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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Titan International has introduced the Radial Trail A/T, a new all-terrain high-speed trailer (HST) tyre described as the first true product of its kind in the industry. Unlike conventional trailer tyres that are often adapted from older light truck designs, this model has been engineered entirely from the ground up as a dedicated trailer tyre capable of performing reliably across diverse environments. Alongside this launch, Titan has announced a speed-rating upgrade to its established Radial Trail HD tyre.

The new Radial Trail A/T tyre’s field-tested design incorporates an aggressive tread pattern for enhanced traction on gravel, mud, grass and uneven backroads. The tyre also features a centre tread bridge that lowers rolling resistance to support better fuel efficiency and towing stability. Shoulder tread bridges promote even wear and extend the tyre’s lifespan while reducing road noise, and an open shoulder configuration helps dissipate heat and shed debris. Alternating scoops improve control on soft surfaces such as sand and mud, and extended tread elements along with a rim guard offer added protection against scuffs and impacts. The Radial Trail A/T is currently available in size ST235/75R15 LRE, with four additional sizes expected to roll out over the summer.

Now carrying an N speed rating, which allows for operation at speeds up to 87 mph (approximately 140 kmph), the updated Radial Trail HD tyre incorporates heat-resistant engineering to deliver reliable performance under demanding conditions while surpassing Department of Transportation standards. The enhanced Radial Trail HD tyres are available for order immediately.

Both product releases reflect Titan’s continued focus on advancing trailer tyre technology through purpose-built solutions. Whether used for long highway journeys or off-road exploration, these tyres aim to provide drivers with improved traction, durability, and dependability. Together, they represent the company’s broader effort to support trailer owners with greater confidence and peace of mind on the road.

Ryan Fuller, High Speed Trailer Product Manager, Titan Specialty Division, said, “Titan is setting a new standard in high-speed trailer tyre performance. The Radial Trail A/T is the first trailer tyre truly engineered for all-terrain conditions, not adapted from outdated moulds. Combined with the enhancements to the Radial Trail HD, we’re giving our customers unmatched confidence whether they’re hauling down highways or navigating rugged backroads.”

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Continental has once again been recognised as ‘Tire Manufacturer of the Year’ at the latest edition of Tire Technology International Awards for Innovation and Excellence, marking the fifth time it has received this prestigious honour. The independent jury acknowledged the company's groundbreaking tyre technologies, innovative measurement approaches and continuous production process enhancements for establishing new industry standards. Additionally, Continental received the ‘Environmental Achievement of the Year – Manufacturing’ award for its substantial progress in reducing water consumption during tyre production.

During the 3 March ceremony in Hannover, the jury specifically highlighted several key developments from Continental's 2025 initiatives. The company advanced sustainability through the adoption of renewable synthetic rubber components, including pyrolysis oil recovered from end-of-life tyres and recycled cooking oil. A collaborative effort with the Technical University of Braunschweig yielded an innovative method for detecting tyre wear particles using a specialised vacuum system positioned behind drive wheels, equipped with sensitive particle sensors capable of identifying even microscopic airborne debris from various vehicle locations.

The VanContact A/S Eco received special recognition as the first van tyre to achieve the highest ‘A’ rating across all three EU tire label categories – rolling resistance, wet grip and rolling noise. Continental's partnership with the Deutsche Gesellschaft für Internationale Zusammenarbeit promoting responsible natural rubber sourcing in Indonesia also earned jury commendation.

Between 2020 and 2025, Continental successfully reduced water withdrawal per metric tonne of product by over 10 percent across all production facilities, conserving an impressive 197 million litres of water. This achievement resulted from implementing advanced filtration and membrane technologies that enable approximately 90 percent of wastewater to be treated and reused. The company maintains a comprehensive water management approach, systematically refining processes related to heating, cooling and sanitation. External validation of these efforts came through a ‘B’ rating from the independent organisation CDP for Continental's 2025 water management practices.

