Pirelli Consolidated Results to JUNE 30, 2025

The Board of Directors of Pirelli & C. Spa met today and majority approved results to 30 June 2025 with the favourable vote of 9 out of 15 board members. Votes against were those of Chairman Jiao Jian and Board members Chen Aihua, Zhang Haitao, Chen Qian and Fan Xiaohua, while Grace Tang abstained.

The motivation of the board members who voted against the half-year financial report was solely linked in continuation with that which was done when the 2024 results were approved – to the declaration of the cessation of Sinochem’s control over Pirelli contained in the section of significant events during the semester of the report.

The 2025 first half results underscore a solid operating performance, despite the challenging context, confirming the effectiveness of the business model and key programs of the Industrial Plan. In particular:

Commercial Program

The first half of 2025 saw further strengthening in High Value. In Car ≥18” volume growth was+5% (market +4%), with a reinforcement of the share both in the Replacement channel (Pirelli volumes +6% compared with market’s +5%) and in Original Equipment (Pirelli volumes +4% compared with market’s +3%) thanks to the strengthening of partnerships with the main car makers in North America and Apac. There was a further reduction of exposure to Standard (Pirelli Car ≤17” volumes -9% compared with a stable market), in line with the strategy of greater selectivity, particularly marked in South America, to focus on more profitable products and channels.

The performance described above translates into substantially stable Car volumes on an annual basis, compared with slight growth (+1%) of the market.

Innovation Program

In the first half of 2025 the company obtained around 110 new homologations with the main Prestige and Premium car makers, mainly concentrated in ≥19” rim sizes and Specialties. Leadership in OE marked tyres was further consolidated: in Europe, for example, Pirelli can count on a portfolio of 1,300 homologations in Car ≥19”, around 3 times greater than the average of competitors.

In terms of product innovation, the offering was reinforced with the launch of four Car products (the fifth edition of the P Zero at the global level, the sector’s UHP tyre of reference, developed with Artificial Intelligence and virtualization; the new generation of the Cinturato – a summer tyre for the European market; Scorpion XTM All Terrain for North America; Cinturato P6 for the Apac market), two for Moto (Diablo Powercruiser and Scorpion MX32 Mid Soft, available in all regions) and four for Cycling (Cinturato EVO and P Zero Race for the Road segment; Scorpion XC M and Scorpion XC RC for the mountain bike segment).

In addition, the strategic partnership with Bosch GmbH continues for the development of new software-based solutions and new driving functionalities, thanks to sensors embedded in the tyres and Pirelli’s proprietary software. The collaboration also continues with Movyon, a company of the Autostrade per l’Italia group, for the monitoring of road surfaces. This was added to by the cooperation with the Regione Puglia, announced on 10 June, to launch a monitoring system for the regional road network with the aim of creating a map of the “state of health” of Puglia’s roads.

Operations Program

In the first half of 2025 the company achieved gross efficiencies of 69.7 million euro, in line with expectations and the program’s development schedule. Looking at the Supply Chain, projects are continuing aimed at making the supply chain always more integrated, sustainable and oriented to customer needs.

In the first half of 2025 Pirelli posted growth in the main economic indicators. Revenues were 3,498.6 million euro, growing 1.5% compared with the first half of 2024 and with organic growth of +4.4% (impact of forex and hyper-inflation in Argentina and Turkiye -2.9%). High Value represented 80% of total sales (77% in first half 2024).

In the second quarter of 2025 revenues were 1,740.0 million euro, -0.7% compared with the same period of 2024. Organic revenues growth was +4.0% (-4.7% impact of forex and hyper-inflation in Argentina and Turkiye). …

Source: Pirelli