Pirelli Posts Double-digit Growth in Revenue, Earnings

Pirelli & C. SpA has reported double-digit growth in both third-quarter and nine-month results, primarily driven by favourable price/mix and the group’s ongoing efficiency programme.

Over the three months to end of September, Pirelli reported a 22.8% increase in adjusted EBIT (adjusted earnings) to €272 million, on nearly 30% higher year-on-year sales of €1.83 billion.

Overall, third quarter volumes grew 1.8%, reflecting an increase of 8.2% in the ‘high-value’ large rim-sized tires and a decline of 5.7% in standard tires, Pirelli announced 3 Nov. …

Source: ERJ