Pirelli reports increased sales but flat profits in 2013

28th March 2014 | 1 Comment

Pirelli & C. SpA today reported full-year 2013 consolidated revenues of 6,146.2 million euros on 31 December, an increase of 1.2 per cent from 6,071.5 million euros a year earlier. Tyre revenues, which account for almost all of the company’s sales totalled 6,115.8 million euros in 2013, an increase of 1.4 per cent from 6,031.3 million euros. Full year tyre-derived pre-tax profits (EBIT) were 822.0 million euros, an increase of 1.2 million euros (+0.1 per cent) compared with 820.8 million euros in the same period a year earlier, with a margin equal to 13.4 per cent (13.6 per cent in 2012). However, whether it will be enough to allay pre-release market fears that emerging market exchange rates and particular Russian market instability remains to be seen.

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