Consolidated Financial Position

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Net Cash Flow generation before dividends payment in 1H14 was 190 million euro, almost doubled as compared with 1H13.

The result was mainly achieved through:

  • An improvement of Net Working Capital, as we cashed-in the Winter sales booked in 1Q;
  • Reduction of Inventory.

Therefore our Net Financial Position (at the end of June) amounts to ˜1.9 billion euro, in line with full year target of 1.2 billion euro, which implies a high cash generation in the second half, in line with the seasonality of the business.


Pirelli 1H 2014 Posizione Finanziaria Netta

Last Revised: 08 Aug 2014