The 20,201 kg of CO2 emitted in 2009 by activities at the Pirelli Test Centre at Vizzola Ticino will be fully compensated for as part of an improvement programme detected by the system of environmental management certified ISO 14001 of January 2005. Pirelli Tyre has stipulated an agreement with Lifegate to evaluate, reduce and compensate for the emissions generated at the test installation.
Pirelli will underwrite the creation and protection of 26,936 square metres of forest in Italy’s Ticino Park and 5,015 square metres in Madagascar. They will generate a carbon credit that will totally compensate for the emissions produced at Vizzola, the network of tracks used by Pirelli Test Department and the car manufacturers in tyre/car development work and by the racing driver school plus other organisers of events linked to the automotive world.
This initiative is part of the Impact Zero project of Lifegate, the first in Italy to firm up on the intentions of the Kyoto Protocol, quantifying the environmental impact of activities, companies, products and people and helping to reduce and compensate for CO2 emissions with the creation and protection of new forests in Italy and the rest of the world.
Review of prelimiinary data for 9 months ended 30 September 2010
Strong growth in operating results, upward revision of 2010 Group and Pirelli Tyre targets
Pirelli Group: 2010 revenue target above 4.9 billion euros with an ebit margin over 7.5% (about 7% forecast in july) and ebit of approximately 380 million euros
Net financial debt target improved to below 700 million euros, compared with approximately 700 million euros forecast in July
Pirelli Tyre: 2010 revenue target above 4.7 billion euro with an ebit margin above 8.5% with ebit approximately 420 million euros (at least 360 million euros seen in july)
Vittorio Malacalza nominated vice president
The Board of Directors of Pirelli & C. SpA met today and reviewed preliminary data for the nine months ended 30 September 2010, in view of the definition the new 2011-2013 three-year plan. The positive performance of Pirelli Tyre in the first nine months of the year and the present market context permit a further upward revision of 2010 targets, which had already been raised when first quarter and first half results were announced. In particular, the following is foreseen:
Pirelli & C. Group
- revenue above 4.9 billion euros;
- an Ebit margin above 7.5% compared with the prior estimate of approximately 7%, with an ebit of about 380 million euros;
- net financial debt below 700 million euros compared with the earlier forecast of about 700 million euros.
Pirelli Tyre
- revenue above 4.7 billion euros;
- Ebit margin over 8.5% with ebit of approximately 420 million euros, higher than the prior ebit forecast of at least 360 million euros.
Preliminary data for the nine months ended 30 September 2010
The first nine months of 2010 confirm the positive trend seen in the first half of the year and show a marked improvement in operating results compared with the same period a year earlier.
In the first nine months of 2010, the Pirelli group registered revenue at the consolidated level of approximately 3.7 billion euros, an increase of 19% compared with the same period in 2009 (3.1 billion euros). The operating result after restructuring charges was over 300 million euros, an increase of over 65% from 30 September 2009 (182.4 million euros). The Ebit margin rose to over 8% from 5.9% in the first nine months of 2009.
For Pirelli Tyre, volume growth and a positive price/mix contribution, combined with internal efficiencies, more than compensated for the impact of higher raw material costs and other production factors, with a consequent improvement in the operating results.
In the first nine months of 2010,Pirelli Tyre’s operating result, after restructuring charges, climbed to more than 330 million euros, an increase of approximately 50% from 222.7 million euros on 30 September 2009, and equal to 9.4% (7.5% in the first nine months of 2009) of revenue of approximately 3.5 billion euros (+20% from 2,958.6 million euros on 30 September 2009).
The group’s net financial debton 30 September 2010 was approximately 700 million euros compared with 696.9 million euros on 30 June 2010 (528.8 million euros at end December 2009).
Vittorio Malacalza nominated vice president
The Board of Directors also proceeded to nominate Vittorio Malacalza as the company’s Vice President, already co-opted during the Board meeting on July 29.
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Pirelli will present its new three-year plan for the period 2011-2013, with its vision of the scenario to 2015, to the financial community on 4 November 2010.
On 16 September, work started on the reconstruction of the Ècole Congreganiste Marie Jeanne, filles de Marie, one of the three schools severely damaged by the 12 January earthquake, which will be re-built thanks to the My Time for Haiti campaign. Reconstruction of the roof, toilets, installation of the service stairs and new fixtures are the structural tasks envisaged by specifications.Meanwhile, work is proceeding at the other two schools of the United Nations’ High Commission for Refugees(UNHCR) project selected by Pirelli: the Ècole Atenoir Furmin also in the city of Belladère, and the Anse-à-Pitre Liceum at Anse-à-Pitre. By the time that work has been finished – expected to be in December – 4,000 children will finally be able to return to their school desks. As a result of the help from Pirelli and all the Group’s employees who participated in the campaign, new classrooms, services and scholastic materials will be available to the pupils so that they can study in safety and comfort.
Pictures of work underway at the Belladère school are in the photo gallery.
