05 Financial performance Report of the Managers n As part of the act4nature international initiative, Michelin strengthens its biodiversity commitments for 2030. For example, the Group now aims to use only deforestation-free natural rubber in its products, in accordance with the definitions and standards of the European Union Deforestation Regulation (EUDR), and to reduce pesticide use in rubber farming by 70% on rubber tree farms operated by the Michelin Group and its joint ventures. n Created in 2004 in Bahia, Brazil, the vast, nearly 4,000-hectare Michelin Ecological Reserve (REM) has in just 20 years become one of the best protected, most species-rich ecosystems in the world. Reflecting the Group’s AllSustainable vision, the reserve compellingly demonstrates that rubber tree farming can be made environmentally friendly. Its success has been supported by an extensive research program involving more than 140 projects and 167 scientific publications. n The Science-Based Targets initiative (SBTi) confirms that the Group’s new targets are aligned with a 1.5°C pathway and are consistent with achieving net zero greenhouse gas emissions by 2050. The new targets have strengthened Michelin’s engagement in the fight against global warming. n Michelin is leading the Tyre Digital Product Passport initiative as part of the EU-funded CIRPASS-2 project, in line with the European Ecodesign for Sustainable Products Regulation. Introduced in July 2024, the passport is designed to drive faster deployment of circular economy practices in Europe. Business operations n Michelin is selected as the exclusive supplier to shoe the Ferrari F80. This latest collaboration with the Italian carmaker showcases Michelin’s powerful innovation and unparalleled simulation and modeling expertise. Leveraging its patented state-of-the-art algorithms and unique C3M manufacturing process, the Group developed the outstanding F80 tire in just 15 months. n Michelin, the leading tire manufacturer in the United States, surpasses 100 J.D. Power awards with the 2024 rankings, more than all its competitors combined. The awards, based on responses from more than 31,000 vehicle owners, illustrate the Group’s high standards of quality and safety for its customers. n Exclusive MotoGP™ tire supplier Michelin becomes title sponsor for the French Grand Prix, which will be officially renamed the Michelin® Grand Prix de France in 2024. MotoGP™ events offer opportunities to test advanced technologies in extreme conditions, thereby helping to improve the consumer tire lines. Among these technological advances, Michelin has developed tires for the fully electric MotoE™ bikes, which are made with an average of 50% renewable and recycled materials. n Michelin scores its 33rd win in the Le Mans 24 Hours and its 27th straight victory since 1998. The ideal laboratory for testing technologies under the most extreme conditions, endurance racing has played a major role in establishing Michelin’s reputation and demonstrating its superiority in delivering longlasting performance. In one example, Michelin has enabled Hypercars to cover up to 750 kilometers at an average speed of 240 kph, or the equivalent of two Formula 1 Grand Prix races, all on a single set of tires. n The IAA Transportation Trade Fair in Hanover offers Michelin the opportunity to reaffirm its position as an indispensable partner to the trucking industry, with two innovative new tire lines and a broadened range of connected solutions further demonstrating the benefits of the Group’s All Sustainable vision for its fleet management customers. n Michelin launches the MICHELIN Primacy 5 range and widens its technological lead. The new tire delivers an 18% increase in tread life, while maintaining superior wet grip safety performance, reducing noise and improving fuel efficiency by 5% compared with its predecessor. With a 6% smaller environmental footprint, it is also perfectly aligned with Michelin's all-sustainable strategy. 351 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
RkJQdWJsaXNoZXIy NzMxNTcx