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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.”

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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)

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Growth of revenues from Green Performance products, reduction of specific water drawing, increased rate of waste recovery, training days per employee beyond the targets of the industrial plan, new partnership with strategic suppliers for natural rubber, in support of producers of natural rubber and safeguarding bio-diversity. These are the main results of Pirelli’s Sustainability Strategy, broken down through the company’s various profiles: economic, environmental and social. Since 2009, the base year for the mid-to-long term sustainability goals that Pirelli set for itself, significant progress has been achieved in the development and realization of Green Performance products as part of the ever greater attention to the containment of environmental impacts deriving for the entire life cycle of the tyre, is the dissemination of a culture of safety and the support of employees and the outside communities in which the company operates.

In 2015, in particular, almost half (48% compared with 46% registered in 2014) of Pirelli’s tyre revenues came from Green Performance products, almost double the 2009 level when it was equal to 25% and above the target in the 2013-2017 sustainability plan which aimed at reaching the value only at the end of 2017. These results are the fruit of intense Research & Development Activities at Pirelli’s laboratories, aimed at the development of ever more advanced tyres at both the technological and performance levels, but at the same time able to ensure better environmental performances such as reduction of rolling resistance and noise, lower weight and greater endurance. The investments in Research & Development amount annually to over 3% of total revenues, one of the highest levels in the sector, and in 2015 they totaled about 215 million euro (3.4% of total revenues) an increase from 205.5 million euro in 2014 and 133 million euro in 2009.

Among the most significant results of the company’s commitment to the safeguarding and protection of the environment is the reduction of water drawing: in 2015, in particular, Pirelli registered absolute water drawing slightly above 11 million cubic metres, with a reduction of specific drawing of 3% compared with 2014 and 42% compared with 2009. Thanks to the effort of all production sites worldwide, from 2009 to today the water savings have totaled 30 million cubic metres: a quantity only slightly lower that the Pirelli’s group’s absolute drawing over three years. Over the course of the year, further, the rate of waste recovery rose to 91%, with an increase of 1% compared with the prior year and of 18% compared with 2009.

With 20 factories worldwide, employing around 37,000 people, Pirelli has a long tradition of initiatives in favour of internal communities and the local communities where it operates. Among the former, personnel training occupies an important place, and 2015 saw an increase in the average number of training days per person to 8.3, compared with 8.2 days in 2014 and 7.2 days in 2013. A figure, which for the third consecutive year, exceeds the 7 day per person target indicated in the 2015 industrial plan.

Commitment to training has contributed to a 6% improvement in the index measuring the frequency of accidents in 2015, which brings the improvement since 2009 to 73%. Overall, in the three year period 2013-2015 the company’s investment in health and safety has exceeded 40 million euro, of which over 25% was invested in 2015.

Interventions in favour of the communities where Pirelli operates, in conclusion, increased further, last year reaching 7.6 million euro compared with 6.1 million euro in 2014.

To disseminate the culture of sustainability, the Fondazione Pirelli – born in 2009 to promote awareness of the group’s cultural, historic and document heritage – is presenting an exhibit-journey through the evolution of sustainable management. As well, documents from the historic archives, recount the company’s history of sustainability: from the display of elements that constitute a tyre’s “rubber’s soul”, to historic photos underlining activities in favour of the environment and local farmer communities.

Targets of the sustainability plan and vision to 2020

Pirelli’s Sustainability Plan completes and supports the group’s industrial plan for 2013-2017 and provides a vision to 2020. Among the objectives already exceeded are the percentage of revenues from Green Performance products and training per employee. From now through 2020 it is estimated that the index of accident frequency, already reduced by 73% compared with 2009, results reduced by 90% thanks to ongoing investments in always safer machinery and courses in safety awareness for employees. At the environmental level, the following are expected – always comparing 2020 to 2009 levels – a reduction of 15% in CO2 emissions, a fall in specific energy consumption of 18%, a decline of 58% in specific water drawing and a rate of waste recovery above 95%. Further strengthening of the sustainable management system for the supply chain, which looks at economic, social and environmental sustainability criteria fully integrated into the processes of selection, collaboration and evaluation of Pirelli’s partners around the world, with great attention to the sustainability of the natural rubber chain.

Key awards

Pirelli has always been at the top of the main sustainability indices and has received numerous awards. In April 2015 and for the second consecutive year, the company won the “J.D. Power Original Equipment Award” in the Performance Sport category, while in June it received Ford’s “Green Pillar Award”. In July CNH Industrial gave Pirelli its “2015 Supplier of the Year Award” for its biomass power plant in Brazil and collaboration with the natural rubber producer Kirana Megatara. In November, Pirelli received Volvo’s “Quality Through Excellence Award” for its plant in Yangzhou, China, while in December Pirelli’s plant in Voronezh, Russia, received the “Ford Q1 award”. In April 2016, Pirelli received the “Reputation Award 2016”, attaining third place in the annual classification calculated by the Reputation Institute which measures consumer confidence in the company. Pirelli obtained 81.5 points, calculated according to seven different parameters, almost half of which (42.5%) regard sustainability factors.

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