Sustainability Channel

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

  • Share to Facebook
  • Share to Twitter

Board of directors meeting: the process of reorganization of Pirelli industrial continues






The Board of Directors of Pirelli & C. S.p.A. met today and was updated on the activities under way with regard to the proposed integration of Pirelli Industrial and Aeolus, acknowledging with favour its progress.

The Board then analyzed the guidelines of the industrial plan for the Industrial segment.

The Board, further, approved the industrial plan 2016-2018, with vision to 2020, for Pirelli Consumer, the sole global player entirely focused on the Consumer business. The strategy calls for:

  1. 1. strengthened leadership in the high profitability Prestige and Premium segments;
  2. 2. a business model always more focused on the end consumer (‘Consumer Centric Approach’)
  3. 3. oversight of new business opportunities offered by new and sustainable mobility (Cyber Tyre and Vélo);
  4. 4. total digitization of industrial, commercial and management processes, more efficient and based on predictive models made possible thanks to the deployment of big data and analytics.

To support this course, the Board adopted an organizational model which calls for:

- the constitution of General Management Pirelli Digital, entrusted to Luigi Staccoli, supervising all activities aimed at the digitization of the company;

- the aggregation of all technical structures (R&D, homologations, technologies, manufacturing, quality, motorsport) and sales to Original Equipment under the responsibility of General Manager Technology, Maurizio Boiocchi;

- the attribution of the management of all commercial structures (marketing, supply chain,  aftermarket sales) and the Business Unit Moto to the Chief Commercial Officer Consumer, Roberto Righi, in support of the ‘Consumer Centric Approach’;

- the General Management Operations will be superseded from January 1, 2017. Gregorio Borgo, who has announced his decision to leave the company to pursue a new important professional path, will remain with the company until December 31, 2016 to support the  Ceo, Marco Tronchetti Provera, with the implementation of the new organizational model;

- the nomination of Paolo Dal Pino, currently Ceo of the Latin America region, as Chief Executive Officer of Pirelli Industrial;

- attribution of responsibility for Human Resources Management given to Gustavo Bracco with the role of Chief Human Resources Officer.

The Company extends to Gregorio Borgo its appreciation for the important contribution made to the growth of Pirelli through his 24 years of service.

On the basis of these assumptions, the Board shared the desire to accelerate the course to the company’s listing, immediately launching all the necessary actions. It is foreseen that the preliminary phases for the preparation of the IPO (Initial Public Offering) can be completed during the first half of 2017, with the objective of proceeding, in accordance with the best opportunities offered by the market, with the launch of the IPO by the first half of 2018 on the Milan stock exchange or, however, on one of the leading stocks exchanges at the international level.

Among the elements underpinning the success of the listing, the Board identified:

- the alignment of governance to international best practice, through a Board of Directors and board committees composed of a suitable number of independent directors;

- a shareholder structure that, although beginning with a concentrated shareholder structure, which emerged during the Public Tender Offer, foresees an evolution which ensures a suitable free-float level and one able to satisfy the expectations of international investors;

- a system of incentives that guarantees the alignment of the interests of management with those of all shareholders.

The Board further took note with favour of the decision of the board of Marco Polo International Italy (‘Marco Polo’), which also met today, to share and approve the course decided by Pirelli and the elements underpinning the success of its listing. The Board of Marco Polo confirmed its desire to accelerate the implementation of the shareholders’ agreements signed on March 22, 2015, which have as their basis the creation of value by Pirelli and its relisting.

PDF Version (122 KB)

  • Share to Facebook
  • Share to Twitter


Global presence, innovation, quality, speed, sustainability and level of service the evaluation criteria

Global presence, innovation, quality, speed, sustainability and level of service. This were the evaluation criteria Pirelli used to select the 9 companies that have received the “Supplier Awards 2016”.

This fifth edition of the “Supplier Awards” took place in Milan, where the CEO and Executive Vice Chairman Marco Tronchetti Provera, along  with the Director of the Milan’ company’s Procurement Department, Pierluigi de Cancellis, presented the awards to nine companies operating in various sectors: from ones that organize events to others supplying strategic IT solutions and from those specialised in logistics to raw-material producers.

The successful suppliers also come from different countries – from India to Germany, China and Italy, in keeping with Pirelli’s renowned international flavour and global competitiveness.

The following companies are the protagonists of the 2016 Pirelli Supplier Awards:
Glanzstoff Sicrem, an Italian manufacturer of textile reinforcement materials; Trinseo, an American group specialised in synthetic rubber; Wuxi Quechen Silicon Chemical, a Chinese supplier of silicon; Birla, an Indian supplier of carbon black; Prashida Aneka Niaga Tbk, an Indonesian supplier of natural rubber; Hewlett Packard Enterprise, a leading US IT company; Alpha Technologies, an American company producing laboratory instruments for R&D; Fandango, an Italian event organizer; and, lastly, DHL Express, a German logistics group.

