(Reuters) – French tyre maker Michelin on Tuesday confirmed its full-year outlook despite a “highly uncertain environment” after better than expected quarterly sales.
The group, which makes tyres used in cars, aircraft, bicycles and industrial equipment, reiterated its full-year forecast of segment operating income above 3.2 billion euros($3.4 billion) at constant exchange rates and a structural free cash flow of more than 1.2 billion euros.
First-quarter sales rose 19% to 6.48 billion euros, beating a company-provided analyst consensus of 6.34 billion euros.
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(Reporting by Dagmarah Mackos and Oliver Cherfan; Editing by David Goodman)