Michelin reported a fall in earnings for 2025 as weaker volumes and a stronger euro offset gains from pricing and product mix, while free cash flow remained robust and debt declined.

Sales fell 4.4 percent to €26 billion in 2025, according to the company’s full-year results. Tyre volumes declined by 4.7 percent, with more than 80 percent of the drop linked to original equipment markets, particularly truck and agricultural tyres in North America.

Segment operating income amounted to €2.9 billion at constant exchange rates, representing 10.9 percent of sales and down 1.5 percentage points year on year . On a reported basis, segment operating income was €2.7 billion, compared with €3.4 billion in 2024. Net income fell 12 percent to €1.7 billion.

Free cash flow before mergers and acquisitions reached €2.1 billion, while net debt declined to €2.3 billion from €3.1 billion, reducing gearing to 13.0 percent.

Florent Menegaux, Managing Chairman, said: “In 2025, several markets where the Group operates were affected by heightened competition, new and very unstable customs tariffs, and an unfavourable regulatory environment, which weighed on our volumes. In this context, our teams responded with exemplary engagement, by closely adjusting the steering of our operations. We also strengthened our financial position, continued to adapt our industrial capacities, and accelerated our product plan. The Group's growth momentum in Polymer Composite Solutions, boosted by our recent acquisitions, confirms our ability to position ourselves in these high value-added activities. We remain committed to continuing to deploy our Michelin in Motion 2030 strategy”.

The automotive and two-wheel division reported sales of €14.3 billion, down 2.5 percent, with an operating margin of 11.7 percent, compared with 13.1 percent in 2024. The share of 18-inch and larger tyres in Michelin-branded passenger car sales rose to 68 percent.

Road transportation sales declined 8.7 percent to €6.0 billion. The operating margin narrowed sharply to 4.7 percent from 9 percent, reflecting a 20 percent contraction in North American original equipment markets, where manufacturers reduced output after stockpiling trucks .

Specialty businesses generated sales of €5.7 billion, down 4.4 percent, with an operating margin of 13.5 percent. Mining and aircraft tyres recorded growth, partly offsetting continued weakness in agricultural and construction original equipment markets.

The group said non-tyre businesses, including Polymer Composite Solutions and Michelin Connected Fleet, made a positive contribution to sales and operating income.

For 2026, Michelin expects tyre markets to remain broadly stable over the year, with a slight contraction in the first half and relative improvement in business-to-business original equipment markets in the second half. The company is targeting growth in segment operating income at constant exchange rates and scope, and more than €1.6bn in free cash flow before mergers and acquisitions.

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Tyres Europe has underscored that tyres qualify as fully recyclable under ISO 22628:2002 and UN Regulation No. 133, describing the established methodology as a robust foundation for assessing tyre recyclability. The organisation recently set out its position on the matter.

The distinction between recyclability and actual recycling rates is central to the group's argument. Recyclability refers to the technical potential of a product and its materials to be recycled, while the real rate hinges on treatment capacity and demand for secondary raw materials. Regulatory frameworks should therefore separate the two concepts clearly and align with an internationally recognised standard.

Tyres consist of rubber compounds, chemical additives and reinforcing textile and steel cords, and at end of life they are separated into rubber, textile and steel fractions, all of which existing mechanical or chemical routes can recycle. Mechanical processing yields rubber granules and powders usable as secondary raw materials across many applications, recovered textiles can be further processed and valorised, and cleaned recovered steel can re-enter metal recycling and steelmaking.

Tyres Europe pledged continued cooperation with policymakers and value-chain partners to strengthen circularity and maximise recovery of valuable tyre materials in Europe, with the full paper available on its website.

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Prinx Chengshan showcased comprehensive tyre solutions for diverse North American driving needs at the 2026 Specialty Equipment Market Association (SEMA) Show in Las Vegas. The company presented products designed to address the continent's varied geography and climate, where drivers seek year-round performance from a single tyre set.

The PRINX HiSEASON 4S HS1 and Fortune CLIMAFLEX 4S FSR402 deliver consistent grip and handling in snow and wet conditions, with low noise and long tread life balancing comfort and cost efficiency. For off-road capability, the PRINX HiCOUNTRY A/T2 and Fortune TORMENTA A/T 2 provide puncture resistance and traction on unpaved roads, resisting cuts from sharp gravel – suited to 4×4 and SUV owners who combine commuting with off-road excursions.

At the show, Prinx Chengshan's sales team engaged in extensive discussions with North American distributors, channel partners and end users about real-world applications of all-season and off-road tyres. The team gathered substantial firsthand market feedback and reached preliminary understandings on future cooperation, laying a foundation for continued North American expansion.

As Chengshan Group marks its factory's 50th anniversary, Prinx Chengshan continues strengthening international brand presence. In 2026, PRINX entered the European commercial vehicle market, partnered with the Garrett Trucksport team at the FIA European Truck Racing Championship and became an official USL partner. The Fortune brand maintains a strong North American presence through USA Pickleball sponsorships. The SEMA appearance highlights product strengths and globalisation progress as the company pursues coordinated development across overseas capacity, distribution, branding, and supply chain.

