Consolidated Financial Position

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Consolidated net financial position was negative for 1,965.6 million euro, compared with 1,322.4 million euro on 31 December 2013.

The increase is linked to the seasonality of the business in the first quarter of the year, characterized by higher receivables which will be cashed in during the second quarter.

The trend in net financial position is consistent with our full-year target of approximately 1.2 billion euro at constant consolidation perimeter.

Pirelli FY 2013 Net Financial Position

Last Revised: 15 May 2014