Pirelli Exceeds Revenue Target Despite Fourth Quarter Woes

Milan, Italy – Pirelli & C. SpA has delivered ‘above-target’ results for the year 2021, despite raw materials and logistics challenges in the fourth quarter of the year.

Sales came in at €5.3 billion, up 24% compared to 2020, and above the previously announced target of €5.1 and €5.15 billion, Pirelli reported 23 Feb.

Volumes grew 15.7% supported by ‘high value’, large-rim-sized segment, which was up 20.2%, exceeding the target of 17%-18% growth. Price/Mix also improved 9.1% year-on-year, helping Pirelli achieve higher sales. …

Source: ERJ