Pirelli confirms the targets for the year 2014 as announced in August 2014.

Applying a constant perimeter of consolidation, we expect:

  • Ebit at 850 million euro after non-recurring charges and restructuring
  • Investments below 400 million euro
  • Cash generation before dividends above 250 million euro
  • Net financial position negative for approximately 1.2 billion euro

Consolidated revenues expected at between >6.1 billion and <6.2 billion euro, substantially in line with the previous year and slightly below the previous forecast (~6.2 billion euro forecast last August) with:

  • a price/mix component confirmed growing by between +4.5% and +5.5%
  • Premium volumes confirmed growing by over 16%
  • total volumes expected to grow by over 2.5% (previous forecast ~+4.5%) taking into account the slowdown in Latam, Russia and Meai markets
  • lower negative forex impact, expected at ~-7%/~-7.5% (previous forecast ~-8.5%/~-9.5%)

Last Revised: 10 Nov 2014