ITALY: Pirelli’s net sales down 3.3% to US$3.99bn in H1/2014
Pirelli's net sales for the six months ended 30 June 2014 were down 3.3% to EUR2.98bn (US$3.99bn) compared with EUR3.09bn in the same period a year ago.
Operating income was up 12.6% to EUR426.2m compared with EUR378.5m. Pre-tax income increased 22.4% to 306.9m from 250.7m. Net income was up 28.5% to EUR192.1m compared with EUR149.5m in the year ago period.
Outlook for 2014
- Consolidated revenues of approx. EUR6.2bn, growth of almost 1%
- EBIT of EUR850m after restructuring costs for EUR50m