{ "schemaVersion": 1, "organisationId": "O-73115ab3f6b94c438986c5dc2af07343", "slug": "michelin", "name": "MICHELIN", "updatedAt": "2026-03-20T06:57:32.590706Z", "sections": [ { "type": "OVERVIEW", "text": "Michelin is a Clermont-Ferrand, France-headquartered mobility and materials company whose historic core is tire manufacturing, while its broader activities span polymer composite materials, connected fleet and mobility services, and travel and lifestyle experiences such as the MICHELIN Guide.[P-8e13fe3966854379be061374aa6fe91e][P-7cf12dbee0dd43c0b89fb01d136fa874][P-3d0b81db455d4e2396dea42576f27f25][P-49512260d2724e0b9fe968fd572fdb2c][P-a8c3f445febc45cea5a10b6d2c1f77af] The group says it is building \"the world's leading manufacturer of life-changing composites and experiences,\" drawing on more than 130 years of engineered-materials expertise, and its corporate purpose is \"to offer everyone a better way forward.\"[P-7eda844a64e04374aaf302623efcd748][P-d54f264ee8a94489b69e79e0a088764a][P-3ae0c27d51684a58bdf667d04a807140]\n\nMichelin’s product base is defined by premium tires for passenger cars, two-wheel vehicles, bicycles, trucks and specialty vehicles, complemented by engineered polymer products such as coated fabrics, films, belts, seals and inflatable structures, as well as data- and AI-based services for professional fleets.[P-7cf12dbee0dd43c0b89fb01d136fa874][P-3396a53a8af04d86a686444645e3010b][P-5cebb675af8049e5aafee3429ecc827d][P-ecd5dffae42c474a85a64d896ea7e690][P-49512260d2724e0b9fe968fd572fdb2c] The company operates with a broad international footprint, reporting a presence in 174 countries; in 2024 it generated about €27.2 billion in sales and reported 129,800 employees worldwide.[P-069722051f5e448a84cf6edbbd7a43e8][P-584a28d630b74b38850884f5e972dd5e]\n[P-8e13fe3966854379be061374aa6fe91e][P-7cf12dbee0dd43c0b89fb01d136fa874][P-3d0b81db455d4e2396dea42576f27f25][P-49512260d2724e0b9fe968fd572fdb2c][P-a8c3f445febc45cea5a10b6d2c1f77af][P-7eda844a64e04374aaf302623efcd748][P-d54f264ee8a94489b69e79e0a088764a][P-3ae0c27d51684a58bdf667d04a807140][P-3396a53a8af04d86a686444645e3010b][P-5cebb675af8049e5aafee3429ecc827d][P-ecd5dffae42c474a85a64d896ea7e690][P-069722051f5e448a84cf6edbbd7a43e8][P-584a28d630b74b38850884f5e972dd5e]", "updatedAt": "2026-03-20T06:57:32.590706Z" }, { "type": "PRODUCTS", "text": "Michelin’s main products are premium tires for cars, two-wheel vehicles, bicycles, trucks and specialty vehicles including mining, agricultural, construction, materials-handling and aircraft applications [P-7cf12dbee0dd43c0b89fb01d136fa874]. The company describes a tire as a mission-critical composite product with more than 200 components assembled through highly engineered processes [P-cf53516c123d4cdeb750994c69c018c6]. Named passenger-car products include MICHELIN e.Primacy, an eco-designed tire for electric, hybrid and low-fuel-consumption vehicles that Michelin says can reduce fuel use by about 0.2 liters per 100 km and CO2 emissions by about 5 g/km, and MICHELIN Pilot Sport EV, which is positioned around low rolling resistance, quieter driving and improved battery range for EVs [https://www.michelin.com.au/auto/advice/choose-tyres/eco-designed-tyre][https://middle-east.michelin.com/en/auto/tyres/michelin-pilot-sport-ev]. Michelin also states that all MICHELIN tires are EV-ready and cites a 26% abrasion advantage versus the average of premium competitors in an ADAC study [P-e05e026900a24ea589bce99fc9cf43d4][P-dfccf29825ca41c58600e3010d9dc14c]. Around 30% of Michelin’s annual sales come from products or services introduced in the last three years [P-828fa9a3e8f340b385bceb159e906238].