Pirelli premium strategy drives 10% earnings growth

Milan – Pirelli & C. SpA’s strategy to focus on high value, premium tires has paid off with a 9.7% year-on-year increase in earnings (EBIT adjusted before non-recurring items, restructuring and start-up costs) for the first nine months of 2017 at €681.2 million.

The Milan-based tire maker attributed the increase to price/mix, volumes and efficiencies, which it said “more than offset” higher raw-materials costs.

The Italian company, which now solely manufactures passenger car and light vehicle tires, said its revenues increased by 9% to €4.0 billion for…

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