2018 Michelin Annual and Sustainable Development Report
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Michelin: Socially Responsible Industrial Restructuring (Research Report)
Michelin: Socially Responsible Industrial Restructuring (Research Report) Professor Sandra J. Sucher and Research Associate Susan J. Winterberg* Introduction This report describes Michelin’s approach to socially responsible industrial restructuring.a The report was designed to serve two purposes—documentation and learning. The report provides documentation of Michelin’s practices in socially responsible industrial restructuring and contains an agreed upon description of Michelin’s planned, integrative, and humanistic approach. The report was also written as an opportunity for learning for Michelin’s leaders. The report traces the evolution in planning and practices that Michelin has used to conduct socially responsible restructuring over time. The resulting picture is both a view from the inside—told in the words and through the actions of Michelin’s managers—and a view from the outside—incorporating the reactions of stakeholders to Michelin’s restructuring approaches in various situations. Hopefully, it helps Michelin’s leaders assess where they have been and where they are headed in their evolving journey in socially responsible industrial restructuring. Michelin: Socially Responsible Industrial Restructuring Company Background Managing People at Michelin Industrial Restructuring at Michelin: Foundations and Evolution 2003–2013: Developing the ‘Ramp Down & Up Model’ of Restructuring 2013–Forward: Developing the New Restructuring Process Preparing the Annual Restructuring Plan Case Studies of Restructuring at Michelin Managing Stakeholders during Ramp Downs: Three Case Studies A Perfect Storm: Closing the Kleber Factory in Toul, France Closing a Truck Tire Factory in Budapest, Hungary Divestiture of a Rubber Plantation in Bahía, Brazil Managing Collaboration During Turnarounds: Two Case Studies Developing the Turnaround Option: Bourges, France A Beta-Test for Empowerment: Transforming the Roanne Factory, France Summary a Reviews Included: C. -
Michelin Guide Release
Prestigious Michelin Guide Spotlights West Hollywood Restaurants A Dozen Eateries are Honored in Michelin’s First California Guide in a Decade WEST HOLLYWOOD, CA (June 12, 2019) – Two very coveted stars now enhance the menu of West Hollywood’s Sushi Ginza Onodera, as the famed Michelin Guide recognizes the restaurant’s “exemplary quality,” “resplendent Japanese elegance” and “delirious array of courses” in its first dedicated California publication in a decade. In addition to Sushi Ginza Onodera, 11 other West Hollywood restaurants are among the 657 spots statewide that received notable recognition in the 2019 Michelin Guide California. Inclusion in the Michelin Guide on any level indicates that a restaurant merits distinction for quality food as determined by the discriminating reviews of its anonymous critics. “One of the highlights of West Hollywood’s unique culture is the abundance of diverse dining experiences available. At every turn, there are restaurants of virtually every kind that showcase the creativity of some of the best chefs in the world,” says Tom Kiely, President and CEO of the West Hollywood Travel and Tourism Board. “We are thrilled that the Michelin Guide has recognized so many of our destination’s fantastic restaurants. It’s a great honor that underscores the incredible culinary landscape here.” Those rounding out this esteemed list include the following eateries, with snippets of “Michelin Guide’s Point of View”: Michelin Bib Gourmand – Designated with the iconic Michelin Man in the guide, these restaurants are acclaimed for their high-quality, simple and approachable style of cooking presented at a great value. It is given to selected eateries at which guests can enjoy two courses and a glass of wine or dessert for $40 or less (excluding tax and tip). -
Yannick Alléno's Pavillon Ledoyen Achieves the Incredible Feat of Having Three Star-Rated Restaurants in the 2020 Michelin Guide for France!