\n\nMichelin’s service offering around tires includes regrooving and retreading for truck fleets: for a tire with a theoretical 100,000 km life, regrooving can add 25,000 km, retreading can add another 100,000 km while using four times less raw material than a new tire, and a final regrooving can add a further 25,000 km [P-6d95010c4ada4eec89de18e7df1cdf82]. In 2024, Michelin said its worldwide truck tire retreading business reused more than 220,000 tonnes of casings, equal to around 7% of the Group’s total material use for the year [P-aefde10c3f3e4839af407e285185c2a1]. In connected services, Michelin says it has more than one million vehicles under contract through its Connected Solutions activities, which provide data-driven and AI-enabled fleet tools aimed at safety, productivity and CO2 reduction [P-697eca39f3f744bb930699d549ab5bfd]. Its MICHELIN Mobility Intelligence offering draws on mobility data from more than 1.6 billion kilometers traveled each day and uses analytics, machine learning and proprietary algorithms to optimize products and support customer decisions, while MICHELIN QuickScan is marketed as automated tire-wear inspection with millimeter precision [P-52288f8e6c9f406e9892ca759ac484d9][https://mobilityintelligence.michelin.com/en/products/automated-tire-inspection/].\n\nBeyond tires, Michelin develops Polymer Composite Solutions such as coated fabrics, films, conveyors, belts, seals and inflatable structures, as well as engineered polymers including active membranes, biomaterials, non-toxic adhesives and composite reinforcements such as ResiCare and AraNea [P-2566097472264a4187f1f9b50e71b6d4][P-5cebb675af8049e5aafee3429ecc827d]. Examples include the MICHELIN AirProne line of air cushions for patients with acute respiratory distress and the Fenner Eagle XLD O-ring belt, whose greater strength allows conveyors to carry four times the load with less downtime and lower maintenance costs [P-2d6a50f02e6649a1b8880a611a7ce790]. Michelin also says ResiCare’s non-toxic, bio-based resins are used in 80 million MICHELIN tires and are being marketed for manufacturing, transportation, construction, aerospace, defense, electronics and electrics [P-5622eb8811784da5bed2f0a168632917]. In 2024, Michelin reported sales of €14,667 million in automotive, two-wheel and related distribution, €6,599 million in road transportation and related distribution, and €5,927 million in specialty businesses, against total consolidated sales of €27,193 million [P-bbcd87be4f8a48e8add7e9e6f6ee4c4c][P-c55d68ac4a20402982568379f4db7e11][P-f0f3b368446e4491baa1439bd44189b5][P-72448284877d4e379f23864a526d146b].\n[P-7cf12dbee0dd43c0b89fb01d136fa874][P-cf53516c123d4cdeb750994c69c018c6][P-e05e026900a24ea589bce99fc9cf43d4][P-dfccf29825ca41c58600e3010d9dc14c][P-828fa9a3e8f340b385bceb159e906238][P-6d95010c4ada4eec89de18e7df1cdf82][P-aefde10c3f3e4839af407e285185c2a1][P-697eca39f3f744bb930699d549ab5bfd][P-52288f8e6c9f406e9892ca759ac484d9][P-2566097472264a4187f1f9b50e71b6d4][P-5cebb675af8049e5aafee3429ecc827d][P-2d6a50f02e6649a1b8880a611a7ce790][P-5622eb8811784da5bed2f0a168632917][P-bbcd87be4f8a48e8add7e9e6f6ee4c4c][P-c55d68ac4a20402982568379f4db7e11][P-f0f3b368446e4491baa1439bd44189b5][P-72448284877d4e379f23864a526d146b][https://www.michelin.com.au/auto/advice/choose-tyres/eco-designed-tyre][https://middle-east.michelin.com/en/auto/tyres/michelin-pilot-sport-ev][https://mobilityintelligence.michelin.com/en/products/automated-tire-inspection/]", "updatedAt": "2026-03-20T06:57:32.590706Z" }, { "type": "GEOGRAPHY", "text": "Michelin is headquartered in Clermont-Ferrand, France, and describes its commercial organization as being structured around nine regions responsible for managing customer relationships and increasing sales. The group also reports a presence in 174 countries, while its workforce is located in 63 countries.