Michelin

Michelin (legally Compagnie Générale des Établissements Michelin) is a French multinational tire manufacturer and one of the largest in the world. It is a public company traded on Euronext Paris (ticker ML) and a component of the CAC 40 index, headquartered in Clermont-Ferrand, France. The business traces its origins to 1832 (as Barbier-Daubrée) and was reincorporated as Michelin on 28 May 1889 by brothers Édouard and André Michelin.

The group operates globally across automotive and adjacent industries, employing roughly 132,000 people (2022 figure). Beyond its flagship Michelin brand, it owns a broad portfolio of tire and service brands including BFGoodrich, Kleber, Uniroyal, Blackcircles, Tigar, Riken, Achilles, Corsa, Euromaster, Taurus, and Kormoran. Leadership includes Florent Menegaux (Managing General Partner and CEO), Michel Rollier (Chairman of the Supervisory Board), and Yves Chapot (General Manager and CFO).

In 2024, Michelin reported sales of €27.2 billion, down 3.1% at constant exchange rates, with an operating margin of 12.6% at constant rates. The group delivered segment operating income of €3.4 billion and generated free cash flow of €2.2 billion, supported by improved product mix despite soft tire volumes. Tire volumes fell 5.1% amid declining original-equipment demand, though positions improved in targeted areas such as 18-inch-and-larger passenger car tires, high-end truck fleets, and mining and aircraft tires.

Michelin is also internationally known for the Michelin Guide and its restaurant 'star' ratings, which originated as a tool to promote motoring and tire demand. Given its scale, global manufacturing footprint, and emphasis on premium product mix, innovations in materials, manufacturing, and mobility services are directly relevant to its business.