01 “For each of the major challenges we are collectively facing, Michelin can deliver innovative responses.” Interview with Managing Chairman Florent Menegaux with Managing Chairman Florent Menegaux Interview How would you describe Michelin’s performance in 2024? Michelin delivered a solid performance in 2024. For that, I would like to thank all our employees, who are more committed than ever, with an 84.7% engagement rate. Each one is playing an active role in the Group’s future, as demonstrated by their steadily increasing take-up of the employee shareholding plans, with 57% of them investing in the latest round. I’m also extremely proud to see that, compared with 2021, we have 17% more managers who started their careers as shopfloor production operators. I think this is a compelling illustration of the tremendous growth opportunities that Michelin offers. Our financial results were robust, in a highly complex, uncertain environment. We created value in every business line, with segment operating income standing at €3.4 billion despite a challenging business environment, particularly in the original equipment segments. We also successfully generated resources to invest in our Group’s future, with free cash flow before M&A increasing to €2.2 billion. The foundations of our performance tomorrow are being laid today. Florent Menegaux Interview with Managing Chairman Florent Menegaux 8 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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