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Yahoo
10 minutes ago
- Yahoo
Michelin posts H1 sales in line with market forecasts
By Mathias de Rozario (Reuters) -French tyre maker Michelin reported a 3.4% decline in sales in the first half of the year, in line with market expectations, as a fall in sales volumes was partly offset by higher selling prices. The group confirmed its previous guidance for the full year, in the absence of any further deterioration in the economic environment in the second half of the year. WHY IT'S IMPORTANT Michelin's business continues to be impacted by a slowdown in the automotive market, especially in Europe. The group, which, at the end of last year, employed more than 23,500 people at its production sites across the U.S. and Canada has, since March, been facing tariffs imposed by U.S. President Donald Trump. It is looking at accelerating investments in the United States to counter the impact of tariffs. BY THE NUMBERS Sales fell to 13.03 billion euros ($15.33 billion) in the first half from 13.48 billion euros a year ago. That compared with the forecast 13.08 billion euros in a company-provided consensus. The company recorded a 6.1% drop in volumes, mainly in its original equipment sales. The impact from the U.S. tariffs were around 65 million euros in the first half of the year. They are expected to have an impact of around 200 million euros over the full year. KEY QUOTES "Our results have been severely penalised by the fall in volumes linked to our original equipment activities, whether in the automotive or truck sectors, or in a number of specialities, including heavy goods vehicles, agriculture and infrastructure," , Chief Financial Officer Yves Chapot said on call with journalists. "We have chosen to be as localised as possible, so 70% of what we sell in the United States is made in the United States" he added on the impact of tarrifs. ($1 = 0.8499 euros) Sign in to access your portfolio


Business Wire
11 minutes ago
- Business Wire
Amplitude Surgical – Consolidated annual revenue of €110.8 million, up +5.7% at constant exchange rates
VALENCE, France--(BUSINESS WIRE)--Regulatory News: Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME), the French leader in surgical technologies for lower limb orthopedics, announces its consolidated revenue for the 2024-25 fiscal year. Olivier Jallabert, CEO of Amplitude Surgical, said: "The Group's revenue for the 2024-25 fiscal year shows an increase of +5.7% at constant exchange rates compared to the previous fiscal year. Amplitude Surgical has thus recorded another year of growth, both in France, with a 4.8% increase in revenue, and internationally, with an 8.2% increase in activity at constant exchange rates." Consolidated revenue for the 2024-25 financial year Revenue 2024-25 June 30, 2025 June 30, 2024 Change at current rates Change at constant rates In K€ - IFRS standards Knee and hip activities 110,833 106,019 4.5% 5.7% Total 110,833 106,019 4.5% 5.7% Expand Revenue Q4 2024-25 June 30, 2025 June 30, 2024 Change at current rates Change at constant rates In K€ - IFRS standards Knee and hip activities 27,020 26,406 2.3% 3.8% Total 27,020 26,406 2.3% 3.8% Expand During the 2024-25 financial year, Amplitude Surgical's revenue amounted to €110.8 million, up 4.5% at current exchange rates and 5.7% at constant exchange rates. Revenue for the 2024-25 financial year was therefore slightly below the outlook published in March 2025, with fourth-quarter growth more moderate than the trend observed for the first nine months of the financial year and unfavorable exchange rate effects, particularly in Australia. During the 2024-25 financial year, business in France grew by +4.8%, while international distributors posted growth of +2.9% and the Group's international subsidiaries recorded an increase of +4.1% at current rates and +10.0% at constant rates. Amplitude Surgical's direct business (French market and international subsidiaries), which accounts for nearly 93% of the Group's total sales, grew by 6.0% at constant exchange rates. France accounts for approximately 73% of the Group's business. For international subsidiaries, business grew at constant rates in Belgium, Australia, Brazil, and South Africa, while Switzerland and Germany reported a decline in commercial activity. EBITDA margin 2024-25 In its press release issued on March 26, 2025, the Company updated its outlook and anticipated an EBITDA margin of approximately 26.5% for the fiscal year ending June 30, 2025. Based on unaudited financial statements as of the date of this press release, the Company anticipates an EBITDA margin of approximately 27%. Next press release: 2024-25 annual results: Wednesday, October 22, 2025, after market close. About Amplitude Surgical Founded in 1997 in Valence, Amplitude Surgical is a leading French player in the global market for surgical technologies for lower limb orthopedics. Amplitude Surgical develops and markets high-end products for orthopedic surgery covering the main pathologies affecting the hip and knee. Amplitude Surgical develops, in close collaboration with surgeons, a number of high value-added innovations to best meet the needs of patients, surgeons and healthcare facilities. A leading player in France, Amplitude Surgical is expanding internationally through its subsidiaries and a network of exclusive agents and distributors in more than 30 countries. As of June 30, 2025, Amplitude Surgical employed 429 people and generated revenue of nearly €111 million.


