech/Sci/R&D Officer - 25/03/2019
Investor Relations Contact - 01/03/2022
Sales & Marketing - 08/09/2025

Composition of the Board of Directors: Michelin (CGDE)

Director TitleAgeSince
Chairman 68 21/05/2021
Director/Board Member 74 17/05/2013
Director/Board Member 66 17/05/2013
Director/Board Member 71 01/10/2015
Director/Board Member 64 22/05/2015
Director/Board Member 63 18/05/2018
Director/Board Member 68 12/11/2020
Director/Board Member 44 14/12/2020
Director/Board Member 51 14/12/2020
Director/Board Member 69 01/06/2020

Shareholders: Michelin (CGDE)

NameStocks%Valuation
Mage Invest SAS
4.41 %
3,03,23,047 4.41 % 1 115 M €
Goldman Sachs Asset Management BV
0.4079 %
28,04,840 0.4079 % 103 M €
Fineco Asset Management DAC
0.2435 %
16,74,364 0.2435 % 62 M €
Aristotle Capital Management LLC
0.2088 %
14,35,385 0.2088 % 53 M €
AXA Investment Managers (Paris) SA
0.2021 %
13,89,479 0.2021 % 51 M €
NameStocks%Valuation
Aristotle Capital Management LLC
0.3144 %
43,24,000 0.3144 % 79 M €
Hantz Financial Services, Inc.
0.008164 %
1,12,272 0.008164 % 2 M €
Albert D. Mason, Inc.
0.003026 %
41,616 0.003026 % 765 110 €
RhumbLine Advisers LP
0.002199 %
30,238 0.002199 % 555 926 €
GAMMA Investing LLC
0.000389 %
5,346 0.000389 % 98 286 €

Holdings: Michelin (CGDE)

NameStocks%Valuation
9,18,00,60,82399.97% 3 649 M $
34,84,80,00010% 24 M $
5,19,7423.07% 5 M $

Company details: Michelin (CGDE)

Compagnie Générale des Établissements Michelin SCA

23, place des Carmes-Déchaux

63000, Clermont-Ferrand

+33 4 73 32 20 00

http://www.michelin.com
address Michelin (CGDE)(ML)

Group companies: Michelin (CGDE)

NameCategory and Sector
Industrial Machinery
Miscellaneous Manufacturing
Industrial Machinery
Department Stores
Chemicals: Specialty

Other Tires & Rubber Products

Change 5-day change 1-year change 3-year change Capi.($)
+1.48%+1.29%-1.22%+17.22% 2.51TCr
+0.17%+0.97%+15.61%+17.33% 2.68TCr
+0.12%-1.01%+99.45%+125.29% 682.03Cr
-1.52%-3.35%-2.42% - 592.41Cr
-0.16%-2.13%+0.49%+22.17% 577.23Cr
-3.74%-4.42%+18.17%+86.11% 509.51Cr
+0.52%-0.52%+21.56%+92.76% 348.71Cr
+2.73%+2.01%+23.54%+56.18% 324.64Cr
+0.20%-3.03%+420.04%+394.52% 298.57Cr
-0.04%+0.27%+76.67%+32.32% 179.18Cr
Average -0.02%-0.32%+67.19%+93.77% 870.19Cr
Weighted average by Cap. +0.28%-0.06%+30.92%+50.06%
Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
31.79EUR
Average target price
33.09EUR
Spread / Average Target
+4.10%

Quarterly revenue - Rate of surprise

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