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TyreSafe, UK’s leading tyre safety charity, has announced Nottinghamshire Police as an official partner, joining the network of police forces committed to promoting safer tyres and safer roads. The collaboration aims to raise awareness of the essential role tyres play in road safety, urging road users to conduct regular checks and address problems promptly. TyreSafe maintains that partnerships between road safety organisations and police forces are a valuable means of building awareness and helping prevent avoidable incidents.

The partnership arrives amid ongoing road safety concerns in Nottingham and the surrounding county. Department for Transport road safety data, published through its STATS19 dataset, recorded 780 personal-injury collisions in Nottingham in 2025, involving 900 casualties. Eight were fatal and 164 resulted in serious injuries, with the total exceeding the 761 recorded in 2024. Although collisions can have many contributing factors, tyre condition remains an essential element of vehicle safety that every driver can help manage.

Tyres represent a vehicle's only point of contact with the road, influencing grip, braking, steering and stability. Incorrect tyre pressures, damaged tyres and insufficient tread can compromise performance, particularly in wet weather and during emergency manoeuvres. Nottinghamshire Police serves a diverse area of around 834 square miles, spanning Nottingham's urban centre, major towns, rural communities and extensive road networks. Home to approximately 1.16 million residents and two major universities, the area saw more than six billion vehicle miles travelled across Nottingham City and Nottinghamshire County combined in 2025.

Through joint efforts, TyreSafe and Nottinghamshire Police aim to reinforce the importance of regular tyre checks as part of a wider commitment to responsible driving and reducing road casualties. The addition of Nottinghamshire Police strengthens this shared commitment, supporting TyreSafe's work with partners across the country to make tyre safety a priority for every road user.

Stuart Lovatt, Chairman, TyreSafe, said, “We’re delighted to welcome Nottinghamshire Police as an official TyreSafe partner. Police forces play a vital role in keeping our roads safe, and their support helps us reach more drivers with a message that can make a real difference. Tyre safety is sometimes overlooked, yet it is fundamental to how a vehicle performs on the road. Drivers may take care to observe speed limits and remain alert to hazards, but they also need to ensure their vehicles are safe and their tyres are in the right condition for the journey. By working with Nottinghamshire Police and our wider network of police partners, we want to make tyre checks a simple, everyday habit. Checking air pressure, condition and tread depth can help drivers identify problems before they become more serious and contribute to safer journeys for everyone.”

Chief Inspector James Walker, Operational Support department at Nottinghamshire Police, said, “Road safety is a shared responsibility, and ensuring vehicles are safe and roadworthy is an important part of protecting everyone who uses our roads. Tyres are the only point of contact between a vehicle and the road, yet their condition and pressure can easily be overlooked. We’re pleased to be partnering with TyreSafe to help raise awareness of the importance of tyre safety and encourage drivers to make regular checks part of their routine. Taking a few moments to check tyre pressure, tread depth and overall condition can help identify potential problems before they put drivers, passengers and other road users at risk. By working together, we can help spread this important message and support safer journeys across Nottinghamshire.”

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Trelleborg Tires unveiled two new agricultural tyre solutions at the ongoing EIMA International 2026 in Bologna, Italy, expanding its premium portfolio with products engineered for demanding field applications. The CR3000 and PneuTrac Aqua were presented during a dedicated conference at Hall 14, Stand B2, combining advanced engineering and application-specific technologies developed over decades of expertise.

The CR3000 addresses the harvesting segment, designed for high-power combines operating in challenging conditions. Its Off-Stubble Technology pairs an optimised structure with a dedicated compound to resist crop residue damage, while an interlug design improves self-cleaning and maintains traction across varying soils. Integrated VF-CFO technology reduces soil compaction and supports higher cyclic loads, together extending tyre life and sustaining productivity when harvest hours are critical.

For centre pivot irrigation systems, the PneuTrac Aqua targets continuous operation in wet fields where traction, stability and uninterrupted performance are essential. The tyre combines an airless PneuTrac carcass, an Omega-shaped sidewall using CupWheel technology by Galileo Wheel Ltd. and a ProgressiveTraction tread design. Its puncture-proof construction eliminates maintenance and replacement, while the wide, uniform footprint minimises soil compaction and supports consistent ground contact in water-saturated soils.

Both solutions reflect Trelleborg's focus on helping agricultural professionals maximise productivity throughout the season. The CR3000 delivers stubble protection, high load capacity and extended tyre life, while the PneuTrac Aqua ensures maintenance-free irrigation performance. Together, the launches reinforce the company's commitment to long-lasting value and high performance in the field.

Luca Sabelli, Global Marketing Director, Trelleborg Tires, said, “Innovation is most valuable when it responds to real agricultural needs. CR3000 and PneuTrac Aqua are developed for two highly specialised applications, bringing together advanced engineering and decades of expertise for unmatched productivity. At EIMA 2026, we are proud to showcase these latest innovations and demonstrate how Trelleborg Tires continues to drive the future of agricultural productivity through premium tyre technology.”

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