Compagnie Générale des Établissements Michelin Société en commandite par actions (MGDDY) Q4 2025 Earnings Call Transcript

SA Transcripts158.31K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Compagnie Générale des Établissements Michelin Société en commandite par actions (MGDDY) Q4 2025 Earnings Call February 11, 2026 12:30 PM EST Company Participants Florent Menegaux - CEO, Managing General Partner & Managing ChairmanYves Chapot - Managing Partner, GM & CFO Conference Call Participants Akshat Kacker - JPMorgan Chase & Co, Research DivisionHarry Martin - Bernstein Institutional Services LLC, Research DivisionMartino De Ambroggi - Equita SIM S.p.A., Research DivisionThomas Besson - Kepler Cheuvreux, Research DivisionMonica Bosio - Intesa Sanpaolo Equity ResearchStephen Benhamou - BofA Securities, Research DivisionChristoph Laskawi - Deutsche Bank AG, Research Division Presentation Operator Ladies and gentlemen, welcome to the Michelin conference call. I now hand over to Mr. Florent Menegaux, Chief Executive Officer; and Mr. Yves Chapot, General Manager and Group CFO. Gentlemen, please go ahead. Florent MenegauxCEO, Managing General Partner & Managing Chairman Good evening, good afternoon and good morning to all of you. Thank you for joining us, Yves Chapot and myself, for 2025 results call. I would like to start by summarizing our 2030 Michelin in Motion strategy. What you see on your screen is The Group relies on 4 strong and clear distinctive assets. Our Michelin's way of managing based on empowerment, autonomy and responsibility. Our company's resilience comes from team cohesion and shared values. Number two, we have a strong and well-recognized brand. Our MICHELIN brand is now worth more than $10 billion, and it is the ninth strongest brand in the world across all categories, not only in tires. We capitalize on a powerful innovation with deep expertise in complex materials assembly. And finally, we sell best-in-class products and services with long-term value delivered to our customers. Our group operates, and that's in the middle of your screen in 2 complementary fields: Tires and Mobility on historic Core business and Polymer