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Operating
Highlights
October 22, 2014
THIRD-QUARTER
P1_STRATEGY
PARTNERSHIPS
INVESTMENTS
2014
P2_PRODUCTS
INNOVATIONS
SERVICES
P6_RACING
Partnerships
Braskem joins Amyris and Michelin to Accelerate the
Industrialization and Commercialization of Renewable
Isoprene
(September9,2014)–Emeryville,CA,SãoPaulo,
BrazilandClermont-Ferrand,France.
AmyrisandMichelinhaveannouncedthat
Braskemisjoiningtheirpartnershiplaunchedin
2011todevelopandcommercializerenewable
isoprene,sourcedfromvarioustypesofbiomass
asanadditionalsustainablepathwaytoproduce
isoprene.Thiswillprovideanadditionalsustainable
sourcingchannelforpoly-isoprene,ahighperformance,environmentallyresponsiblematerial
usedintheproductionofpremiumtires.
Underthetermsoftheagreement,Braskem,
MichelinandAmyriswillworktogethertodevelop
atechnologytoutilizeplantsugars,suchas
thosefoundinBraziliansugarcaneorcellulosic
feedstocks,toproducerenewableisoprene.
AddingtheexpertiseofBraskem,thelargest
petrochemicalcompanyintheAmericasand
globalleaderintheproductionofbiopolymers,
AmyrisandMichelinwillacceleratethe
industrializationofrenewableisoprene.
36 industrial plants
Braskem operates in Brazil, the United
States and in Germany
To find out more: www.michelin.com
20141022_FM_EN
Michelin Completes the
Acquisition of Sascar
The Group has completed the acquisition of all outstanding shares of the
Brazilian company
(September 1st, 2014) — Sascar is Brazil’s
leading fleet management and freight
security company, with 870 employees,
and generated revenues of BRL 280 million
(around EUR 91 million) in 2013.
The acquisition of this company, whose
business model has proven its worth in Brazil
(33,000 fleets managed, 190,000 trucks),
will enable Michelin to expand its offering
in the fleet management business and to
speed the growth of its truck tire business
in Brazil, while providing Sascar access to
major customers in South America through
Michelin’s distribution network.
The transaction has been approved by the
Brazilian competition authority (CADE) and all
other closing procedures have been finalized
on August 29, 2014.
Summary Terms of Transaction
The enterprise value, which stands at
BRL 1,600 million (around EUR 520 million),
includes the purchase price of
BRL 1,353 million (around EUR 440 million)
and BRL 247 million (around EUR 80 million)
in debt.
The transaction was closed as an all-cash
offer to acquire all of the outstanding common
shares of Sascar Participações S.A. and its
affiliated companies.
To offer everyone "A better way forward"
© Michelin / Sascar
© Michelin
Investments
Products - Innovations - Services
MICHELIN® solutions at the
IAA Trade Show (Hanover – Germany)
MICHELIN® solutions promises customers fuel savings thanks to a comprehensive ecosystem
(September 23 - October 2, 2014) – EFFIFUELTM is a
comprehensive ecosystem that includes sophisticated
telematics, training in eco-driving techniques and the
EFFITIRES™ optimized tire management system to deliver
fuel savings.
In a time of recession, innovation is more important than ever,
and innovation is what EFFIFUEL™ is all about.
It is the only commitment of its kind in the market.
Since it was launched, EFFIFUELTM has delivered fuel
savings of 1.5 liters per 100 kilometers to its trucking company
customers, with the potential for even higher gains.
If the entire European trucking industry were to achieve the
same fuel savings of 1.5 l/100 km over one year, the use of
EFFIFUELTM from MICHELIN®solutions could save more
than three billion liters of fuel, avoid the release of nine million
tonnes of CO2 into the atmosphere and create more than
© Michelin
EFFIFUELTM promises customers their money back if
they are not satisfied.
€3 billion in additional added value for the trucking industry (or
more than €1,300 per truck per year).