[P-f3fde40b4dbe44b59fc15164b13d1070][P-e25c13cab8d044ae9983e257c089ab28][P-3ec4ed9d39994a8b93b4d531f78e6a18][P-f0413fbd00ee4944b9489bb36db36918]\n\nOn a customer-location basis, Michelin’s 2024 sales were €10,493 million in North America, €9,782 million in Europe, and €6,918 million in Other regions, out of total sales of €27,193 million; this corresponds to roughly 38.6% from North America, 36.0% from Europe, and 25.4% from Other regions.[P-1211d645f2654f98b38da113d473baac][P-0103b32d5bd648d8a442b36ba333aa3c][T-9e6733f50764465bb67bc6061ca94bc5] For this regional reporting, Europe includes Western and Central Europe plus Central Asia, North America includes Mexico, and Other combines Asia, South America, the Middle East, Oceania and Africa.[P-806b40eea0034decb9bc5355fd06df4b]\n\nMichelin’s workforce was concentrated in Europe, with 62,239 employees, followed by the Americas with 36,306 and Africa-Asia-Pacific with 31,287, for a total headcount of 129,832; this implies an approximate regional split of 47.9% Europe, 28.0% Americas, and 24.1% Africa-Asia-Pacific.[P-b778193856104e10bbdf44fb3609ee14]\n[P-f3fde40b4dbe44b59fc15164b13d1070][P-e25c13cab8d044ae9983e257c089ab28][P-3ec4ed9d39994a8b93b4d531f78e6a18][P-f0413fbd00ee4944b9489bb36db36918][P-1211d645f2654f98b38da113d473baac][P-0103b32d5bd648d8a442b36ba333aa3c][T-9e6733f50764465bb67bc6061ca94bc5][P-806b40eea0034decb9bc5355fd06df4b][P-b778193856104e10bbdf44fb3609ee14]", "updatedAt": "2026-03-20T06:57:32.590706Z" }, { "type": "SEGMENTS", "text": "Michelin’s official operating/reporting structure in 2024 is built around three segments: Automotive, Two-wheel and related distribution; Road transportation and related distribution; and Specialty businesses and related distribution.[P-21930af754994cc38007cdd26494c3f7][P-a7514062a8b14b8aacf65ea04045ac30] Automotive, Two-wheel and related distribution is the largest segment; its sales discussion is framed around Original Equipment and Replacement channels, and it generated €14.7 billion of 2024 sales, or about 54% of group sales.[P-bbcd87be4f8a48e8add7e9e6f6ee4c4c][P-6788be71fc2a4b31b616b66604cb7d37][T-804c59cbe57e4b5aae2967004881ffd4] Road transportation and related distribution includes most of Michelin’s Connected Solutions activities, including services and solutions aimed at optimizing fleet use and improving fuel/energy efficiency; it generated €6.6 billion, or about 24% of 2024 sales.[P-dcce8f7436824312a648358c40d366fc][P-6a865138f4994f5088d1e9ded31f0b19][P-c55d68ac4a20402982568379f4db7e11][P-9894709037334b63a1913e39585004d0][T-804c59cbe57e4b5aae2967004881ffd4] Specialty businesses and related distribution includes Mining, Beyond-road and Aircraft tire activities plus Polymer Composite Solutions, and generated €5.9 billion, or about 22% of 2024 sales.[P-dcce8f7436824312a648358c40d366fc][P-0a9d553d5dad40699d5f19a3c018587f][T-804c59cbe57e4b5aae2967004881ffd4]\n\nMichelin’s segment scope changed in 2024, with the Two-wheel tire business moved into Automotive, Two-wheel and related distribution to align external reporting with the Group’s internal organization.