UK Markets closed

Pirelli & C. S.p.A. (PIRC.MI)

Milan - Milan Delayed price. Currency in EUR
Add to watchlist
4.3080+0.0170 (+0.40%)
At close: 05:35PM CEST
Full screen
Loading interactive chart…
  • Reuters

    Pirelli raises sales target as pricing power offsets inflation

    Strong pricing power and cost savings will help Pirelli offset economic challenges, the Italian tyremaker said on Thursday as it beat second-quarter operating profit expectations and raised its full-year revenue forecast. Higher commodity costs of 116 million euros weighed on the result along with 88 million euros in increased production costs, the company said. Chief Executive Marco Tronchetti Provera told analysts that Pirelli's business model, which focuses on high-value tyres, and its capacity to quickly respond to critical issues "makes us confident that we can cope with an increasingly challenging scenario".

  • Reuters

    Pirelli's shareholders indicate Bruno as new CEO, extend pact

    Pirelli investor Camfin said on Monday that it and fellow shareholder ChemChina have indicated Giorgio Luca Bruno, the Italian tyremaker's deputy chief executive officer, as the company's new CEO from the spring of next year. Camfin and ChemChina agreed that the current CEO, Marco Tronchetti Provera, would be the company's executive vice chairman from next year until the spring of 2026, Camfin said. Tronchetti Provera will guide Pirelli's strategy and oversee the implementation of its business plan as well as keeping the company's relationships with shareholders, institutions, investors and the media, Camfin said in a statement.

  • Reuters

    Pirelli moves to soften Ukraine impact as profits rise

    MILAN (Reuters) -Pirelli said on Tuesday it had sought alternative suppliers, increased stocks and shifted production since March to mitigate the impact of Russia's invasion of Ukraine. Russia, where the Italian tyremaker operates two plants, accounts for around 3% of Pirelli's revenues and around 11% of its total car tyre capacity, especially in the standard segment, with about half of that intended for export. Pirelli, which on Tuesday said its operating profit grew 35% in the first quarter, said previously it had halted investments in Russia, excluding those linked to security, and activities at its plants were being progressively limited and set just for the local market.