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Город: Москва
Ваш регион
8 (800) 300-65-10

Pirelli 1H Profit Rose; Lifts 2022 Guidance

Pirelli & C. SpA said Thursday that profit rose in the first half and raised its full-year guidance.


The Italian tire maker reported net profit of 221.4 million euros ($225.1 million) in the period from EUR123.1 million in the same period a year earlier.


Adjusted earnings before interest and taxes increased to EUR481.6 million from EUR377.4 million, with an adjusted EBIT margin of 15.1% compared with 14.7%.


Sales for the period rose to EUR3.20 billion from EUR2.56 billion.


Pirelli said it revised up its targets for 2022 and now expects revenue between around EUR6.2 billion and EUR6.3 billion from a previous target of between EUR5.9 billion and EUR6 billion.


Price/mix is expected to improve to around 13.5%-14.5%, compared with previous indications of around 10%-11% thanks to additional price increases, according to the company. Net cash generation before dividends is now seen between around EUR450 million and EUR470 million from previous estimates of around EUR450 million.


The adjusted EBIT margin target is confirmed at around 15% for the full year.