Michelin: Annual Shareholders Meeting of May 16, 2024
Clermont-Ferrand – May 16, 2025
COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN
Annual Shareholders Meeting of May 16, 2025
The Annual Shareholders Meeting of the Michelin Group was held today in Clermont-Ferrand under the chairmanship of Florent Menegaux, Managing Chairman.
The event was webcast live on the Company's website https://www.michelin.com.
All of the resolutions submitted for shareholder approval were adopted, including, in particular:
the payment of a dividend of €1.38 per share, payable in cash as from May 23, 2025;
the re-election to the Supervisory Board of Wolf-Henning Scheider, who was also re-appointed by the Board to the Audit and Corporate Social Responsibility Committees, of which he was already a member; and
the 2024 compensation packages and 2025 compensation policy for the Managers and members of the Supervisory Board.
At the 2025 Annual Shareholders Meeting, Florent Menegaux spoke of the Company's need for agility in the face of recent crises and the importance of the "Michelin in Motion 2030" strategy for anticipating and absorbing shocks. He highlighted the transformations needed to prepare Michelin for the decades ahead, focusing on employee development, customer experience, innovation, data use, agile operating methods, and protecting the planet.
The innovation power of the Michelin Group was demonstrated in various ways during the meeting. A preview presentation was given on the new MICHELIN CrossClimate 3 and MICHELIN CrossClimate 3 Sport tires, which show how the Group continues to rise to technological challenges. Shareholders were able to learn about the scope of activities of the Manufacture des Talents, a concrete example of the Group's social innovation work. Serving as a major university for over 130,000 students in Clermont-Ferrand, the campus is open to Michelin employees as well as employees from other companies and public organizations. Shareholders then attended a presentation on an airless tire, an innovation-packed solution capable of withstanding extreme conditions and designed to fit out a lunar roving vehicle as part of NASA's ARTEMIS program.
Lastly, Florent Menegaux concluded the Annual Meeting by looking back at the deployment of the "Michelin in Motion 2030" strategy, reviewing the progress made in 2024: « Our "Michelin in Motion 2030" strategy provides us with a clear, relevant roadmap, reducing our dependence on the fluctuations of a single market. In the face of successive crises, from COVID to international instability, we are continuing to develop in the composite solutions sector, offering unique experiences for our customers while also transforming the Group to prepare for the future. The Manufacture des Talents illustrates our ambition to develop employees, and our obsession with customer experience remains central to our value creation strategy. Lastly, Michelin's capacity for innovation continues to be deployed in many areas, with more than 10 new product ranges launched and 245 patents filed last year, demonstrating the commitment of the Group and its teams to offering ever more proactive, innovative solutions ».For more information, you can find vote totals on the resolutions, answers to written questions, and a webcast of the entire Annual Meeting on the corporate website michelin.com.
Investor calendar
May 21, 2025 Ex-dividend date
May 23, 2025 Dividend payment date
July 24, 2025 First-half 2025 results
October 22, 2025 Quarterly information for the nine months ending September 30, 2025
Contacts
Investor Relationsinvestor-relations@michelin.comGuillaume Jullienneguillaume.jullienne@michelin.comFlavien Huetflavien.huet@michelin.comBenjamin Marcusbenjamin.marcus@michelin.com
Media Relations+33 (0) 1 45 66 22 22groupe-michelin.service.de.presse@michelin.comIndividual Shareholders+33 (0) 4 73 32 23 05Muriel Combris-Battutmuriel.floc-hlay@michelin.com Elisabete Antuneselisabete.antunes@michelin.com
DISCLAIMERThis press release is not an offer to purchase or a solicitation to recommend the purchase of Michelin shares. To obtain more detailed information on Michelin, please consult the documents filed in France with the Autorité des Marchés Financiers, which are also available from the www.michelin.com website.This press release may contain a number of forward-looking statements. Although the Company believes that these statements are based on reasonable assumptions as at the time of publishing this document, they are by nature subject to risks and contingencies liable to translate into a difference between actual data and the forecasts made or inferred by these statements
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To participate in or listen to the call, please dial the appropriate number: Toll Free - North America: (+1) 800 717 1738 Conference ID Number: 21262 About Currency Exchange International, Corp. Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, ('CXIFX'), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Group-owned retail branches, agent retail branches, and its e-commerce platform, ('OnlineFX'). Contact Information For further information please contact: Bill MitoulasInvestor Relations(416) 479-9547Email: KEY PERFORMANCE AND NON-GAAP FINANCIAL MEASURES The Group measures and evaluates its performance, as presented in this document, using a number of financial metrics and measures, such as adjusted net income, which do not have standardized meanings under generally accepted accounting principles (GAAP) and may not be comparable to other companies. The Group's management believes that these measures are more reflective of its operating results and provide the readers of this document with a better understanding of management's perspective on the performance. These measures enhance the comparability of our financial performance for the current year with the corresponding period in the prior year. For further information, including a reconciliation, refer to key performance and non-GAAP financial measures in the MD&A. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, demand and market outlook for wholesale and retail foreign currency exchange products and services, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as 'anticipate', 'believe', 'could', 'estimate', 'expect', 'intend', 'may', 'plan', 'predict', 'preliminary', 'project', 'will', 'would', and similar terms and phrases, including references to assumptions. Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Group's actual results, performance, or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry; evolving worldwide geopolitical developments and pandemics including COVID-19 all of which may continue to have a material adverse effect on global economic activity, and may continue to result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets which impact personal and business travel, tourism and factors relevant to the Group's business; global economic deterioration negatively impacting tourism in general; currency exchange risks, the need for the Group to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Group's proprietary rights, the effect of government regulation and compliance on the Group and the industry in which it operates, network security risks, the ability of the Group to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel; volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital as well as the factors identified throughout this press release and in the section entitled 'Risks and Uncertainties' of the Group's Management's Discussion and Analysis for the three and six-month periods ended April 30, 2025 and 2024. Forward-looking information contained in this press release represents management's expectations as of the date hereof (or as of the date such information is otherwise stated to be presented) and is subject to change after such date. The Group disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release. 1 These are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. For further information, refer to the key performance and non-GAAP financial measures section on page 4 of this document. 2 These are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. For further information, refer to the key performance and non-GAAP financial measures section on page 4 of this document.3 These adjusted results are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. For further information, refer to the key performance and non-GAAP financial measures section on page 4 of this in to access your portfolio
