Michelin Profit, Sales Hurt by Lower Volumes -- Update

Dow Jones

Feb 12

By Nina Kienle

Michelin posted a drop in 2025 profit, as sales were weighed down by lower volumes and a stronger euro.

The French car-parts manufacturer said Wednesday that net profit fell to 1.66 billion euros ($1.97 billion) for the year from 1.89 billion euros the prior year, on sales that fell to 25.99 billion euros from 27.19 billion euros.

The results came in near analysts' forecasts for net profit at 1.61 billion euros and sales at 25.84 billion euros, according to consensus estimates provided by the company.

While sales trends improved in the fourth quarter, full-year tire sales volumes decreased by 4.7%, it said.

Michelin also announced a share buyback program for up to 2.0 billion euros from 2026 to 2028.

The company confirmed its preliminary free cash flow before mergers and acquisitions results of 2.1 billion euros, reflecting disciplined capital expenditure and tight operational management.

"Regardless of unpredictable fluctuations in international trade rules, tire markets are expected to remain stable over 2026," Michelin said. Business-to-business original equipment markets are expected to see relative improvement in the second half of the year, it added.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

February 11, 2026 12:57 ET (17:57 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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