For the first time, a subsidiary of a major tiremaker is
moving beyond pure tire sales to address the issue of
fuel savings with a performance promise backed by a
money-back guarantee.
Since the 2008 financial crisis, truckers have been operating
with extremely tight margins, sometimes less than 2%.
Irregular order intake and the lack of any demand visibility are
sources of instability.
At the same time, fuel costs are becoming an increasingly
heavy burden, to the point that in some countries, they are
now a trucking company’s largest expense, ahead of payroll.
1,5 l/100 km
Fuel savings over one year
To find out more: www.michelin.com
Communication
A New Digital Ecosystem
for the MICHELIN Brand
(June 30, 2014) – The new digital ecosystem is designed to improve public awareness
of Michelin’s commitments and achievements in such areas as products and services,
mobility, corporate social responsibility, performance and career possibilities.
BY CREATING A NEW,
MORE CONNECTED,
MORE PARTICIPATIVE,
MORE ENGAGED
COMMUNICATION DYNAMIC,
© Michelin
it will also offer customers, employees, job
applicants, journalists, partners, shareholders,
students and suppliers, opportunities to
experience sustainable mobility and share
their views.
To find out more: www.michelin.com
2
© Michelin
A more prominent digital presence with a new version of the michelin.
com website and MICHELIN brand pages on Facebook, LinkedIn and
YouTube
Dealerships
1000th TYREPLUS
Unit Opens in China
(September 8, 2014) — With only five years' presence in
China, TYREPLUS has opened franchised dealerships in
230 towns and cities in 31 provinces.
EVERY DAY, MORE THAN TEN THOUSAND
VEHICLES ARE SERVICED BY TYREPLUS
DEALERS NATIONWIDE.
The franchised network is also expanding in in Africa,
Eastern Europe, India, Middle East, Taiwan and South
America.
Car Tires
Michelin and Carlsson,
United in Excellence
German car tuner Carlsson will bring advanced MICHELIN tire technology to all of its customers
“The partnership that we’ve just set up with
Carlsson is very important to us, because
working with such prestigious customers,
whether tuners or niche manufacturers, allows
us to reach out to real car enthusiasts and
demonstrate our commitment to the highend market and to driving pleasure.” Lorenzo
Giovanelli, Director of Specialty Products,
MICHELIN Motorsport.
© Michelin
(July 16, 2014) – In selecting three of the
sportiest MICHELIN tires on the market for
its vehicles, Carlsson will be able to move a
step further towards the premium, ultra highperformance segment, enabling its customers
to enjoy the exceptional performance of the
MICHELIN Pilot Sport 3, Pilot Super Sport and
Pilot Sport Cup 2 tires.
Michelin places a great deal of importance on this
type of partnership, and has created a “Specialty
Products” department within the MICHELIN
Motorsports division. Its mission is to manage the
ultra high-performance car tire business, serving
small and large manufacturers on the one hand
and tuners on the other.
“It made perfect sense for Michelin to become
our tire supplier,” said Markus Schuster, CEO
of Carlsson. “We’ve conducted many tests over
the past three years, and MICHELIN tires have
always been the ones to offer the highest, most
consistent level of performance, on both the track
and the open road, in dry as well as wet weather.
The three MICHELIN tires that we’ve selected
are now being used to equip our most powerful
models and are offered to all of our customers,
regardless of the extent to which their car is
tuned.”
MICHELIN
Pilot Sport 3, Pilot Super Sport et
Pilot Sport Cup 2 tires
To find out more: www.michelin.com
Truck Tires
Several sizes* and positions to meet the different needs of every
customer
(October 7, 2014) – Michelin has refreshed its regional product line-up with the
introduction of the MICHELIN X® MULTI™ Z in sizes that are popular in the Asian and
Australian markets. The new range improves retreadability and increases mileage by
nearly 25% compared with the preceding MICHELIN XZE2+ model, while continuing to
deliver superior safety performance.
