Michelin Cie Gen Unsp/Adr (MGDDY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Michelin Conference Call. I now hand over to Mr. Florent Minigou, Chief Executive Officer, and Mr. Yves Chaput, General Manager and Group CFO. Gentlemen, please go ahead. Good evening, good afternoon, and good morning to all of you. Thank you for joining us, Yves Chaput and myself, for our 2025 Results Call. I would like to start by summarizing our 2030 Michelin in Motion strategy. What you see on your screen is our group relies on four strong and clear distinctive assets. Our mission's way of managing based on empowerment, autonomy, and responsibility. Our company's resilience comes from team cohesion and shared values. Number two, we have a strong and well-recognized brand. Our Michelin brand is now worth more than 10 billion dollars and it is the 9th strongest brand in the world across all categories, not only in tyres. We capitalize on a powerful innovation with deep expertise in complex materials assembly. And finally, we sell best-in-class products and services with long-term value delivered to our customers. Our group operates, and that's in the middle of your screen, in two complementary fields, tires and mobility on historic core business and polymer composite solutions in which our group is leveraging its material expertise acquired in tires and where we are accelerating our growth. In 2025, and that's the right of your screen, our group achieved the following performance. An engagement rate at 84.4 high and stable close to our 2030 target of 85%. A segment operating income of 2.9 billion at Isoforex. This is, of course, disappointing performance as we did not reach our initial 2025 guidance. I am sure, however, you have noticed that we have reached the upper part of our revised guidance. It shows that we were able to tu...