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.