ERJ staff report (TP)
Milan, Italy – The Board of Directors of Pirelli & C. SpA reviewed and approved the results for the three months which ended on 31 March 2014 – reporting a net profit of 26.1 percent to €90.4m.
Results were driven by recovery in Europe and a significant improvement in profitability in Russia.
EBIT was +12.6 percent at €201m (€178.5m on 31 March 2013).
Revenues was €1,473.2m, with organic growth of 8.0 percent; -2.7 percent from €1,514.6m on 31 March 2013 including the exchange rate effect (-10.7 percent).
Premium revenues were €639.9m, with organic growth of 16.4 percent; +12.9 percent including exchange rate effect (-3.5 percent).
In terms of tire activities, Pirelli said EBIT was +11.2 percent to €204.9m (€184.3m on 31 March 2013). Revenues was €1,469.5m, with organic growth 8.4 percent; -2.4 percent compared with €1,505m on 31 March 2013 including exchange rate effect (-10.8 percent).
The Group headcount on 31 March 2014 stood at 38,529 (37,846 on 31 March 2013).
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
More details in the press release from Pirelli