Sustainability Channel

Sustainability Channel is the communication channel towards our stakeholders interested in Sustainable approach to the business.


  • Share to Facebook
  • Share to Twitter

The Pirelli & C. SpA Board approves Consolidated Results at 30 September 2013

• STRONG DEMAND IN EMERGING COUNTRIES OFFSETS WEAKNESS IN EUROPE AND RUSSIA

• GROWTH IN VOLUMES IN THIRD QUARTER SUSTAINED MAINLY BY PREMIUM

• OPERATING IMPROVEMENT IN THIRD QUARTER COMPARED WITH LAST YEAR AND THE PRIOR QUARTER THANKS TO EFFICIENCIES AND DESPITE EXCHANGE RATE EFFECT

• IN THE THIRD QUARTER EBIT MARGIN GROWS TO 13.2% FROM 12.6% A YEAR EARLIER

PIRELLI & C. SPA

• REVENUES 4,649.9 MILLION EURO ON 30 SEPT. 2013 (+1.7% COMPARED WITH 4,574.1 MILLION A YEAR EARLIER), AN INCREASE OF 8.3% WITHOUT EXCHANGE RATE EFFECT

• PREMIUM REVENUES: 1,675.3 MILLION EURO (+3.9% FROM 1,612.3 MILLION A YEAR EARLIER)

• TOTAL VOLUMES +6.0% IN THE NINE MONTHS

• PREMIUM VOLUMES +11.7% IN THE NINE MONTHS

• INDUSTRIAL VOLUMES +11.8% IN THE NINE MONTHS

• EBIT: 581.7 MILLION EURO (-3.2% FROM 600.8 MILLION A YEAR EARLIER)

• EBIT MARGIN AT 12.5% FROM 13.1% A YEAR EARLIER

• NET PROFIT 258.1 MILLION EURO (-14.9% FROM 303.3 MILLION A YEAR EARLIER)

• NET FINANCIAL POSITION NEGATIVE 1,970.9 MILLION EURO (1,732.6 MILLION EURO ON 30 JUNE 2013) FOLLOWING IMPACT OF PRELIOS OPERATION

TYRE ACTIVITIES

• REVENUES 4,625.8 MILLION EURO (+1.8% COMPARED WITH 4,542.9 MILLION A YEAR EARLIER), AN INCREASE OF 8.4% WITHOUT EXCHANGE RATE EFFECT

• EBIT 599.8 MILLION EURO (-3.3% FROM 620.3 MILLION A YEAR EARLIER)

• EBIT MARGIN 13.0% FROM 13.7% A YEAR EARLIER

• CONSUMER BUSINESS EBIT MARGIN 12.8% (14.8% A YEAR EARLIER)

• INDUSTRIAL BUSINESS EBIT MARGIN 13.5% (10.5% A YEAR EARLIER)

2013 TARGETS

• TOTAL REVENUES SEEN AT APPROX. 6.2 BILLION (APPROX. 6.3-6.35 BILLION PREVIOUSLY)

• TOTAL VOLUMES INCREASE BETWEEN 6% AND 6.5% (BETWEEN 5.5% AND 6.5% PREVIOUSLY)

• CONSOLIDATED EBIT APPROX. 790 MILLION EURO (DUE TO EXCHANGE RATE EFFECTS AND RUSSIA PERFORMANCE COMPARED WITH APPROX. 810 MILLION PREVIOUSLY)

• INVESTMENT CONFIRMED AT APPROX. 400 MILLION EURO

• CASH GENERATION BEFORE DIVIDENDS CONFIRMED ABOVE 200 MILLION EURO AND NET FINANCIAL POSITION BELOW 1.2 BILLION EURO, BEFORE PRELIOS IMPACT

• BOARD CO-OPTS GAETANO MICCICHẾ

* * *

Following the coming into effect from 1 January 2013 of the new principle IAS 19 revised “Benefits to employees”, the data relative to 2012 were restated. In the present document, the comments of variation with respect to 30 September 2012 always refer to restated data, unless otherwise indicated.

* * *

The Board of Directors of Pirelli & C. SpA today reviewed and approved the interim financial results as of 30 September 2013.

