Pirelli reports growth ahead of IPO

Milan, Italy – Ahead of a planned IPO in October, Pirelli & C SpA has announced first-half results as a ‘carve-out’ premium passenger car tire company, registering growth in revenues and earnings.

In a strategic plan for 2017-2020 published 1 Sept, the Italian tire maker said in the six months to end of June revenues totalled €2.68 billion, up 10.6% compared to the same period the year before.

Adjusted earnings (EBITDA) was €546.4 million, 3.1% higher than in the first half of 2016.

Volumes saw an overall increase…

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