Pirelli Boosts Operating Results
Pirelli has boosted its 2004 operating result to 380 million euros, a 42 per cent increase compared with the 268 million achieved in 2003. Last year’s figures show consolidated revenue of 7,130 million euros up 6.9 per cent on 2003’s results. The manufacturer’s net financial position settled at -1,475 million compared with -1,745 in 2003.
According to the Italian company its industrial activity was enhanced by the tyre, cable and energy sectors. In 2004, sales totalled 6,560 million euros, an increase of 8.8 per cent. Profit increased by five per cent, and EBIT were 380 million euros, compared to 264 million in 2003. Return on sales was up to 5.8 pct (4.4 pct).
Tyres accounted for 3,250 million, or 50 per cent of the company’s industrial sector’s total sales and experienced an 11.5 per cent increase on 2003. Eight per cent of this growth was due to increased volumes and the remaining to prices/mix, explained the company, who said the figures confirm its continual focus on the high performance sector. And operating income from tyres was recorded at 275 million euros.