Michelin, the French tire manufacturing company, announced on Monday that its net income for the fiscal year 2023 stands at 1.983 billion euros. This figure shows a slight decrease from the previous year, which was 2.009 billion euros.
The company also reported that its earnings per share fell to 2.77 euros from 2.81 euros recorded in the preceding year.
Despite a reduction in net income and earnings per share, Michelin's segment operating income experienced an increase from 3.396 billion euros to 3.572 billion euros. Consequently, this has raised their operating margin from 11.9% to 12.6% within a year.
With regards to sales, Michelin's total stood at 28.343 billion euros - a slight drop compared to the previous year's sales of 28.590 billion euros.
