Day: February 12, 2025

  Clermont-Ferrand – February 12, 2025 – 5:45 pm COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN Michelin delivered segment operating income of €3.4 billion in 2024 and generated a free cash flow of €2.2 billion, demonstrating its ability to adapt to uncertain market conditions. Group sales and segment operating income were supported by a powerful improvement in the mix, despite soft tire volumes. Margin at constant exchange rates was maintained at 12.6%.€27.2 billion in sales, with a highly positive 1.9% mix effect reflecting the Group’s value-driven approach. Tire volumes down 5.1% due to the unprecedented simultaneous decline in OE demand across every segment, intensifying competition in mass markets, and one-off headwinds in Specialties. Market positions improved in targeted business segments and geographies, particularly 18-inch...

PRESS RELEASE STRONG 2024 OUTPERFORMANCE WITH POSITIVE OUTLOOK FOR 2025 Paris — February 12, 2025 Total accounting return(1 )at 15% in 20242024 net current cash flow up 5.3% vs. 2023 to €2.60 per share, exceeding the mid-range of the initial guidance by more than 5% EBITDA(2) up 6.9% year-on-year Like-for-like(3) net rental income up 6.3%, outpacing indexation by 350 basis points Increased cash dividend to shareholders of €1.85(4) per share Significant capital appreciation with EPRA NTA up 8.9% over 12 months at €32.8 per share, fueled by a 4.1% like-for-like increase in portfolio valuationKlépierre, the leading shopping malls pure player with exclusive focus on continental Europe, delivered an unrivaled performance in 2024(5):Upward trend in retailer sales, up 4.0%(6) like-for-like in 2024 resulting in a 12.6% occupancy cost ratio,...

 Q4 sales & FY 2024 resultsSales & Ebita margin in line with revised guidance 2024; FCF conversion exceeding objective Positive North America momentum balancing softer environment in Europe Transformation actions gaining momentum throughout 2024 – to be further amplified in 2025→ FY 24 sales at €19,285.1m, up +0.7% on a reported basisSame-day sales down (2.4)% in FY 2024; improving trends quarter after quarterQ4 sales of €4,893.1m, down (0.5)% on a same-day basis (up +1.0% on an actual-day basis) thanks to positive momentum in North America, up +3.6% Continued market share gains boosted by best-in-class services which includes digitalizationActive acquisitions strategy contributing for +2.9% to FY 24 sales growth→ FY 24 current adjusted EBITA margin at 5.9%, demonstrating resilience in a difficult macro environment...

PRESS INFORMATIONHeading: 2024 annual revenues        Nanterre, February 12, 2025 (after trading) 8.6% organic growth in 2024(being audited, in € millions) 2023 2024 Growth of which organicRevenues 741.2 810.4 + 9.3% + 8.6%Achievements Forecasts for the year were exceeded, both in terms of activity and operating profit:revenues totaled €810.4 million, up 9.3% (with 8.1% growth in Q4 );operating profit represented 9.6% of revenues (€77.9 million *).With double-digit growth, the Group’s expansion is driven by digital projects, data, cybersecurity, public clouds, sovereign ans trusted clouds (SecNumCloud). The Group’s net increase in the payroll of 340 by 2024 has been supplemented by greater use of subcontracting. The full final annual results will be published on Wednesday, March 5, 2025 after the stock exchange closes. Outlook As...

DES MOINES, Iowa, Feb. 12, 2025 (GLOBE NEWSWIRE) — Fourth Quarter 2024 HighlightsNet income of $206 million Affordable Housing Program (AHP) assessments of $23 million Voluntary community and housing contributions of $19 million Advances totaled $100.0 billion Mortgage loans held for portfolio, net totaled $11.9 billion Letters of credit totaled $20.1 billion Retained earnings totaled $3.5 billionDividend The Board of Directors approved a fourth quarter 2024 dividend to be paid at an annualized rate of 9.75% on average activity-based stock, an increase of 0.25% from prior quarter, and 6.00% on average membership stock, unchanged from the prior quarter. The Federal Home Loan Bank of Des Moines (the Bank) expects to make dividend payments totaling $138 million on February 19, 2025. Liquidity Mission The Bank provides liquidity...