2023 targets achieved, first step succeeded
At its Capital Markets Day (CMD) held in April 2021, the Group had presented its Michelin in Motion strategy with 2030 ambitions and provided financial targets for 2023, adjusted at the March 2023 CMD.
The financial performance of the 2021-2023 period showed a growth, segment operating income and value creation above targets, and Group margin rate maintained despite the dilutive impact of inflation.
Over the period, Michelin made acquisitions worth €1 billion, mainly in the fields of Polymer Composites and Connected solutions. The Group has demonstrated its ability to integrate acquired companies and generate synergies, as well as its capacity to actively manage its portfolio.
The Group reaffirmed its strategy and updated its 2030 ambitions
The Group shared its ambition of growing non-tire activities directionally above 20% of total revenue by 2030, supported by value-accretive M&A. The scope of non-tire activities has been redefined to “businesses other than tire manufacturing”, from “businesses other than tire manufacturing and distribution”.
Michelin’s shareholder return policy was confirmed with a payout ratio target of c.50% of net result.
2024 Investor Calendar
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July 24 : First-half 2024 results
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October 23 : Financial information for the nine months ending September 30, 2024
Supporting documents and webcast will be available on this page.