© Michelin
Note as well that in the ASEAN countries
(Thailand, Malaysia, Indonesia, etc.), the
MICHELIN X® MULTITM 275/70R22.5 family
has been completely renewed on every axle
(front, drive, trailer).
This size meets the highway performance
needs of certain specialty businesses, which
use such vehicles as small trucks, car carriers
and fuel trucks.
By lowering the truck’s center of gravity, it
guarantees a safe ride while maintaining the
tire’s superior mileage and fuel economy
benefits.
Michelin, a better way forward
* sizes: 11R22.5, 12R22.5 and 295/80R22.5
and 305/70R22.5 specifically for Australia
To find out more: www.michelin.com
3
More safety, productivity*
for port equipment operators
Earthmover Tires
© Michelin
MICHELIN X® MULTITM Line
Launched in Asia
The MICHELIN
X-STRADDLE 2 tire
(May 14, 2014) – The MICHELIN X-STRADDLE 2 tire
increases the productivity* of port operations machinery by
more than 30%.
Today, business in ports is constantly growing. 60% of world
trade transits through ports and the total value of goods
shipped in the world’s 17 million containers exceeds
$4.1 trillion a year.
* Compared with the prior-generation MICHELIN
X-STRADDLE
Agricultural Tires
How Can We Best Feed the Planet when the Population
is Rising and Arable Land is Becoming Scarce?
MICHELIN Ultraflex Technologies - 2004-2014: a decade of low-pressure tires improving crop yields, productivity
and soil protection
MICHELIN ULTRAFLEX TECHNOLOGY
PROVIDES A RESPONSE TO
THE DUAL CHALLENGE OF
SUPPORTING DEVELOPMENTS IN
FARM MACHINERY TO ENHANCE
PRODUCTIVITY WHILE ALSO
PRESERVING THE SOIL AND
COVERING EVERY STAGE OF THE
CROP CYCLE.
Capable of operating at low pressure while
supporting greater loads and higher speeds, they
also offer better traction, which in turn improves
productivity in the field.
© Michelin
(September 30, 2014) – At a time when university
researchers are busy evaluating the yield and
productivity gains achieved with farming practices
that are gentle on the soil, Michelin is celebrating
the 10th anniversary of MICHELIN Ultraflex
Technology, a breakthrough innovation allowing
agricultural tires to work at low pressure to improve
soil protection and thereby boost crop yields.
The return on investment with MICHELIN Ultraflex
Technology tires can exceed 24% because crop
yields improve when soil is less compacted.
MICHELIN Ultraflex tires are the key variable in the
following equation:
Lower pressure = reduced compaction =
enhanced soil protection = higher yields =
improved productivity
Up to 4 %
productivity gain
To find out more: www.michelin-agricultural-tyres.co.uk
Two-Wheel Tires
MICHELIN CITY Pro:
Best-in-Category Puncture Resistance
(September 8, 2014) – The MICHELIN City Pro tire is intended for small, under-150cc
motorcycles and big-wheel scooters. Designed for intensive urban use, in the most
demanding conditions, it delivers unparalleled robustness that significantly reduces the
inconvenience caused by punctures, as well as improved safety and longer mileage.
It’s just the right tire for both city streets
and uneven pavements, offering benefits
derived from a careful blend of innovations
and optimizations:
• 20% more puncture resistance compared
with the competition.
• 10% longer mileage compared with the
competition, thanks to its specially designed
rubber compound.
• A new tread pattern that helps to
ensure tighter grip on dry, wet and slippery
pavements.
© MIchelin
In a tangible demonstration of the MICHELIN
Total Performance strategy, the new
MICHELIN City Pro offers a more robust,
safer ride with longer mileage.
