Refile: BUZZ-Michelin slides as 9-month sales, volumes fall; no Q4 rebound seen

Compagnie Generale des Etablissements Michelin SCA

Yesterday 10:16

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   ** Shares in Michelin MICP.PA fall 6% after the French tyre maker posted lower 9-month revenue and volumes and said it did not expect improvement in Q4
** Nine-month sales were down 0.5% at €19.18 billion ($21,52 billion), tyre volumes dropped 0.8%
** Deutsche Bank says nine-month figures imply that Q3 sales were broadly in line with expectations but also point to a miss on volumes and marginally on price/mix
** CFO Benedicte de Bonnechose said in a post-earnings call she didn't expect a rebound in volume in Q4 anymore 
** Shares are on track for biggest drop in a year
     
($1 = 0.8914 euros)

(Reporting by Mathias de Rozario in Gdansk)
((mathias.derozario@thomsonreuters.com))