Premium segment drives Pirelli profits up

Milan, Italy – Pirelli revenues for the first three quarters of 2016 rose to €4.5 billion, posting an organic growth of 6.6%, driven by price rises in emerging markets and increased sales in replacement channels.

Price-mix improved 5.5% for the period as Pirelli also changed geographical and product mix, the Italian tire-maker announced 18 Nov.

Earnings (EBITDA before restructuring and other non-recurring charges) rose 1% to €872.1 million compared to the same period in 2015. Adjusted EBIT amounted to €655.0 million, up from €638.2 million in 2015.

Pirelli…

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