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Sustainability Channel is the communication channel towards our stakeholders interested in Sustainable approach to the business.

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The first quarter of 2013

The Board of Directors today approved intermediate results for the three months ended 31 March 2013


PIRELLI & C. SPA BOARD APPROVES RESULTS FOR 3 MONTHS ENDED 31 MARCH 2013

PIRELLI & C. SPA

• REVENUES: 1,536.3 MILLION EURO (-1.3% COMPARED WITH 1,556.5 MILLION EURO ON 31

MARCH 2012) – REVENUES GREW 3.6% NET OF EXCHANGE RATE EFFECT

• TOTAL VOLUMES +3.9%, WITH PREMIUM +4% AND INDUSTRIAL BUSINESS +11.7%

• EBIT 179.8 MILLION EURO (-15.5% COMPARED WITH 212.7 MILLION EURO ON 31 MARCH

2012), WITH AN EBIT MARGIN OF 11.7% (13.7% ON 31 MARCH 2012)

• NET PROFIT 72.1 MILLION EURO (-41.7% COMPARED WITH 123.6 MILLION ON 31 MARCH

2012)

• NET FINANCIAL POSITION NEGATIVE 1,680.2 MILLION EURO

(1,205.2 MILLION EURO ON 31 DECEMBER 2012)

TYRE ACTIVITIES

• REVENUES 1,526.7 MILLION EURO (-1% COMPARED WITH 1,542.6 ON 31 MARCH 2012) -

UP 3.9% NET OF EXCHANGE RATE EFFECT

• EBIT 185.6 MILLION EURO (-15.1% COMPARED WITH 218.5 MILLION EURO ON 31 MARCH

2012) WITH AN EBIT MARGIN OF 12.2% (14.2% ON 31 MARCH 2012)

• CONSUMER BUSINESS EBIT MARGIN 12.2% (16.1% ON 31 MARCH 2012)

• INDUSTRIAL BUSINESS EBIT MARGIN 12.1% (8.5% ON 31 MARCH 2012)

2013 TARGETS CONFIRMED

TOTAL EXPECTED REVENUES BETWEEN 6.3 BILLION EURO AND 6.4 BILLION EURO

CONSOLIDATED EBIT BETWEEN 810 MILLION EURO AND 850 MILLION EURO, WITH MARGIN IN LINE

WITH OR SLIGHTLY HIGHER THAN 2012

INVESTMENT APPROXIMATELY 400 MILION EURO

CASH GENERATION BEFORE DIVIDENDS POSITIVE AND ABOVE 200 MILLION EURO, EQUAL TO ABOUT 3% OF SALES

NET FINANCIAL POSITION BELOW 1.2 BILLION EURO BEFORE RECLASSIFICATION
OF PRELIOS CREDIT


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2013 Earth Day: the Pirelli Bolivian stage

Concrete action  to protect our planet. With the contribution of colleagues who use Italian company cars, Pirelli has decided to compensate for their CO2 emissions produced by the mobility of its fleet through carbon credits generated by Project Bolivia. A direct result of the new car policy launched in December 2011, this initiative incentivates the selection of vehicles that have less impact on the environment and supports a project safeguarding the forests and the people who live in the area concerned.

What is Project Bolivia?
From the foot of the Andes Mountains to the banks of the River Amazon, there extends 6,000 hectares of terrain – one hectare is 10,000 square metres – owned by the small farmers involved in an upgrading and reforestation project. In collaboration with LifeGate, Pirelli has contributed to the creation and protection of over 206 hectares, concentrated in the municipal areas of Rurrenbaque in the Beni department in the province of José Ballivián as compensation for the more than 1,400 metric tons of CO2 emitted in 2012 by Italian company cars. Project Bolivia generates carbon credits certified by its Plan Vivo (Live Plan) and is aimed at the supply of environmental services, the production of wood for commercial use, integrated agricultural planning and conservations of the ecosystems and biodiversity, all of it in collaboration with small local owners. In January 2010, it was the one and only foreign reforestation project to receive a ‘Green Status’ from the government of Holland and the Dutch investment bank. To get to know more about Project Bolivia:
http://www.lifegate.it/it/eco/profit/impattozero/forestebolivia/cochabamba

