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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Hankook Tire is preparing to play a central role as the ABB FIA Formula E World Championship travels to Saudi Arabia’s Red Sea coast for the first time for the 2026 E-Prix. Rounds 4 and 5 of Season 12 will take place as a night-time double-header at the Jeddah Corniche Circuit on 13 and 14 February 2026, marking the venue’s debut on the all-electric calendar. The floodlit setting will frame two consecutive evenings of racing, offering a fresh atmosphere and technical challenge for teams and drivers.

The circuit itself has been reworked from its Formula 1 iteration to align with Formula E’s regenerative braking characteristics and energy management requirements. At 3.001 kilometres, the layout intersperses rapid straight sections with heavy braking zones, technical chicanes and tight hairpins where traction and cornering precision are paramount. Night racing adds another variable. Without daytime solar heating, tarmac temperatures evolve steadily through each session, prompting gradual shifts in surface grip that demand adaptability from both drivers and machinery.

Hankook’s iON Race tyre has been developed to function as a consistent, responsive element under these fluctuating conditions. Its construction balances high-load grip with thermal regulation and optimised rolling resistance, a synthesis that directly influences energy conservation and race strategy across the Formula E field. In Jeddah, where high-speed running and repeated braking elevate thermal stress, the tyre’s capacity to maintain a stable operating window while reacting instantly to changing track states becomes a competitive asset from first practice to chequered flag.

Off the circuit, fan engagement initiatives and the return of Formula E EVO Sessions will amplify the event’s atmosphere. Yet it is the on-track contest that defines this early-season moment. With an unfamiliar venue, nocturnal conditions and a layout that rewards both outright speed and intelligent energy deployment, the Jeddah E-Prix presents a significant opening test of the campaign. At the centre of this equation is Hankook’s iON Race, engineered not merely to perform but to enable the delicate interplay between pace, preservation and tactical execution.

Manfred Sandbichler, Senior Director, Hankook Motorsport, said, “The electrifying atmosphere of Jeddah under the lights adds another dimension to this already demanding circuit. With high speeds, repeated braking zones and shifting track conditions across the evening, tyre stability and consistency become decisive factors. The iON Race is designed to give teams a reliable and predictable platform to perform at their best in both qualifying and race situations.”

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Nokian Tyres Plc reported a marked improvement in profitability in 2025, with fourth-quarter operating profit more than doubling, as higher passenger car tyre prices and lower raw material costs offset weak underlying demand.

The Finnish tyre maker said operating profit for October to December rose to €35.1million from €15.4 million a year earlier, while net sales edged up to €416.4 million from €415.0 million. In comparable currencies, sales increased 0.8 percent, driven by North America and the Nordics.

Earnings per share for the quarter rose to €0.12 from €0.04. Cash flow from operating activities increased to €332.0 million from €314.8 million.

For the full year, net sales rose 6.5 per cent to €1,373.6 million, compared with €1,289.8 million in 2024. In comparable currencies, sales increased 7.2 percent, supported by growth across all geographical areas.

Operating profit improved significantly to €35.8 million from €1.8 million in the previous year. Segments operating profit rose 28 per cent to €91.3 million. However, earnings per share remained negative at €-0.11, compared with €-0.17 in 2024.

Cash flow from operating activities nearly doubled to €146.2 million from €77.4 million, reflecting improved working capital management and lower capital expenditure. Capital expenditure fell sharply to €126.9 million from €350.1 million in 2024, when the group was rebuilding production capacity.

Paolo Pompei, who became President and Chief Executive on January 1 2025, said: “2025 was a year of strong improvement for Nokian Tyres despite uncertain operating environment and weak market development. The fourth quarter was our best quarter in three years.”

Pompei said Passenger Car Tyres was “the main driver of the improved results”, while Heavy Tyres was affected by softer markets. He added that the company had accelerated efforts to optimise product mix, improve efficiency and maintain cost discipline.

During the year, the group completed a significant investment phase, including ramping up its new factory in Romania, where it produced one million tyres in 2025. The site is now moving from investment mode towards stabilising manufacturing operations.

Looking ahead, Nokian Tyres said it expects net sales in 2026 to grow compared with 2025 and forecast segments operating profit of 8–10 percent of net sales.