[P-a7514062a8b14b8aacf65ea04045ac30] Under the prior 2023 scope, Michelin still reported three operating segments, but Specialty businesses then included Mining, Beyond-road, Two-wheel and Aircraft tire activities as well as Conveyor Belts and High-Tech Materials, while Services & Solutions were reported for the most part in Road transportation and related distribution.[P-88e54e41a34d47eea4102b863e349edd][P-15283482ad274f3485696c7fdeb7e30a] Separately from its financial reporting segments, Michelin also presents a 2024 sales-by-activity view showing replacement auto and 2-wheel tires at 37% of revenue, auto OE tires at 9%, road transportation at 20%, Connected Solutions at 17%, retail and distribution at 12%, and lifestyle/specialty tires at 5%.[P-cd9c0d3012e645b6b3eeeac30860f83a][P-aa2733ea28b14a04b7ba5bcd672d6fb1]\n[P-21930af754994cc38007cdd26494c3f7][P-a7514062a8b14b8aacf65ea04045ac30][P-bbcd87be4f8a48e8add7e9e6f6ee4c4c][P-6788be71fc2a4b31b616b66604cb7d37][T-804c59cbe57e4b5aae2967004881ffd4][P-dcce8f7436824312a648358c40d366fc][P-6a865138f4994f5088d1e9ded31f0b19][P-c55d68ac4a20402982568379f4db7e11][P-9894709037334b63a1913e39585004d0][P-0a9d553d5dad40699d5f19a3c018587f][P-88e54e41a34d47eea4102b863e349edd][P-15283482ad274f3485696c7fdeb7e30a][P-cd9c0d3012e645b6b3eeeac30860f83a][P-aa2733ea28b14a04b7ba5bcd672d6fb1]", "updatedAt": "2026-03-20T06:57:32.590706Z" }, { "type": "HISTORY", "text": "Michelin was founded in Clermont-Ferrand, France, in 1889 by brothers André and Édouard Michelin.[https://guide.michelin.com/us/en/about-us] Early milestones included the development of the first removable bicycle tyre in 1891, which helped establish the company’s reputation for tire innovation.[https://news.michelin.co.uk/articles/the-michelin-story-the-power-to-reinvent-yourself-again-and-again] The Michelin Man, or Bibendum, was introduced in 1898 and became the company’s enduring brand symbol, and in 1900 Michelin launched the first MICHELIN Guide as a free guide for travelers.[https://guide.michelin.com/en/article/features/bibendum-at-120-the-michelin-man-as-you-have-never-seen-him-before][https://guide.michelin.com/en/about-the-michelin-company]\n\nA major technical milestone came in 1946, when Michelin patented the MICHELIN X, presented by the company as the first radial tyre.[https://news.michelin.co.uk/articles/the-triumph-of-the-radial-tyre] Michelin later expanded its international scale through acquisitions, notably its 1989 move to acquire Uniroyal Goodrich, which strengthened its position in the global tire industry and in the U.S. market.[https://news.michelin.co.uk/articles/the-michelin-story-the-power-to-reinvent-yourself-again-and-again] In 2018, Michelin completed the acquisition of Camso, marking another step in the expansion of its specialty businesses.[P-06ec476b72644cb395aff5dcbd5c75c5]\n[P-06ec476b72644cb395aff5dcbd5c75c5][https://guide.michelin.com/us/en/about-us][https://news.michelin.co.uk/articles/the-michelin-story-the-power-to-reinvent-yourself-again-and-again][https://guide.michelin.com/en/article/features/bibendum-at-120-the-michelin-man-as-you-have-never-seen-him-before][https://guide.michelin.com/en/about-the-michelin-company][https://news.michelin.co.uk/articles/the-triumph-of-the-radial-tyre]", "updatedAt": "2026-03-20T06:57:32.590706Z" } ], "sources": [ { "id": "P-8e13fe3966854379be061374aa6fe91e", "href": "https://app.finbar.com/go?id=P-8e13fe3966854379be061374aa6fe91e", "label": "MICHELIN — Full financial report (2024 Y), p461", "documentId": "D-e5a3bab3580049e8ac13c33ca23cc201", "page": 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