PIRC.MI - Pirelli & C. S.p.A.

Milan - Milan Delayed price. Currency in EUR
+0.0870 (+1.93%)
At close: 05:35PM CEST
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Previous close4.5190
Bid4.5930 x 0
Ask4.5950 x 0
Day's range4.4820 - 4.6140
52-week range3.2210 - 5.0620
Avg. volume2,045,649
Market cap4.606B
Beta (5Y monthly)1.33
PE ratio (TTM)10.97
EPS (TTM)0.4200
Earnings date03 Aug 2023
Forward dividend & yield0.22 (4.82%)
Ex-dividend date24 Jul 2023
1y target est5.60
  • Reuters

    Italy probing China's possible growing influence on Pirelli -sources

    The Italian government, which is assessing tyre maker Pirelli's new shareholder agreement, is concerned about plans to allow top shareholder China's Sinochem to appoint more board members and potentially choose future CEOs, two sources said. Italy's right-wing government has to approve the scheme under "Golden Power" rules aimed at protecting assets deemed strategic for the country, at a time when relations between China and Western countries have entered a tenser phase. Sinochem, Pirelli's largest shareholder with a 37% stake, notified the Italian government in March of plans to renew and update an existing shareholder pact with fellow investor Camfin, the vehicle of Pirelli's CEO Marco Tronchetti Provera.

  • Reuters

    Pirelli sees end of Golden Power process on governance agreement after early June

    MILAN (Reuters) -Pirelli said on Thursday it expected Italy would conclude its review of governance agreements involving the holding in the tyre maker by China's Sinochem after early June, pushing it to further postpone the appointment of its new board. Earlier this year, Pirelli said Sinochem, its largest shareholder, with a 37% stake, notified Italy's government of plans to renew and update an existing shareholder pact with fellow investor Camfin, the financial holding of Pirelli's CEO, Marco Tronchetti Provera. Italy's right-wing administration has to approve the scheme under "Golden Power" rules aimed at protecting assets deemed of strategic importance for the country.

  • Reuters

    Pirelli postpones AGM as Italy reviews shareholder pact with Chinese investors

    Italian tyre maker Pirelli said on Wednesday it had postponed its shareholder meeting until June 29 due to government scrutiny of governance agreements involving China's investor Sinochem. Sinochem is Pirelli's largest shareholder with a 37% stake. Earlier this year Pirelli said Sinochem had notified Italy's government of plans to renew and update an existing shareholder pact with Camfin, which is the financial holding of Pirelli's Chief Executive Marco Tronchetti Provera.

  • Reuters

    Italy reviews limiting China's Sinochem influence over Pirelli -Bloomberg News

    Sinochem is Pirelli's largest shareholder, with a 37% stake. Italian officials are discussing several options as part of talks with Pirelli investors over the company's ownership structure, the report said. These options include limiting information sharing on sensitive and strategic technology with Sinochem-appointed board members, the report said, adding that they may also limit voting rights of board members that Sinochem appoints.

  • Reuters

    Brembo chairman says Pirelli merger deal not on the table

    MILAN (Reuters) -The executive chairman of Italian brake maker Brembo ruled out on Friday any short-term plans for a tie-up with tyre manufacturer Pirelli. "There is nothing on the table," Matteo Tiraboschi told Reuters when asked about a possible merger. Long-running speculation about a combination of the two premium auto parts suppliers was rekindled this week by news that Brembo signed a shareholder agreement to align its voting at Pirelli's shareholder meetings with fellow investor Camfin.

  • Reuters

    Pirelli shareholder accord boosts M&A speculation with Brembo, analysts say

    An accord for Brembo to align voting with Camfin at Pirelli shareholder meetings supports speculation of an eventual merger between the Italian tyre maker and Brembo, analysts said on Wednesday. Camfin is an investment vehicle of Pirelli CEO Marco Tronchetti Provera and has a 14.1% stake in the company with options to buy a further 4.6%. Brembo - controlled by the Bombassei family - has a 6% shareholding.

  • Reuters

    Pirelli sees scope for higher 2023 revenues after strong results

    Pirelli sees higher revenues in 2023

  • 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".