Michelin delivered segment operating income of €2.9 billion in 2025, at constant exchange rates. The Group generated high free cash flow before M&A of €2.1 billion and strengthened its financial position.

Clermont-Ferrand, February 11, 2026 – 5:45pm COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN Michelin delivered segment operating income of €2.9 billion in 2025, at constant exchange rates.The Group generated high free cash flow before M&A of €2.1 billion and strengthened its financial position. Group sales and segment operating income were weighed down by lower business volumes and the stronger euro, although these effects were partly offset by a better sales mix. Sales totaled €26.0 billion, down 1.4% at ...