French tyre manufacturer Michelin on Tuesday said that its first-half revenue declined 2.6%, impacted by unfavourable currency effects and weak markets, while reaffirming its annual outlook.
The company reported revenue of €12.7 billion ($14.4 billion) in the first half of fiscal 2026, which was up 0.5% at constant exchange rates. Revenue benefited from a better product mix and a sales volume growth of 5% in the replacement markets.
Among segments, the company said that the consumer segment generated revenue of €6.93 billion with an operating margin of 12.5%. The transportation segment reported revenue of €2.81 billion and achieved an operating margin of 5.9%. Meanwhile, the specialities segment recorded revenue of €2.22 billion with an operating margin of 14.1%.
Looking ahead, Michelin also reaffirmed its full-year outlook, expecting growth in segment operating income at iso-forex and iso-scope compared with 2025, and more than €1.6 billion in free cash flow before Mergers & Acquisitions.
On the Paris Exchange, Michelin ended Monday's trading at €34.91, up €0.50 or 1.5%.
