Q1 puts Pirelli on track for 2011 sales of “above 5.85 billion euros”
Results for the first three months of the current financial year show Pirelli & C. SpA revenues increasing 23.4 per cent year-on-year to 1,401 million euros and a 43.3 per cent growth in the company’s gross operating result (EBITDA) to 203.4 million euros. The operating result (EBIT) before restructuring charges was 146.5 million euros, compared with 90.2 million euros in the first quarter of 2010, while EBIT after restructuring charges was 143.3 million euros, a year-on-year increase of 63.6 per cent. EBIT margin increased from 7.7 per cent in the first quarter of 2010 to 10.2 per cent.