According to French media reports, the French tire maker Michelin (Michelin) local time in the country Group will publish financial data in the first half of 2012, July 27. Although Michelin's original tire sales business in Europe may decline as European car market sales decline, the Group's operating performance in certain regions (eg, North America) continues to grow.
Judging from Michelin's recent sales of tires marketed throughout the country, in the first half of 2012, the Group’s sales of original tires on the market of caravan tires and truck tires in Europe (including Russia and Turkey) decreased by 4%, and spare tire sales decreased. 11%. During this period, Michelin’s sales in the North American original tire market increased by 17%, while sales in the same type of Brazilian market decreased by 7%. In the first half of the year, sales of Michelin heavy-duty tires were similar to those of the original tires. Sales of this type of tires in Europe decreased by 2%, sales in North America increased by 18%, and sales in Brazil decreased by 28%. Currently, the average forecast of Michelin’s turnover in the first half of the year is 10.55 billion euros. The group’s profit is expected to increase by about 20%. In the first half of 2011, Michelin’s turnover was 10.1 billion euros, daily operating profit was 1.15 billion euros, and net profit was 781 million euros.
In addition, on the morning of July 16, 2012, the HSBC Bank of England (HSBC) rated Michelin's stocks as "overweight", and raised the group's stock target price from 62 euros per share to 64 euros per share. The Michelin stock price rose to 5.112 billion euros in half a trading day, an increase of 2.3%.
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