You had a second question that was — I understand, on the second segment I saw two, is it — was it as a one — was it one on the pricing pressure?
When it comes to the important aspect of net impact of price mix versus raw materials, it is expected to be slightly negative in second-half, and this is due to a series Michelin growth factors. But first a first glance on the Q2 markets. If we move now to Truck tire margin on Slide 13, we saw an improvement despite, of course, currency impact, which has been quite high in this segment as usual, as you know.
And as we said many times, our customers value the Michelin brand and its performance in — with that price positioning in this inch and above segment. Florent Menegaux Yes, good evening. We will have raw material clauses that will bring price decline on our indexed businesses, which means that on our index businesses, we will have a negative price mix versus raw materials.
Michelin is on track to meet its targets: When it comes to the Truck business, expected for us for the market is 0. Jean-Dominique Senard Hopefully, it answers all your three questions. Perhaps the money will flow to acquisitions. Jean-Dominique Senard Thank you very much, and hello, everybody.
So our guidance is totally concert confirmed and we come back on that a bit later. Of course, still growing demand for two-wheel commuting tires and aircraft tires.
You all have in mind that the first quarter was negative. So the second-half will be different in terms of scheme. It may sound strange just — let me just to explain you is due to Michelin growth the fact that, our distribution was stocking tires last year has been destocking them, of course.
You all have in mind the Specialty businesses with the acquisition of Fenner in conveyor belts and also the project acquisition of Camso, which was just disclosed a few weeks ago.
That means clearly that we expect higher volumes growth in the second-half. And particularly, my other question. As you can see, growth is going to accelerate from in Africa and the Middle East.
Clearly, we mentioned that operating income from recurring activities at constant exchange rates will be higher than that of So once again, our raw material clauses are working as we expected them to work.
Just too early to mention figures there, as you obviously imagine. Now perhaps when it comes to the first question, it was a mix impact. Raghav Gupta-Chaudhary Thank you. Kai Mueller Thank you very much for taking my question. And if I may just add that, we are extremely pleased with this deal.
And the other effect is that, we had in the beginning of the year some discussions with certain wholesalers in — which we are a little bit longer to get to the normal, say, trading conditions and that have stability during the quarter two. And what we are interested is basically, the movement made by our peers is just justifying even further why we made the move initially.
We are very pleased with the joint venture. So perhaps, I will start with the last one. Nevertheless, on the — particularly on the second quarter, we have been able to grew faster than the market, particularly in the inch and above segments, both in original equipment and replacement markets.
We held our price firm. OE passenger car and truck tire sales growth were in line with the markets. When you go in more details, volumes up 2. Just wondering what the main contributing factors were for this? External growth in services and technology is also on the program.
Just to say that we continue to push our Michelin long-lasting performance message, which is that Michelin tires are safe with when you save when warm. As you know, there is a quick summary of this company on Slide And this is what guides us to the result for the whole year.
And then the second point just a clarification again. So meaning that most of the — I mean, all of the decrease of the operating margin is linked to currency impacts.
Margins are relatively stable despite periods of economic slowdown, confirming our investment case that Michelin remains a durable cash cow.Michelin confirms its targets of volume growth in line with global market trends, operating income from recurring activities exceeding the figure at constant exchange rates, and structural free cash flow of more than €1, million.
Michelin, the leading tire company, is dedicated to enhancing its clients’ mobility, sustainably; designing and distributing the most suitable tires, services and solutions for its clients’ needs; providing digital services, maps and guides to help enrich trips and travels and make them unique experiences; and developing high-technology materials.
Michelin’s guidance is for sales volume growth in line with that of global tyre markets and an increase in recurring operating profit, combined with structural free cash flow of above For investors seeking safe dividends, Michelin is the best choice in its category with a double-digit compound annual growth rate since the financial crisis.
Throughout this article, you've got. Also, we have enjoyed accelerating growth in the 18 inches plus passenger car in the second quarter, actually up 14% for Michelin.
OE passenger car and truck tire sales growth were in line with. Michelin North America, Inc. Michelin North America operates in the United States, Canada and Mexico with headquarter operations and plants in each country.
This demonstrates Michelin’s long-term strategy of being close to its customers.Download