Shareholders and Financial Community

 "In its relations with all classes of shareholders, with institutional and private investors, financial analysts, market operators and, in general, with the financial community, the Pirelli Group is fully transparent, complies with the requirements of accuracy, timeliness, and equal access, and aims to ensure that a proper valuation of Group assets can be made."
(Ethical Code – "Shareholders, Investors and the Financial Community")

Pirelli attributes great strategic importance to financial communication, considering it a key tool for building a trust-based relationship with the markets. Accuracy, timeliness, equality and transparency are the basic rules that Pirelli applies to its financial disclosures. Through top management and the Investor Relations Department, the Group maintains an open and transparent dialogue with analysts and investors – both individuals and institutional investors – in view of promoting fair valuation of its assets. In 2010, financial communication aimed to promote the Pirelli Equity Story.

In 2010 the Group met more frequently with investors on major financial markets (Milan, London, Edinburgh, New York, Boston, Paris, Frankfurt, Zurich, Copenhagen and Stockholm) during dedicated road-shows and participation at industry conferences. Pirelli representatives met with 408 institutions, comprised of both current and prospective investors. At the same time, coverage of Pirelli stock by investment banks was expanded, especially amongst international investment banks with specialized coverage for the tyre industry. At December 31, 2010 Pirelli stock was covered by 21 brokers who regularly publish on it, including 43% global (25% at December 31, 2008).

For years Pirelli has been dedicating special attention to relations with the ratings agencies that specialize in sustainable finance. In 2010 it also dedicated special attention to Socially Responsible Investors, with whom dedicated road-shows were held in the Paris and Frankfurt financial centres.

For more information, please go to the specific section of the website.