The company said tyre demand in its core markets is expected to remain flat in 2026. It warned that global economic developments and geopolitical, trade and tariff uncertainties could create volatility in the business environment.

Pompei said: “Overall, 2025 marked a turning point for Nokian Tyres, demonstrating our ability to adapt and stay competitive.”

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Bridgestone and Kwik Fit are renewing their presence at The British Motor Show for 2026, stepping in as official sponsors of the Live Arena and Supercar Paddock. Their involvement marks the fifth year these two companies have powered some of the event’s most energetic and crowd-drawing features. Central to the show’s appeal, the Live Arena delivers high-octane displays and gripping stunt performances, while the Supercar Paddock offers rare access to an elite collection of supercars. Together, these zones have become defining elements of the visitor experience, reflecting a shared dedication to excitement, engineering excellence and road safety.

Throughout the 2026 event, attendees can look forward to a packed schedule of arena action and an impressive supercar showcase. Bridgestone and Kwik Fit specialists will be present to engage with the public, offering practical advice on tyre care, vehicle checks and overall driver preparedness. This collaboration underscores a sustained alignment between the brands and the show’s mission to inspire and educate automotive enthusiasts of all generations. Scheduled for 21 to 23 August 2026, the show anticipates a significant turnout, presenting an ideal platform for exhibitors and sponsors to engage with both consumers and the broader motoring sector in a direct and meaningful way.

Drew Chapman, Consumer Sales Director, Bridgestone UK, said, “We’re thrilled to return to the British Motor Show with Kwik Fit for our fifth consecutive year. Spanning three exciting days, the event offers a fantastic day out for families and passionate car fans alike. Performance is at the core of everything we do at Bridgestone, so we’re proud to be at the centre of the action as sponsors of the Bridgestone in partnership with Kwik Fit Live Arena and the Supercar Paddock.”

Andy Lane, Marketing Director, Kwik Fit, said, “We’re proud to be partnering with Bridgestone once again at the British Motor Show. The thrilling stunts and extreme performance in the Live Arena and Supercar Paddock may seem a world away from everyday motoring, but there is a common thread. All drivers need to have confidence in their car – whether up on two wheels in the arena or popping to the shops on the road. This event is the perfect place to connect with motorists of all ages and share how our expertise, combined with the quality and performance of Bridgestone tyres, helps keep the nation’s drivers safe on the road.”

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Rally Sweden, the only event on the FIA World Rally Championship (WRC) calendar contested entirely on snow and ice, returns to the wintry forests surrounding Umeå from 12 to 15 February. As Round 2 of the 2026 season, it marks the first true winter challenge for Hankook Tire, the championship’s exclusive tyre supplier. With approximately 300 kilometres of special stages divided into 18 high-speed tests, crews will push Rally1 cars to nearly 200 kmph and 8,500 rpm, making precision car control, reliable braking and unerring tyre grip the deciding factors in what has been a WRC fixture since 1950.

For this uniquely demanding environment, Hankook equips competitors with the Winter i*Pike SR10W, a competition tyre engineered specifically for frozen surfaces. Its specially developed ice-rally stud pins and asymmetric tread pattern ensure powerful traction, stable cornering grip and consistent braking on both snow-covered and icy roads. Following a strong debut at the 2025 running of Rally Sweden, where drivers and officials commended its performance, the tyre returns with proven credentials and confidence that it will again meet the extreme demands of the frozen north.

The championship narrative intensifies on home ground for Oliver Solberg. The TOYOTA GAZOO Racing driver arrives in Sweden as the early series leader after his historic victory at Rallye Monte-Carlo, where he became the youngest winner of the event in the 21st century. With momentum and national expectations behind him, the young Swede now aims to extend his title challenge on home snow.

Hankook’s involvement in WRC extends beyond tyre supply. Since becoming the exclusive tyre provider for all classes in 2025, the company has continued to reinforce its global motorsport credentials. By channelling technical insights from more than 70 racing series into product development, Hankook systematically transforms real-world performance data into advancements for ultra-high-performance road tyres, strengthening its technology leadership in both competition and commercial spheres.

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