Pirelli results up in 9-month report

Milan, Italy – Italian tire company Pirelli has announced its nine-month report showing a healthy growth in profit and income during the third quarter of 2014.

Revenues in the first nine months of 2014 were €4,528.7 million, showing a 1.3 percent drop compared to the corresponding period last year. Earnings (EBIT) to 30 Sept was up 8.9 percent from €578.2 million in 2013 to €629.7 million in 2014.

In tire activities the EBIT grew by 7.4 percent to €640.3 million compared to €596.3 million in Sept 2013.

Pirelli forecast its target EBIT for 2014 at €850 million, lowering its expected revenues to a range of €6.1-6.2 billion, from previous estimates of around €6.2 billion.