Pirelli reports 1H 2016 results, approval of Aeolus transfer

Italy’s Pirelli & C. SpA has announced net sales of €3.0 billion during the six months to 30 June 2016. This is 6.6 per cent lower than the net sales achieved by the Pirelli Group in the first half of last year, yet the company says the result represents a year-on-year organic growth of 5.9 per cent (with the same perimeter and net of an 8.8 per cent negative foreign exchange effect). Sales within Pirelli’s Consumer business (car, light commercial and motorcycle tyres) amounted to €2.5 billion, including €1.6 billion of premium products, while Industrial business sales totaled €497.3 million.

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