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Pirelli & C. SpA

PIRC.MI

Latest Trade

3.27EUR

Change

-0.15(-4.44%)

Volume

3,073,716

Today's Range

3.22

 - 

3.43

52 Week Range

3.22

 - 

6.73

As of on the Italian SE (Mercato Continuo Italia) ∙ Minimum 15 minute delay

Latest Developments

Pirelli To Early Redeem 2023 Bond On Oct 25

Sept 22 (Reuters) - Pirelli & C SpA <PIRC.MI>::EARLY REDEMPTION OF "PIRELLI EURO 600,000,000 1.375 PER CENT. GUARANTEED NOTES DUE 25 JANUARY 2023".AMOUNT OF OUTSTANDING NOTES IS EUR 553 MILLION.BOND TO BE REDEEMED ON 25 OCT.REDEMPTION OPTION NAMED 'ISSUER CALL' WILL OCCUR AT PAR TOGETHER WITH INTERESTS ACCRUED UNTIL EARLY REDEMPTION DATE.Further company coverage: PIRC.MI. (Reporting by Gdansk Newsroom). ((gdansk.newsroom@thomsonreuters.com; +48587720920;)).

Pirelli does not see signs of weakening demand ahead, CEO says

Aug 4 (Reuters) - Pirelli's top managers told analysts in a post-earnings call::CEO: LOOKING AT 2023 CO DOES NOT SEE SINGS OF OVERSTOCKING, SO NO SIGNS OF WEAKENING DEMAND.CEO: COSTS RELATED TO RELOCATING PRODUCTION FROM RUSSIA ESTIMATED BETWEEN 30-35 MILLION EUROS, CONFIDENT THEY WILL BE FULLY OFFSET BY YEAR-END.EXEC: CO FULLY COVERED ON ENERGY COSTS FOR 2022, DOES NOT SEE MAJOR RISKS FOR THE 2022-2023 WINTER SEASON.Further company coverage: PIRC.MI. (Reporting by Milan Newsroom).

Pirelli can cope with increasingly challenging scenario - CEO

Aug 4 (Reuters) - Pirelli & C SpA <PIRC.MI>::SAYS HIGHER RAW MATERIAL COSTS WEIHGHED ON Q2 ADJUSTED EBIT FOR 116 MILLION EUROS, INFLATION OF PRODUCTION COSTS FOR 88 MILLION EUROS - SLIDE.CEO: CO CONFIDENT CAN COPE WITH INCREASINGLY CHALLENGING SCENARIO.CEO: SITUATION IN CHINA PROGRESSIVELY IMPROVING THANKS TO RESUMPTION OF PRODUCTION, GOVERNMENT INCENTIVES.CEO: CO HAS SET UP CONTINGENCY PLAN FOR ENERGY CRISIS, INCLUDING ALTERNATIVES TO NATURAL GAS, CONVERSION OF PRODUCTION PROCESSES, CONSUMPTION CUTS.Further company coverage: PIRC.MI. (Reporting by Milan newsroom).

Pirelli Q2 Net Profit At EUR 123.2 Mln

Aug 4 (Reuters) - Pirelli & C SpA <PIRC.MI>::NET FINANCIAL POSITION AT JUNE-END AT EUR 3.53 BILLION .Q2 REVENUE EUR 1.67 BILLION VERSUS EUR 1.59 BILLION IN COMPANY-PROVIDED CONSENSUS.Q2 ADJUSTED. EBIT EUR 253.1 MILLION VERSUS EUR 238 MILLION IN COMPANY-PROVIDED CONSENSUS.Q2 NET PROFIT EUR 123.2 MILLION VERSUS EUR 110 MILLION IN COMPANY-PROVIDED CONSENSUS.2022 MACROECONOMIC SCENARIO REMAINS VOLATILE, GROWTH TO SLOW DUE TO GEOPOLITICAL TENSIONS, INFLATION, COVID OUTBREAKS, MONETARY TIGHTENING.IN 2022 RUSSIA REPRESENTES AROUND 11% OF GROUP CAR CAPACITY, MAINLY STANDARD AND ABOUT HALF FOR EXPORT.2022 REVENUES EXPECTED TO BE BETWEEN ABOUT EUR 6.2-6.3 BILLION (PREVIOUS ESTIMATE EUR 5.9-6.0 BILLION), VOLUMES CONFIRMED TO GROW BETWEEN ABOUT +0.5-1.5%.CONCERNING RUSSIA-UKRAINE CONFLICT, PIRELLI HAS IDENTIFIED ALTERNATIVE SOURCES FOR IMPORT/EXPORT FLOWS, WITH PROGRESSIVE IMPLEMENTATION OF SUPPLY OF FINISHED PRODUCTS FROM TURKEY AND ROMANIA TO SUBSTITUTE RUSSIAN EXPORTS TO EUROPEAN MARKETS AND TAPPING PREDOMINANTLY LOCAL SUPPLIERS OF RAW MATERIALS TO REPLACE EUROPEAN SUPPLIERS.CONCERNING RUSSIA-UKRAINE CONFLICT, PIRELLI HAS DIVERSIFIED SUPPLIERS OF LOGISTICS SERVICES TO ENSURE CONTINUITY OF SUPPLY OF FINISHED PRODUCTS AND RAW MATERIALS.Further company coverage: PIRC.MI. (Reporting by Gdansk Newsroom). ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;)).