To find out more: www.michelin.com
4
© Airbus
Major gains in robustness, safety and longevity compared with the
preceding model and the competition
Aircraft Tires
Michelin, Official
Partner on the A320neo
(September 25, 2014) – The first flight equipped with
MICHELIN® AIR X® radial tires. More fuel efficient (- 15
% of fuel consumption) than the classic version, the A320
Neo, the re-engined version of Airbus’s single aisle A320, is
envisioned to enter into service at the end of 2015.
Michelin will propose, starting in 2016, a radial tire with
NZG technology that will allow for an additional 35% of
landings per tread compared to a standard radial tire.
To watch it live:www.airbus.com/live and
Youtube/Airbus channel: www.youtube.com/airbus
Michelin Travel Partner - MICHELIN Guide
The movie illustrates just how much the over 100-year-old MICHELIN Guide helps uncover and recognize
the talent of chefs who have contributed to French gastronomy and made it so celebrated around the world.
© DreamWorks Pictures
(September 15, 2014) – “We are very honored that a great director like Steven Spielberg has produced a movie about a
young chef who arrives in France and dreams of obtaining a star in the MICHELIN Guide."
Claire Dorland-Clauzel, Michelin Executive Vice President, Communication and Brands
http://restaurant.michelin.fr/magazine/actus/les-recettes-du-bonheur
Racing - Formula E
Financial Agenda
Debuts Round 1
in Beijing
(September 13, 2014) – Audi Sport Abt’s Lucas
Di Grassi made motorsports history by claiming
the inaugural Formula E ePrix in Beijing.
The MICHELIN Pilot Sport EV, which equips
all of the ten teams’ all-electric single-seaters, is
revolutionary in more ways than one.
Michelin Motorsport engineers came up with a
tire whose performance is so versatile that, as
required by the technical rules, it can cover a
complete day’s racing, including free practice,
qualifying runs and the race itself, in all types of
weather conditions.
© Michelin
Michelin is an official partner of the Championship, whose races will run through
next June
The MICHELIN Pilot Sport EV tires, available
in 245/40 R 18 (front) and 305/40 R 18 (rear),
are both taller and narrower, so that they reduce
energy loss and increase vehicle range. A lowprofile tire is subject to less deformation, which
reduces the heat generated and its effect on
energy consumption.
Investor Day
November 10, 2014
(Shenyang, China)
Some 40 million people are believed to have
watched the race worldwide on television with
75,000 attending on site and one billion social
interactions recorded around the race, "the
biggest digital race in the world with real racing."
2014 Annual Results
February 10, 2015
(before market hours)
It was approved by the Fédération Internationale
de l’Automobile (FIA), based on the
recommendations of Michelin Motorsport, whose
engineers and chemists felt that it was already
widely used in production tires. Another example
of technology transfer from track to street.
© MICHELIN 2014 / Jérôme CAMBIER
But the tire’s real genius is its size – 18 inches –
which has never before been fitted on singleseater championship race cars.
Quaterly Financial Information
at March 31, 2015
April 22, 2015
(after market hours)
2015 Annual General Meeting of
Shareholders
May 22, 2015
Racing - 2014 24 Heures Moto
MICHELIN and Team Yamaha France GMT 94 Clinch World Championship Crown
2015 First Half Results
(September22,2014)–Thefinalroundofthe2014FIMEnduranceWorldChampionship(EWC)
runinLeMansmorethanliveduptoitspromise.Thedrama-filledracesawMichelinsecureits15th
motorcycleenduranceracingworldtitlethankstothepolishedperformanceofYamahaRacingGMT
94,whichcameinsecondoveralltoroundoffasuccessfulyearandtakeanewworldcrown.
July 28, 2015
(before market hours)
The final round of the 2014 FIM Endurance World Championship (EWC) run in Le Mans more than lived up to its promise.
Tire Market Data
© Michelin
Generally on line between the 15 and the 20
of the next month
To find out more: www.michelin.com
Michelin Group Operating Highlights - Quaterly Financial information at September 30, 2014
Investor Relations