Paris, 27 January 2020 1, 2, 3 … UNPRECEDENTED ! YANNICK ALLÉNO'S PAVILLON LEDOYEN ACHIEVES THE INCREDIBLE FEAT OF HAVING THREE STAR-RATED RESTAURANTS IN THE 2020 MICHELIN GUIDE FOR FRANCE! L'Abysse and Pavyllon - two of Chef Yannick Alléno's restaurants in the Pavillon Ledoyen - received new stars in this year’s MICHELIN Guide for France. Just a few months after opening, Pavyllon now has its first MICHELIN star. The Abysse sushi counter now has two MICHELIN stars, only a year after being awarded its first. And upstairs, Alléno Paris retains its three stars in the MICHELIN guide. Aurélien Rivoire - Pastry Chef of the Pavillon Ledoyen - also received the 2020 MICHELIN Passion Dessert Award. These achievements make the Pavillon Ledoyen the first independent fine dining destination in the world to have three star-rated restaurants in the 2020 MICHELIN Guide. “I’m immensely proud! To receive Michelin stars for all three of my Pavillon Ledoyen restaurants! We can hardly believe it, but it's really happened! It's a real delight to share this honour with my exceptional kitchen and dining room teams, who have together made this a unique and quite extraordinary place! And above all, there’s the delight of passing on our vision, and offering our diners the very best! I think this is a first in the history of the MICHELIN Guide. I can still hardly believe it”, said an emotional Yannick Alléno on hearing the news of this year’s awards. Aurélien Rivoire, astonished after he won the MICHELIN Passion Dessert Prize 2020, declared: ”I am very happy to be one of the winners of the Passion Dessert Prize MICHELIN 2020! It is a real honour and it encourages me to continue to create and share my passion! I thank all my collaborators and Chef Alléno for the trust he has put in me!”. -
FOODPRINT TIMELINE (In English)
FOODPRINT TIMELINE (in English) 1830 – 1840 Invention/historic event 1800-1850 Thanks to numerous developments in the field of infrastructure in the first half of the 19th century, more and more people can be provided with a varied supply of (fresh) foodstuffs. Fresh milk can be quickly carted into the cities, for example. 1830 The Royal Netherlands East Indies Army captures the entire island of Java. The island is now definitely part of the Dutch colonial empire. In part thanks to yields from the colonies (the ‘fruit of the East Indies’), the Netherlands is able to construct a railway network with railway bridges in the home country. 1830 First handwritten recipe of the croquette in the Netherlands. The recipe is currently owned by collector Johannes van Dam. {origineel manuscript plus een 19de eeuws kookboek / dient afgeschermd te zijn van vette vingers} 1830 Flavoured soda water becomes popular in the United States: the birth of the soft drink. 1832 In the early 1830s, the international cholera epidemic reaches the Netherlands. People contract the disease by drinking infected drinking water. A medical publication from this time notes about a certain Jacoba Janssen: ‘Na onmatig gebruik van komkommers en mosselen, zij pijn in het lijf (gevoelt), gepaard met misselijkheid, braking en veelvuldige stoelgang, welke eindelijk zodanig toeneemt, dat er niets anders dan vlokkig water onophoudelijk ontlast wordt.’ (‘After excessive consumption of cucumbers and mussels, she (felt) pain in her torso, accompanied by nausea, vomiting and recurrent bowel movements, which eventually increase to such a frequency, that nothing but flocky water is constantly excreted.’) 1836 The German chemist invents artificial fertiliser. -
PR MICHELIN Guide France 2019 EN
