Financials

Results as of March 31, 2012

Pirelli & C. ends the first quarter of 2012 with further improvements in key economic indicators and profitability, notwithstanding the persistent macro-economic slowdown, particularly in Europe.

Pirelli & C.

  • Revenues at 1,556.5 million euro, an increase of 11% compared with the first quarter of 2011, thanks to the continued growth in the Premium segment (revenues +29%, volumes +15.8%), now accounting for 52.6% of Car revenues (47.4% in Q1 2011), and the price/mix improvement (+16.5%);
  • Volume reduction in the truck business (-12%) and in the Consumer Non Premium segment (-14.5%), in line with the economic trend;
  • Record profitability with Ebit margin at 13.5% (14% for the Tyre business), increasing by 3 percentage points compared with the first quarter of 2011. Ebit was 209.4 million euro, up 46.1% on a yearly basis;
  • Consolidated net profit attributable to Pirelli & C. SpA amounted to 122.9 million euro, +48.4% compared with the first quarter of 2011;
  • Net Debt was 1.3 billion euro (0.7 million euro at year-end 2011); the variation was due to working capital seasonality as well as cash out for € 154.5 million euro related to the acquisition of Russian production facilities in Kirov and Voronezh;


2012 targets

Last revised: 17 Mag 2012