05 Financial performance Report of the Managers 5.1.3 b) Segment operating income Segment information is presented according to the following three operating segments: n Automotive, Two-wheel and related distribution; n Road transportation and related distribution; n Specialty businesses and related distribution. In the following review, 2023 data have been restated to reflect changes in the scope of the reporting segments in 2024. These changes mainly concerned the Two-wheel tire business, which is now consolidated in the Automotive, Two-wheel and related distribution segment, in alignment with the internal reporting process. The Specialty businesses segment includes the Mining, Beyondroad and Aircraft tire activities, as well as the Polymer Composite Solutions business. The Connected 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) 2024 (new scope of reporting) 2023 (new scope of reporting) 2023 (former scope of reporting) 2024/2023 (new scope of reporting) AUTOMOTIVE, TWO-WHEEL AND RELATED DISTRIBUTION Sales 14,667 14,859 14,339 -1.3% Segment operating income 1,917 1,968 1,959 -2.6% Segment operating margin 13.1% 13.2% 13.7% -0.2 pts ROAD TRANSPORTATION AND RELATED DISTRIBUTION Sales 6,599 6,941 6,975 -4.9% Segment operating income 597 474 456 +26.1% Segment operating margin 9.0% 6.8% 6.5% +2.2 pts SPECIALTY BUSINESSES AND RELATED DISTRIBUTION Sales 5,927 6,543 7,029 -9.4% Segment operating income 864 1,130 1,157 -23.5% Segment operating margin 14.6% 17.3% 16.5% -2.7 pts GROUP Sales 27,193 28,343 28,343 -4.1% Segment operating income 3,378 3,572 3,572 -5.4% Segment operating margin 12.4% 12.6% 12.6% -0.2 pts Segment operating margin (in € millions) (1) Segment operating income. Automotive & Two-wheel Road transportation Specialty businesses Group 13.2% 6.8% 17.3% 12.6% 13.1% 9.0% 14.6% 12.4% 2023 2024 3,572 - 51 - 266 123 3,378 Road transportation Automotive & Two-wheel Specialty businesses 2023(1) 2024(1) 333 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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