PRESS INFORMATION Boulogne-Billancourt, Monday 21 January The MICHELIN Guide France 2019: The reflection of a gastronomic France at its highest level Michelin is pleased to unveil the selection of the MICHELIN Guide France 2019. Including 632 starred establishments, the 2019 vintage has grown this year with 75 new establishments gaining either one, two or three stars: a record level never seen before. Commenting on the new selection, Gwendal POULLENNEC, International Director of the MICHELIN Guides, said: “This year, more than any other, the MICHELIN Guide France is demonstrating a gastronomic France that excels on all fronts. From remarkable regional dynamism, to showcasing new talented youngsters, and to an unprecedented number of new star-studded restaurants led by women, the 2019 vintage shines brightly in many ways”. Nestled at the foot of the mountains that protect the city of Menton, Mirazur , brilliantly led by the chef Mauro COLAGRECO, gets three stars in the 2019 selection of the MICHELIN Guide. In front of the Mediterranean Sea which unfolds and stretches as far as the eye can see, the chef allows his customers to live a unique and enchanting gastronomic moment. Here, the dishes on offer invariably follow the cycle of the seasons and magnify with delicacy and subtlety the products of the sea and the mountains, as well as the fruit and vegetables cultivated in the kitchen garden of the chef. At Mirazur , the menu is always full of amazing surprises that play with textures and combine bold flavours with simple and colourful presentation. This year Le Clos des Sens also receives the highest distinction of the MICHELIN Guide. -
Paris Food Guide – How to Plan Your Ultimate Foodie Trip to Paris
Paris food guide – How to plan your ultimate foodie trip to Paris untoldmorsels.com/plan-ultimate-foodie-trip-paris May 1, 2018 Headed to Paris and want to know where to eat? Paris is usually on the top of any self-respecting foodie’s must visit destinations. And for good reason. The city of lights is full of the most amazing foodie experiences. We created our guide to where and what to eat in Paris to help you plan your ultimate food adventure. Paris food guide In this article we cover the process of choosing what and where we ate on our last trip to Paris instead of focusing on one-off experiences. The food scene changes quickly in the French capital and there are many comprehensive resources to help you choose where to eat. I’ll outline those at the end of the article but in the mean time here are my tips on how you can plan your ultimate foodie trip with my Paris food guide. The practicalities of your foodie trip to Paris 1/9 The amount of time you have and your budget are going to drive many of your choices of where to eat in Paris. You can pay upwards of €300 per head without wine at some of the top restaurants so make your choices wisely. Pacing yourself is a good idea too. I typically skip a huge hotel breakfast in favour of a pastry or baguette mid morning so I can stuff more in eat a little bit sensibly. From there you can set about constructing an eating itinerary that takes in the best the city of light has to offer. -
Michelin.Com
2014 ANNUAL AND SUSTAINABLE OPEN DEVELOPMENT REPORT MINDED Driving growth in a spirit of openness u Contents OOPEENN MINNDEED 044 Moving forward in a changing world 06 Welcome to a smart world 12 Let’s talk about it: dialogue begins with listening 16 Open innovation: accelerating p The 2014 Registration the creative process Document, including the Annual Financial Report, 20 Interview with Jean-Dominique Senard is available on website www.michelin.com OOUR STRRENNGGTHHS 26 A long-term growth market 28 Unique advantages 29 A global strategy for profi table growth 30 An optimized organization SIX AAMBBITTIOONNS 34 Product performance 442 A responsible manufacturer 488 Financial performance 52 Employee well-being and development 56 Host communities 60 Sustainable mobility COORPPORRATTE GGOVVERRNNAANNCEE ANND RRESSULLTS IIN 2014 68 The Michelin partnership limited by shares 72 Michelin and its shareholders 774 Our contribution 766 Our markets in 2014 78 A global footprint 80 Our businesses 84 Key fi gures 90 Materiality matrix 91 Prizes, awards and distinctions WE SUPPORT THE GLOBAL COMPACT By pledging to support the United Nations Global Compact, Michelin has committed to upholding and applying ten universal principles in the areas of human rights, Advanced level labor, the environment and anti-corruption. Corporate Profi let SINCE 1889, MICHELIN HAS CONSTANTLY INNOVATED TO FACILITATE THE MOBILITY OF PEOPLE AND GOODS. TODAY, IT IS SETTING THE BENCHMARK ACROSS EVERY TIRE AND TRAVEL-RELATED SERVICES MARKET, WHILE LEADING A GLOBAL STRATEGY TO -
2018 Results