Pirelli's Board Approves Sustainability-Linked Bank Line Of EUR 400 Mln

June 22 (Reuters) - Pirelli & C SpA <PIRC.MI>::BOARD APPROVES NEW SUSTAINABILITY-LINKED BANK LINE OF 400 MILLION EURO.DEBT MATURITIES COVERED UNTIL FIRST HALF OF 2024.SUSTAINABILITY-LINKED CREDIT LINE WITH A 19-MONTH MATURITY.Further company coverage: PIRC.MI. (Gdansk Newsroom). ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;)).

Pirelli CEO says operations in China running despite lockdown

May 10 (Reuters) - Pirelli top executives tell analysts at a post-earnings call::EXEC SAYS IN Q1 FOREX HAD A 40 MLN EURO POSITIVE IMPACT ON REVENUE AND A 6 MLN POSITIVE IMPACT ON ADJ EBIT.CEO SAYS OUTLOOK FOR 2022 REMAINS POSITIVE DESPITE WAR IN UKRAINE EXACERBATING RAW MATERIAL PRESSURES.CEO SAYS CO EXPECTS LOCKDOWN IN CHINA TO LAST UNTIL END-JUNE, CAUTIOUSLY HOPES THE SITUATION WILL IMPROVE IN H2.CEO SAYS ITS OPERATIONS IN RUSSIA ARE IN ROUBLES AND ARE SELF-SUSTAINING.CEO SAYS CASH GENERATION IS PRIORITY.CEO, ASKED ABOUT M&A, SAYS CO HAS NOTHING IN MIND, NOTHING ON THE TABLE AT THE MOMENT.EXEC SAYS OPERATIONS IN CHINA CURRENTLY RUNNING DESPITE LOCKDOWN, OF COURSE NOW SLOWED DOWN DUE TO DROP IN DEMAND.CEO SAYS CO IS NOT EXPORTING TYRES PRODUCED IN CHINA OUTSIDE ASIA.CEO SAYS CO HAS ONLY FEW RAW MATERIALS FROM RUSSIA, ALREADY RE-SOURCED FROM OTHER SUPPLIERS.Further company coverage: PIRC.MI. (Reporting by Milan Newsroom).

Pirelli Russian tyres for Europe replaced with ones from Romania, Turkey

May 10 (Reuters) - Pirelli says in post-results slides: :HAS REPLACED RUSSIAN TYRE PRODUCTION FOR EXPORTS TO EUROPE WITH OUTPUT SOURCED FROM OTHER LOW COST PLANTS IN ROMANIA AND TURKEY - SLIDE.HAS RESORTED TO ALTERNATIVE RAW MATERIAL SUPPLIERS, INCREASED STOCK LEVELS AS PART OF ACTIONS TAKEN TO MITIGATE IMPACT OF WAR IN UKRAINE - SLIDE.HAS OPENED NEW CREDIT LINES WITH LOCAL BANKS IN RUSSIA TO ENSURE FINANCING CONTINUITY -SLIDE.Further company coverage: PIRC.MI. (Reporting by Milan newsroom).

Pirelli Q1 Net Profit Up To EUR 109.8 Mln

May 10 (Reuters) - Pirelli & C SpA <PIRC.MI>::Q1 NET PROFIT EUR 109.8 MILLION VERSUS EUR 42.2 MILLION YEAR AGO.Q1 ADJUSTED. EBIT EUR 228.5 MILLION VERSUS EUR 168.8 MILLION YEAR AGO.Q1 REVENUE EUR 1.52 BILLION, +19% YOY.2022 MACRO-ECONOMIC OUTLOOK HELD BACK BY GEOPOLITICAL TENSIONS, INFLATION AND DROP IN DEMAND DUE TO LOCKDOWN IN CHINA.REVISES UPWARDS 2022 REVENUE BETWEEN ABOUT EUR 5.9-6.0 BILLION.REVISES DOWNWARDS ADJUSTED EBIT MARGIN ABOUT 15%, DUE TO RUSSIA-UKRAINE CRISIS AND DROP IN DEMAND IN CHINA DUE TO LOCKDOWN.CONFIRMED INVESTMENTS OF ABOUT 390 MILLION EUROS.FOR STANDARD, VOLUMES EXPECTED TO FALL BY AROUND 1% (PREVIOUS INDICATION: +2%) WITH ORIGINAL EQUIPMENT MORE AFFECTED BY SEMICONDUCTOR CRISIS, RUSSIA-UKRAINE CRISIS, REPLACEMENTS CHANNEL HIT BOTH BY CRISIS IN RUSSIA AND SLOWDOWN IN DEMAND IN CHINA.Further company coverage: PIRC.MI. (Gdansk Newsroom). ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;)).

Pirelli Proposes Dividend Of 0.161 Euro Per Share

March 17 (Reuters) - Pirelli & C SpA <PIRC.MI>::DIVIDEND OF 0.161 EURO PER SHARE.INVESTMENTS HALTED IN RUSSIA, EXCLUDING THOSE LINKED TO SECURITY. THE ACTIVITIES OF FACTORIES WILL BE PROGRESSIVELY LIMITED TO FINANCE SALARIES AND SERVICES FOR EMPLOYEES.Further company coverage: PIRC.MI. (Gdansk newsroom). ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;)).

S&P, Fitch Ratings Affirm Pirelli Investment Grade At "BBB-" With Stable Outlook

Feb 24 (Reuters) - Pirelli & C SpA <PIRC.MI>::SAID ON WEDNESDAY S&P GLOBAL RATINGS AND FITCH RATINGS HAD ASSIGNED INVESTMENT GRADE OF "BBB-" WITH STABLE OUTLOOK TO COMPANY. Further company coverage: PIRC.MI. (Gdansk Newsroom). ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;)).

Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.

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