Sustainability Channel

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


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THE PIRELLI & C. S.P.A. BOARD OF DIRECTORS APPROVES THE 31 MARCH 2018 RESULTS

-       Revenues in organic growth of 5.7% to 1,310.3 million euro (1,339.3 million euro in first quarter 2017), the overall variation -2.2% after exchange rate impact of -7.3%

-       Marked growth in High Value segment: organic growth of revenues +13.4%, with a percentage on turnover of 63.6% (57.9% in first quarter 2017). High Value volumes growing by 12.8%

-       Price/mix strong improvement: +7.2% in first quarter 2018 (+5.5% in first quarter 2017)

-       Adjusted Ebit before start-up costs: +4.5% to 229.4 million euro (219.5 million euro in first quarter 2017), with a margin on revenues increasing to 17.5% (16.4% in first quarter 2017)

-       Net income from continuing operations: +86.7% to 92.4 million euro (49.5 million euro in first quarter 2017)

-       Net financial position at 3,938.9 million euro (5,525.2 million euro in first quarter 2017)

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2018 FORECASTS

-       Profitability targets confirmed (Adjusted Ebit before start-up costs >1 billion euro and Adjusted Ebit at ~1  billion euro)  and Net Financial Position (~2.3x ratio of NFP/Ebitda Adjusted before start-up costs)

-       Strengthening of High Value (60% weight on revenues, 83% weight on Adjusted Ebit before start-up costs)

-       Organic revenue growth expected at equal or above +9% (~+4% including forex effect and the application of new IFRS 15 accounting principle)

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As a consequence of the assignment in March 2017 by Pirelli & C. S.p.A. to the parent company Marco Polo International Holding Italy S.p.A. of the shares of TP Industrial Holding S.p.A., the company into which almost all of Pirelli’s Industrial assets were conferred, in continuity with the 2017 financial year, some residual activities in China and Argentina relative to the Industrial business are qualified as a “discontinued operation”. The separation process is expected to be completed during the financial year.

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Milan, 14 May 2018 - The Board of Directors of Pirelli & C. S.p.A. reviewed and approved the 31 March 2018 results, which are in line with the programme of focus on High Value, and highlight growth of the key economic indicators. In particular:

  •   the organic growth of revenues thanks to Pirelli’s strengthening in High Value in all Regions, with the progressive reduction of its exposure to the standard segment;
  •   the improvement of the price/mix component;
  •   the improvement of profitability by 1.1 percentage points to 17.5%;
  •   the further reinforcement of partnerships with Prestige and Premium car makers;
  •   the expansion of High Value production capacity, mainly in Europe and Nafta;
  •   the extension of the distribution network coverage in Europe, Nafta, Apac and LatAm;
  •   the continual development of business programmes that intercept the new needs of the end customer (such as Cyber and Velo). These are accompanied by the plans for the company’s digital transformation and the reconversion of Aelous brand production to the Pirelli brand in the Jiaozuo Aeolus Car plant.

Published on: 14 May 2018, 17:43 CET

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PIRELLI & C. S.P.A. BOARD APPROVES RESULTS FOR YEAR TO 31 DECEMBER 2017

The Board of Directors of Pirelli & C. S.p.A. reviewed and approved results for the 12 months which ended on December 31, 2017.

Pirelli achieved significant results in the environmental, social and economic context in 2017.

Compared with 2016, Pirelli registered a 4% reduction in the specific consumption of energy, a 14% diminution of water drawing, a more than 4% reduction in specific CO2 emissions, and a 5% increase in the use of electricity from renewable sources of the total used, which brings the weight of renewable to 43% compared with 38% in 2016. With regard to waste, 93% was sent for recovery, underlining the effectiveness of the move towards the goal of “zero waste to landfill”, that is all waste destined for recovery.

Of primary importance was the investment in the “culture of health and safety in the workplace” and in training, with the indicator of accident frequency falling by 18% in 2017 from 2016 and an investment in training that reached an average of 8 days per employee, thus exceeding for the fifth consecutive year the target of an average of 7 days per capita foreseen for years in the company’s Plans.

In 2017, further, Green Performance tyres accounted for 42% of total tyre sales (up from 40% in 2016).

With regard to the drafting of Pirelli’s policy for the sustainable management of natural rubber, in 2017 multi-stakeholder consultations were of particular importance. These included consultations with Pirelli’s main suppliers of natural rubber, international NGOs, rubber merchants and producers, automotive clients and multi-lateral international organizations.

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Pirelli Global Industry Leader in Sustainability

 

RobecoSAM

 

This year, Pirelli received a Gold Class Award and achieved first place worldwide in the Auto Component industry in RobecomSAM’s 2018 Sustainability Yearbook, which saw the assessment of 2,479 companies from all over the world, obtaining a score of 83 points, compared to an average score of 42.

Every year since 2004, The Sustainability Yearbook has listed the world’s most sustainable companies in each industry as determined by their score in the Dow Jones Sustainability Index.

The assessment uses various criteria to rate companies, evaluating them based on their capacity to innovate, attract and cultivate talent, improve efficiency and interact with other industries, and also their transparency in finance, taxation and corporate governance, as well as on their social and environmental impact. These are only some of the criteria that RobecoSAM, the company which assess the annual Dow Jones Sustainability Index, takes into consideration when compiling its Sustainability Yearbook.

Aris Prepoudis, CEO of RobecoSAM enthusiastically stated: “I offer my warmest congratulations to Pirelli for being awarded a Gold Class medal in the 2018 Sustainability Yearbook. The companies included in the Yearbook are the most sustainable in the world and are helping to make the UN Sustainable Development Goals ever more achievable.”