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 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 2014, financial communication was aimed further strengthening dialogue with key stakeholders: institutional investors (who now represent 48.4% of the share capital), individual shareholders (around 10% of the share capital), bond holders and financial analysts.
The roadshow and meeting activities, together with growing investor interest in the specific details of the Pirelli equity story in the Tyre Business, has led to the growing internationalisation of the shareholder base. At December 31, 2014 foreign institutional investors represented 43% of ordinary share capital (36% in November 2013, 27% at December 31, 2011).
Pirelli dedicates attention to relations with the ratings agencies that specialize in sustainable finance. Specific roadshows are held with Socially Responsible Investors in the principal world financial centers.
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