2018 RESULTS CONTENTS 1 PRESS RELEASE 3 Market Review 5 2018 Sales and Results 7 Compagnie Générale des Établissements Michelin 9 2018 Non-Financial Ratings 9 2018 Highlights 10 2 SLIDESHOW 13 2018 Annual Results – February 11, 2019 14 2018 SOI: €2,775m, up €304m (11%) at Constant Exchange Rates 18 2019 Guidance: in Line with 2020 Objectives 38 Appendices 44 3 REPORT OF THE MANAGING PARTNERS 72 3.1 Tire Markets 74 3.2 Sales 81 3.3 Consolidated Income Statement Review 85 3.4 Consolidated Balance Sheet Review 93 3.5 Consolidated Cash Flow Statement Review 98 3.6 Return On Capital Employed (ROCE) 101 3.7 Outlook 101 3.8 Share Information 102 3.8 Highlights 104 4 FINANCIAL HIGHLIGHTS 109 4.1 Markets 110 4.2 Sales 112 4.3 Earnings 114 4.4 Reporting Segments 116 4.5 Cost Structure 119 4.6 Cash Flow and Balance Sheet 124 4.7 Consolidated Key Figures and Ratios 128 5 CONSOLIDATED FINANCIAL STATEMENTS 129 5.1 Consolidated Financial Statements at December 31, 2018 130 MICHELIN – RÉSULTATS 2018 1 2 MICHELIN – RÉSULTATS 2018 1 PRESS RELEASE MARKET REVIEW 5 2018 SALES AND RESULTS 7 COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN 9 2018 NON-FINANCIAL RATINGS 9 2018 HIGHLIGHTS 10 MICHELIN – 2018 RESULTS 3 PRESS RELEASE 1 Press release Clermont-Ferrand, February 11, 2019 Financial information for the year ended December 31, 2018 COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN 2018: In a challenging environment, €2,775 million in segment operating income(1), up €304 million or 11% at constant exchange rates. -
2018 Results
2018 RESULTS CONTENTS 1 PRESS RELEASE 3 Market Review 5 2018 Sales and Results 7 Compagnie Générale des Établissements Michelin 9 2018 Non-Financial Ratings 9 2018 Highlights 10 2 SLIDESHOW 13 2018 Annual Results – February 11, 2019 14 2018 SOI: €2,775m, up €304m (11%) at Constant Exchange Rates 18 2019 Guidance: in Line with 2020 Objectives 38 Appendices 44 3 REPORT OF THE MANAGING PARTNERS 72 3.1 Tire Markets 74 3.2 Sales 81 3.3 Consolidated Income Statement Review 85 3.4 Consolidated Balance Sheet Review 93 3.5 Consolidated Cash Flow Statement Review 98 3.6 Return On Capital Employed (ROCE) 101 3.7 Outlook 101 3.8 Share Information 102 3.8 Highlights 104 4 FINANCIAL HIGHLIGHTS 109 4.1 Markets 110 4.2 Sales 112 4.3 Earnings 114 4.4 Reporting Segments 116 4.5 Cost Structure 119 4.6 Cash Flow and Balance Sheet 124 4.7 Consolidated Key Figures and Ratios 128 5 CONSOLIDATED FINANCIAL STATEMENTS 129 5.1 Consolidated Financial Statements at December 31, 2018 130 MICHELIN – RÉSULTATS 2018 1 2 MICHELIN – RÉSULTATS 2018 1 PRESS RELEASE MARKET REVIEW 5 2018 SALES AND RESULTS 7 COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN 9 2018 NON-FINANCIAL RATINGS 9 2018 HIGHLIGHTS 10 MICHELIN – 2018 RESULTS 3 PRESS RELEASE 1 Press release Clermont-Ferrand, February 11, 2019 Financial information for the year ended December 31, 2018 COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN 2018: In a challenging environment, €2,775 million in segment operating income(1), up €304 million or 11% at constant exchange rates. -
2018 FIRST-HALF Financial Report
2018 FIRST-HALF financial report Contents 1 PRESS RELEASE 3 Press release 4 2 SLIDESHOW 11 First-Half 2018 Results 12 3 FIRST-HALF BUSINESS REVIEW 68 3.1 Tire Markets 70 3.2 Net Sales 76 3.3 Consolidated Income Statement Review 80 3.4 Consolidated Balance Sheet Review 87 3.5 Consolidated Cash Flow Statement Review 92 3.6 Outlook For Full-Year 2018 93 3.7 Related Parties 93 3.8 Risk management 93 3.9 Financial Highlights 94 3.10 Share Information 95 3.11 Highlights: First Half 2018 97 4 CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 99 Condensed interim Consolidated Financial Statements for the Six Months Ended June 30, 2018 100 5 STATUTORY AUDITORS’ REVIEW REPORT 123 Statutory Auditors’ Review Report on the 2018 Interim Financial Information 124 6 STATEMENT BY THE PERSON RESPONSIBLE 125 Statement by the Person Responsible for the First Half 2018 Financial Report 126 MICHELIN – FIRST-HALF 2018 FINANCIAL REPORT 1 2 MICHELIN – FIRST-HALF 2018 FINANCIAL REPORT 1 PRESS RELEASE PRESS RELEASE 4 Market Review 5 First-Half 2018 Net Sales and Earnings 7 First-Half 2018 Highlights 8 MICHELIN – FIRST-HALF 2018 FINANCIAL REPORT 3 PRESS RELEASE 1 Press release PRESS RELEASE Clermont-Ferrand, France, July 23, 2018 COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN Financial Information for the Six Months Ended June 30, 2018 €917 million in net income, up 6% €1,327 million in operating income from recurring activities, up €152 million or 11% at constant exchange rates 2018 guidance confirmed Volumes up 2.6% in the second quarter and, as expected, stable over the first half due to unfavorable prior-year comparatives: • Sustained strong growth in the Specialty businesses, led by the buoyant mining, agricultural and construction tire markets; • Accelerating growth in 18” and larger Passenger car tire sales in the second quarter (up 14%); • Passenger car and Truck tire OE sales growth in line with the markets; • Focus on margins in the Passenger car and Truck replacement segments, in a persistently competitive market environment. -
LINE™ ENERGY™ the New 2013 Line of MICHELIN Truck Tires
MICHELIN X® LINE™ ENERGY™ The New 2013 Line of MICHELIN Truck Tires Inspired from the real world… …and demonstrating in real life! Press Kit Media Relations Contact: +33 1 45 66 22 22 Contents Overview The new 2013 line of MICHELIN Truck tires Inspired from the real world… …and demonstrating in real life! The Michelin Technology Center by the numbers The heart of Michelin’s powerful research and development capabilities A closer look at the European transport market News and analyses The new tire for long-haul trucks MICHELIN X ® Line Energy™ The new tire range that really does reduce fuel consumption in long-haul use The right tire for regional use MICHELIN X® MultiWay™ 3D The guarantee of a good trip on every road A closer look at tire regulations Michelin and the European tire labeling program The MICHELIN Truck tire line-up at a glance The new MICHELIN Truck tire lineup Appendices Michelin Group milestones Michelin Group key figures 2 Overview The New 2013 Line of MICHELIN Truck Tires Inspired from the real world… …and demonstrating in real life! In the heart of its Ladoux Technology Center, Michelin is proud to present the new line of MICHELIN X® LINE ENERGY™ tires, whose superior fuel efficiency and other features meet the needs of long- haul trucking companies. The launch of the new range of MICHELIN Truck tires comes at a special time as it coincides with the introduction next November 1 of the new European tire labeling program. A similar sticker system is being introduced for car tires, so that consumers are also informed. -
Michelin, a Better Way Forward Michelin 2015 a Better Way Forward 01
2015 MICHELIN, A BETTER WAY FORWARD MICHELIN 2015 A BETTER WAY FORWARD 01 AN EXTENSIVE BRAND PORTFOLIO FOR ALL MARKET SEGMENTS HIGHLIGHTS OF THE MICHELIN GROUP Michelin offers each customer the right performance at the right price to meet every need with: A WORLD MAJOR A SALES NETWORK a global premium brand: MICHELIN. tire industry player: covering: a primary brand dedicated to sports cars and SUVs: BFGOODRICH. strong regional brands: 13.7 % 170 market share countries UNIROYAL. in North America KLEBER in Europe and WARRIOR in China. Tire Business September 2014. Data 2013 market-leading national brands: KORMORAN, RIKEN, SIAMTYRE, TAURUS, TIGAR... PRODUCTION SITES WITHIN THE MARKETS 13 MICHELIN, 178 million maps 68 17 million tires A KEY MOBILITY ENABLER plants countries and guides 2014 production HIGHLY-QUALIFIED STAFF PASSENGER CAR TRUCK TWO-WHEEL EARTHMOVER & LIGHT TRUCK 112,300 6,000 employees of all backgrounds persons in the global network and cultures. of R&D sites. AGRICULTURAL AIRCRAFT MICHELIN TRAVEL MICHELIN LIFESTYLE PARTNER 02 MICHELIN 2015 A BETTER WAY FORWARD 03 WORLD MARKET BY MANUFACTURER KEY FIGURES In value (US dollars) 14.6% 35% Bridgestone Net sales Michelin In EUR million 13.7% Goodyear Mid-sized tiremakers* Other tiremakers** 21,474 20,247 19,553 * Tiremakers with a 2-6% market share 19, 553 9.4% ** Tiremakers with a less than 2% market share 27.3% 2012 2013 2014 Source : Tire Business, septembre 2014. Ventes 2013. Net income Group share Operating income(1) Cash flow from 2014 net sales 2014 operating income(1) In