Consolidated Financial Position
|Pirelli in figures (1,44 MB)|
As of September 30, 2014 Pirelli Net Financial Position reached 2 billion euro. The cash absorption in the nine months is essentially due to:
- usual seasonality of net working capital. We foresee strong cash generation in the last quarter of the year, connected to stock reduction and receipts from seasonal markets and from the Winter sales in Europe and Russia;
- investments of 244.7 million euro mainly destined to the increase of Premium capacity in Europe, NAFTA and China and to mix improvement;
- dividend payment to shareholders (160 million euro).
Confirmed 2014 FY target of approximately 1.2 billion euro.