To learn more about Impatto Zero® (Zero Impact):
http://www.lifegate.it/it/eco/profit/impattozero/faq/

http://www.arbolivia.org/index.php?mc=52

How was Earth Day created?
It was in 1962, when United States Senator Gaylord Nelson had the idea to make public opinion and world governments aware of environmental matters. As a result of the collaboration of President John F. Kennedy and a number of conferences in the USA, on 22 April 1970 the first large public event was organised in favour of protecting the Earth. Today, Earth Day involves 175 countries across the world.

How are greenhouse gas emissions neutralised?
With two concrete initiatives: by reducing the emission of greenhouse gases, of which the most common is carbon dioxide (CO2), and compensating for those which are inevitable. Reducing CO2 means improving technological efficiency, adopting a style of life – and driving – that respects the environment, avoiding the useless waste of resources. Emissions that can’t be cut are compensated for by the acquisition of carbon credits generated by activities able to avoid inflicting new CO2 emissions on the atmosphere or absorbing them. In nature, the ability to absorb is a typical property of trees, which are able to retain the CO2 and emit oxygen, as a result of a process of photosynthesis clorophyllous. The Kyoto Protocol recognised their value in reducing emissions and in the climate change battle.

What are carbon credits?
Let’s imagine a ‘stock exchange’ where stockbrokers don’t exchange shares or pieces of paper, but CO2 credits created due to planting trees or introduced to the market by virtuous companies and other organisations able to reduce emissions from the moment they decide to put themselves to the test. For example, by deciding to produce energy from renewable sources, instead of coal fired generating units. The countries and companies that reduce CO2 have a double advantage. The former are economical because they are able to earn from the sale of advance credits; the latter concerns reputations, because they show to the whole system that they are able to respect the rules and hold the environment close to their hearts. The validity of the carbon credits selected by Pirelli is always guaranteed by the local organisations and certified by international standards.


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Pirelli “Green Sourcing” Policy

This is the Pirelli policy that regulates the Group’s purchasing, with a view to creating less impact on the environment

​Here is our commitment by which to further reduce our environmental footprint. It is called our Green Sourcing Policy and it carries the signature of chairman Marco Tronchetti Provera. It is an official document that describes our purchasing policy concerning all the goods and services we acquire: the addressees of this document are not only the company’s buyers, but all of us for use at times when we find ourselves in a position of activating the supply chain for an item or service acquired from outside a company.

We wish to acquire materials, goods and services the environmental footprint of which has less impact than the market average, considering all the phases of the cycle of life, and with particular attention to end-of-life management. For this reason, we are also encouraging our suppliers to integrate our policy into their purchasing model and along their supply chain.

Eleonora Pessina, Pirelli’s sustainability officer, says, “The policy dictates the fundamental principles of green sourcing, for the realisation of which the wording of specific guidelines is explicitly requested. The latter will take advantage of metrics, where possible, through the definition of internationally recognised measurement standards and, where not possible, through the definition of internal indicators. All of this is to monitor the level of effective implementation of the Green Sourcing Policy. In particular, Pirelli is moving towards the individualisation of supply areas for which it is possible to create common environmental requisites. With regard to this project, inter-functional working groups will be created, guided by the acquisition, quality and sustainability departments, with the possibility of direct involvement of eventual suppliers’ reputable representatives”.

Pirelli’s objective is to create its Green Sourcing Policy’s guidelines by the end of 2013.

The policy is available in 22 languages at the following link:

www.pirelli.com/corporate/en/sustainability/sust_develop/policies/green_sourcing/default.html



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