Edwin Goudswaard, Head of Research and Development at Continental Tires, said, “Tyres are our passion. We are committed to optimising them and making our manufacturing processes even more advanced and resource-efficient. Our greatest strength is our global team, working together closely to develop highly creative and innovative solutions. The jury honoured this very special commitment. And I would like to express my heartfelt thanks to all our colleagues for their remarkable dedication.”

Henning Mühlenstedt, Head of Future Technologies and Sustainable Infrastructure at Continental Tires, said, “Water is a valuable resource. Our continued progress in reducing consumption at our plants demonstrates how effective our approach is.”

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The Tyre Recovery Association has confirmed that its 2026 TRA Briefing Day will take place on 15 September 2026 at the Coombe Abbey Hotel in Coventry. The event, themed Giving REAL Meaning to the Circular Economy, will provide essential insights into the challenges and opportunities currently facing end-of-life tyre recycling both in the UK and globally.

Now an annual fixture, the Briefing Day aims to bring together industry professionals to discuss key developments in the sector. Attendance is free of charge for TRA members, media representatives, industry partners and regulators. For all other participants, a fee of GBP 70 plus VAT will apply, which includes access to a buffet lunch and refreshments throughout the day.

Those interested in attending are encouraged to register in advance by contacting the TRA office via post, telephone, email or through the association’s website. The event promises to deliver valuable updates and analysis for all those involved in the tyre recovery and recycling industry.

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Hankook has confirmed its partnership for the 2026 Convoy Truck Shows, stepping in as an infield partner for the series, which runs in tandem with the British Truck Racing Championships (BTRC). These events offer a distinctive fusion of high-octane track action and the immersive atmosphere of a large-scale truck gathering. This renewed involvement deepens Hankook’s footprint at some of the most eagerly awaited dates on the UK motorsport and haulage calendar.

The season’s schedule commences with Convoy on the Plain on 16–17 May, followed by Convoy Cymru on 20–21 June. The flagship gathering, Convoy in the Park, will round off the summer season on 8–9 August. Attendees can look forward to a full agenda of British truck racing, breathtaking stunt performances, live entertainment and attractions for all ages, alongside a remarkable display of working vehicles, custom rigs and pristine show trucks. Mirroring its sponsorship of the Devon Truck Show, Hankook’s partnership with the Convoy series supports its wider mission to generate substantial donations for local charitable causes and community groups, positioning it as an event with purpose beyond spectacle.

At each of these shows, Hankook will spotlight its cutting-edge range of commercial and consumer tyres. Key exhibits will feature the SmartFlex AH51 for steer axles and the SmartFlex DH51 for drives, both engineered for long-haul and regional use and prized for superior traction and extended durability. Also on show will be the SmartFlex TH31 trailer tyre, the Vantra Transit summer tyre for commercial vans and several models from the Laufenn portfolio, such as the LZ22 all-weather drive tyre, the LF21 all-position tyre and the robust LF95 trailer tyre.

Rounding out the display are the Dynapro HP2 all-season SUV tyre and the iON evo SUV, a cutting-edge summer tyre purpose-built for electric vehicles, underlining Hankook’s forward-looking approach to sustainable mobility. Through its involvement in the Convoy Truck Shows, Hankook reinforces its dedication to the haulage industry by engaging directly with drivers, fleet operators and enthusiasts, showcasing tyre innovations focused on safety, efficiency and peak performance, all while actively contributing to valuable community initiatives.

Event Director Mike Quartley said, "We’re thrilled to have Hankook Tyre UK return as an official sponsor of the Convoy Truck Shows. After the success of last year’s collaboration, continuing the partnership was an easy decision for us. Hankook’s commitment to the industry and to our events adds real value across the board – from contributing to the scale and quality of the events to elevating the atmosphere and experience for our audience. We’re proud to be building on this relationship as the Convoy series continues to grow.”

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