Pirelli-Annual results16

Pirelli finishes 2016 on a high note

Milan, Italy – Pirelli managed year-on-year revenue-growth of 1.6%, to €6.0 billion, for the full financial year 2016, the Italian tire-maker announced 31 March.

Earnings (EBITDA before non-recurring items) grew 2.4% to €1.18 billion, driven by “solid organic growth”. This was backed by a strong performance at its premium tire segment which Pirelli said now accounts for 64% of consumer tire sales.

The company linked the improvement to volumes growth, price/mix and efficiencies. These factors offset forex volatility, increased raw material costs and inflation in emerging markets.

The…

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