Trends in the share market in the week 31 August-4 September 2009 showed significant profit-taking. The most important European financial markets recorded average losses of over 2% with sales striking mainly those markets and shares which had benefitted most from the August rally. As indeed happened in the auto sector (-3.4%) and securities such as Pirelli & C which closed the week at 0.318€ (-6.3%) after gaining over 23% since publication of the half-year results (29 July) on 28 August 2009.

Profit-taking also occurred in the real estate sector with Pirelli RE at -5.8% (0.594€), losing ground from the peak prices of the previous week (share performance for the last week of August +12.3%).

For further information: Investitori > Pirelli on the stock market > Peer & Markets; or click here.

For the second quarter in a row, Pirelli recorded one of the best operating performance in the International tyre sector.
In a difficult market environment, impacted by the economic crisis, Pirelli limits the revenues slow down in 2Q09 (-9.2% vs. -21% of the sector) thanks to the favorable geographic positioning as well as the year over year price mix improvement (+5.2%). Moreover, Pirelli is one of the few players that significantly improved its performance versus the 1st quarter 2009 (+6.6% the top line increase vs. 1Q09).
On profitability, Pirelli is the only player -besides Continental- to record a positive trend reaching an 8.6% Ebit margin in 2Q09, +0.5pp vs. 2Q08 thanks to the raw material cost reduction and to efficiency/savings related to the restructuring program launched in 2008.

For further information: Investors > Pirelli on the Stock Market  > Peers Markets; or click here.