Pirelli focuses strongly on its collaboration with suppliers, considered key business partners for the success of its corporate strategy. To this regard, the Director of the Procurement Department, Pierluigi de Cancellis, said : “The Pirelli focus is increasingly on the Premium segment, sharing with its suppliers a business approach in which flexibility, speed, transparency and commitment to ongoing and sustainable innovation form the bases of the supply relationship. This is why the relationship can be described as a true partnership, centred on shared growth and looking to the future.
As well as raw-material suppliers, this year we have rewarded companies operating in logistics and IT tools, a demonstration that multiple and diversified skills, combined with those of our Group, help further Pirelli’s success thanks to innovative contributions driven by know-how and experience.”

  • Share to Facebook
  • Share to Twitter

Pirelli board approves results for 3 months ended 31 March 2016

-      Further Premium growth with revenues accounting for 67.1% of Consumer business

-      Significant price/mix growth: +6.1% thanks to price increases and better sales’ mix

-      Efficiencies of 30.5 million euro (21.1 million euro in Q1 2015), in rapid progress compared with the 4-year 2014-2017 plan for 350 million euro

-      Operating result (Ebit before non-recurring and restructuring charges) increasing to 215.5 million euro (+4.2% compared with Q1 2015 on like-for-like basis)

-      Continuing improvement of Consumer business profitability, at 17.1%

-      Increased profitability in the Apac, Nafta and Europa areas

-      Industrial Business impacted by persistent weakness of South America

The Board of Directors of Pirelli & C. SpA met today and approved the group’s results for the three months which ended on March 31, 2016. It should be noted that Pirelli de Venezuela C.A. was deconsolidated at the end of 2015: the operating results for 2015, for the purposes of comparison, are presented applying the same perimeter of first quarter 2016. The following are the main elements which characterized the quarter:

-       Revenues were 1,436.0 million euro, with organic growth (applying the same perimeter and net of the forex effect of negative 9.3%) of 5.1%, thanks to the significant improvement of the price/mix component (+6.1%) as a result of price increases in emerging markets, greater sales in the Replacement channels and the diverse geographic and product mix. This performance more than offset the slight reduction in volumes (-0.8%, mainly in emerging markets and the Industrial business) and reduction of sales of other activities (-0.2%).

-       Further reinforcement of Premium, with volume growth of 11.7%, above the global premium market trend (+10%) and organic revenue growth of 10.5% to 781.9 million euro. Premium accounted for 67.1% of Consumer revenues, a decided (?) increase from 61.2% in the same period of 2015 (with the same perimeter).

-       Ebitda before non-recurring and restructuring charges was 290 million euro, an increase of 2.5%  compared with 282.9 million euro in the same period of 2015 with the same perimeter, with an Ebitda margin of 20.2%, an increase from 18.9% in the same period of 2015 with the same perimeter;

-       Ebit before non-recurring and restructuring charges was 215.5 million euro, an increase of 4.2% compared with 206.9 million euro in the first quarter of 2015 with the same perimeter, with an Ebit margin increasing to 15% (13.8% in the first quarter of 2015 with the same perimeter). This result benefits from, among other things, the achievement of 30.5 million euro in efficiencies (21.1 million euro in the first quarter of 2015), which is the implementation of the 4-year 2014-2017 plan of 350 million euro;

-       At the geographic level, profitability improved in Europe, Apac and Nafta thanks to significant growth in the Premium segment.


The result from participations was negative 42.5 million euro mainly attributable to the impact deriving from devaluations and value adjustments of affiliates Fenice S.r.l. and Prelios S.p.a., as well as Rcs.

The total net result was 40.4 million euro (84.6 million euro in the same period of 2015) and reflects, as well as the negative impact of the result of participations, the 30.6 million euro increase in net financial charges, mainly due to the early repayment of the US Private Placement bond loan.

The net cash flow from operations improved, passing from -688.9 million euro in the first quarter of 2015 to – 499.9 million euro in the first quarter of 2016, thanks to the management of working capital.

Investments totaled 74 million euro (85.6 million euro in first quarter 2015), mainly earmarked for increased Premium capacity in Europe, Nafta and China, as well as improvements in mix.

The total net cash flow was negative 704.6 million euro, an improvement compared with -753.3 million euro in the first quarter of 2015, when the entry included a positive impact of 24.4 million euro deriving from a payment trance from the disposal of the steelcord activities.

The net financial position was negative 1,903.7 million euro, compared with 1,946.6 million euro in the same period of 2015 with the same perimeter and 1,199.1 million euro on December 31, 2015.

Employees on March 31, 2016 numbered 35,899 (37,527 in the first quarter of 2015 and 36,753 at the end of December 2015)

PDF Version (209 KB)