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Michelin Expected to Announce Operating Margin of 8.7 per cent

(Clacton, U.K./Tyres & Accessories) Groupe Michelin is expected to record a “stable” operating margin for 2005 when it announces its full-year results on Feb. 14.

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The price rises implemented by the tyre manufacturer have reportedly made it possible to compensate for high raw material prices.  A consensus of the estimates of 15 analysts, suggests that the company will publish a 2005 operating margin of 8.7%, according to Reuters.

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The Reuters consensus estimates sales of 15.35 billion euros and an operational result of 1.35 billion. Last year Michelin published an operating result of 1.299 billion euros on sales of 15.69 billion. Later Groupe Michelin stated that its 2005 operating margin was about 8.7%.

In terms of net income, the range of estimates is quite broad – between 692 million and 1 billion euros, with a median figure of 877 million. Reuters Estimates’ median forecast of 714.5 million euros, is based on a different range – this time 640 million to 889 million euros.

At the end of October, Michelin explained that it would have a reduced operating margin because of the negative development of the replace truck market in Europe. According to Michelin, the market reached its low point in 2005 and is likely to rebound this year.

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