5 _335 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 5 FINANCIAL PERFORMANCE Report of the Managers 5.1.3 b) Segment operating income Segment information is presented according to the following three operating segments: ● automotive and related distribution; ● road transportation and related distribution; ● specialty businesses and related distribution. The Specialty businesses include the Mining, Beyond-road, Two‑wheel and Aircraft tire activities as well as the High-Tech Materials activities. The Services & Solutions businesses are included for the most part in the “Road transportation and related distribution” segment. Operating segment performance is measured primarily on the basis of sales and segment operating income, according to the same measurement principles used in the consolidated income statement. (in € millions) 2023 2022 Second-half 2023 First-half 2023 AUTOMOTIVE AND RELATED DISTRIBUTION Sales 14,339 14,138 7,315 7,024 Segment operating income 1,959 1,711 1,093 866 Segment operating margin 13.7% 12.1% 14.9% 12.3% ROAD TRANSPORTATION AND RELATED DISTRIBUTION Sales 6,975 7,462 3,578 3,397 Segment operating income 456 641 288 168 Segment operating margin 6.5% 8.6% 8.0% 5.0% SPECIALTY BUSINESSES AND RELATED DISTRIBUTION Sales 7,029 6,990 3,371 3,658 Segment operating income 1,157 1,044 487 670 Segment operating margin 16.5% 14.9% 14.5% 18.3% GROUP Sales 28,343 28,590 14,264 14,079 Segment operating income 3,572 3,396 1,868 1,704 Segment operating margin 12.6% 11.9% 13.1% 12.1% Segment operating margin (in € millions) (1) Segment operating income. Automotive Road transportation Specialty businesses Group 12.1% 8.6% 14.9% 11.9% 13.7% 6.5% 16.5% 12.6% 2022 2023 3,396 248 -185 113 3,572 Automotive Road transportation Specialty businesses 2022 (1) 2023 (1)
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