The first nine months of 2013, as had already emerged in the first six months, reflected the weakness in the European economy which for Pirelli meant a falloff in sales in the area, albeit with signs of recovery in the third quarter compared with the previous quarter. The Russian market also showed signs of slowing due to changes in the economic climate and a fall in vehicle registrations following the end of government incentives, with a consequent downturn in consumer demand, both for the Original Equipment and Replacement markets.
The healthy trend in emerging markets meanwhile has more than offset the weakness in mature markets, with an 8% increase in revenues compared with a fall in sales in Europe and North America. Performance was particularly positive in South America (+9%) and in Apac (+16%), while the Middle East/Africa area reported results in line with the previous-year period.

Volumes grew in both business segments: +3.9% in Consumer (+6% in Q3) thanks to increased sales in South America and Premium’s strong performance in China and Nafta as well as Europe, while Industrial growth was 11.8% (+4.0% in Q3) mainly focused in South America.

Performance for the Premium segment was positive, with 3 times the growth in volumes compared with those of the Consumer segment, and a favourable trend in demand in emerging countries, in particular in the third quarter.

Sales and operating profit in the first nine months of 2013 both felt the impact of exchange rates, which were particularly unfavourable in the third quarter of 2013 largely due to currency devaluations in Latin America, Turkey, Egypt and Japan. Notwithstanding forex effects, EBIT in Q3 came to 201.0 million euro, up 2.8% from the corresponding period of 2012. This figure includes a negative exchange rate impact of 18.8 million euro.

Net cash flow from operations was also positive in the third quarter (as in Q2), for 45.3 million euro compared with a negative 62.1 million euro in the same period of 2012.

PDF Version (110 KB)


  • Share to Facebook
  • Share to Twitter

In Pirelli the world’s first solar plant for the production of average temperature steam

Pirelli and the Italian Ministry of the Environment, with the collaboration of the Forum das Américas, last week presented a project for the construction of the world’s first large dimension solar plant for the onsite production of average temperature steam at the service of the manufacturing cycle of the Pirelli factory at Feira de Santana in the state of Bahia, Brazil.

The creation of the plant brings into effect a collaboration agreement signed in January 2012 by the Ministry and Pirelli for the purpose of reducing carbon dioxide emissions. It is within the context of the environmental cooperation between Italy and Brazil, which was reinforced in June 201 by an agreement signed with Italy’s Minister of the Environment and the Brazilian Minister of Energy.

Taking part in the event were the director general of sustainable development, the climate and energy of the Ministry, Corrado Clini; the consul general of Italy at San Paolo, Mauro Marsili; the director of the ICE Agency of Sao Paolo, Federico Balmas; the president of Pirelli South America, Paolo Dal Pino; and the president of Forum das Américas, Mario Garnero.

Among the project’s participants is the Milan Polytechnic, a seat of learning that has already worked with Pirelli in the field of research and that will be responsible for the preliminary study of the project, and the Gruppo Angelantoni. The Group will supply the exclusive concentrated solar thermo-dynamic technology, developed in Italy with a contribution of the country’s Ministry of the environment. In line with collaboration agreements with the Ministry of the Environment, the Italian Foreign Commerce Agency, ICE and the Brazilian organisation Forum das Américas will ensure the project is monitored during its construction.

The solar plant will be will be connected directly to the steam line used for the production of tyres and the solar catchment area will cover an area of 2,400 square metres within the Feira de Santana factory boundaries.

Maximum power of the system could reach 1.4 MW and will provide a quota of the installation’s normal thermal supply production cycle.


  • Share to Facebook
  • Share to Twitter

PIRELLI: SHAREHOLDER BLOCK AGREEMENT DISSOLVED AHEAD OF SCHEDULE

At the conclusion of consultations conducted by the Directorship of the Pirelli & C. SpA Shares’ Shareholder Block Agreement, the members of the block agreement (Assicurazioni Generali S.p.A., Camfin S.p.A., Edizione S.r.l., Fondiaria-SAI S.p.A., Intesa Sanpaolo S.p.A., Mediobanca S.p.A, Massimo Moratti and Sinpar S.p.A) agreed to dissolve the agreement with effect from today, thus ahead of the expected dissolution date of April 15th, 2014.

From October 31st, 2013, the members are therefore definitively and irrevocably freed of the commitments and obligations deriving from the block agreement.

More

Categories: Sustainability