Newsweek
13 minutes ago
- Newsweek
List of Places Where Tesla Faces Legal Action Over Self-Driving Cars
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Tesla, headed by CEO Elon Musk, has come under increasing legal scrutiny worldwide over its self-driving technology, with lawsuits and regulatory actions unfolding in France, Australia, Florida, and California. Many of the cases share a common theme of criticizing Tesla's advertising, with lawyers saying that the company's claims of "autonomous vehicles" fail to live up to reality. Newsweek contacted Tesla for more information on the legal action via email. The Context Tesla's global sales have struggled in 2025, with developing foreign competition further threatening its leading position in key markets, and backlash against CEO Elon Musk's role in President Donald Trump's administration resulting in protests and boycotts of the company's vehicles. The legal challenges across the world mean Tesla has further issues to deal with, despite Musk's departure from the White House. France In France, the government has ordered Tesla to fix a series of violations over deceptive business practices, with the company facing daily fines of $58,000 if it fails to comply. French regulators determined that Tesla's "autonomous driving" features do not meet the standard implied by the company's marketing, and said that the company misled buyers by overstating the power of its autonomous driving technology. A Tesla electric car retail store and company brand logo sign at night, Wuhan, China, May 2nd 2024. A Tesla electric car retail store and company brand logo sign at night, Wuhan, China, May 2nd 2024. Getty Images Australia Thousands of Australian Tesla owners have joined a class action alleging "phantom braking" and misleading claims about the vehicles' capabilities and performance. Plaintiffs describe repeated, sudden, and unexplained braking events while using Tesla's Autopilot system, with some incidents leading to collisions or dangerous situations. "Drivers have reported feeling completely terrified when their vehicles have braked suddenly and it has led in some cases to collisions," said class action lawyer Rebecca Jancauskas in an interview in June. "We've had many reports of people who registered for this class action, telling us that they've been driving with their hands on the vehicle, fully alert, and these issues have occurred nonetheless." Florida In Miami, Florida, a federal jury trial is underway following a fatal 2019 crash involving a Tesla Model S using its Autopilot system. Plaintiffs claim Tesla exaggerated the abilities of its self-driving features, encouraging drivers—like George McGee, who admitted distraction at the wheel—to become over-reliant on the technology. The crash led to the death of Naibel Benavides Leon and severe injury to her companion. George McGee said in court, "I trusted the technology too much," acknowledging he took his attention off the road because of his confidence in the autopilot. The trial, overseen by U.S. District Judge Beth Bloom, is expected to set a precedent for how driver-assistance technologies are marketed and what obligations manufacturers bear. California The California Department of Motor Vehicles has filed a lawsuit seeking to halt Tesla sales and manufacturing in the state for at least 30 days. The Department accuses Tesla of making false and misleading claims about its autopilot and full self-driving capabilities, alleging the features are advertised as being more autonomous than they actually are. Attorney General Rob Bonta said in a statement, "These labels and descriptions represent specifically that respondent [Tesla]'s vehicles will operate as autonomous vehicles, which they could not and cannot do". What Happens Next The outcomes of these legal actions may have wide-reaching implications for Tesla and the broader self-driving automotive sector. In California, the DMV's lawsuit could result in a month-long suspension of Tesla's sales and manufacturing, potentially influencing how all automakers market advanced driver assistance systems.