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Pirelli & C SpA (PIRC.MI)

PIRC.MI on Milan Stock Exchange

4.51EUR
4 Dec 2020
Change (% chg)

€0.09 (+2.04%)
Prev Close
€4.42
Open
€4.42
Day's High
€4.55
Day's Low
€4.42
Volume
3,144,898
Avg. Vol
4,138,865
52-wk High
€5.41
52-wk Low
€3.04

Latest Key Developments (Source: Significant Developments)

Pirelli Q3 Adjusted EBIT At EUR 213.7 Mln
Wednesday, 11 Nov 2020 

Nov 11 (Reuters) - Pirelli & C SpA ::Q3 ADJUSTED. EBIT EUR 213.7 MILLION VERSUS EUR 206 MILLION IN COMPANY-PROVIDED CONSENSUS.Q3 REVENUE EUR 1.28 BILLION VERSUS EUR 1.23 BILLION IN COMPANY-PROVIDED CONSENSUS.GUIDANCE 2020, REVENUES EXPECTED AT AROUND 4.18/4.23 BILLION EURO (PREVIOUS INDICATION ABOUT 4.15/4.25 BILLION).Q3 NET PROFIT EUR 83.9 MILLION VERSUS EUR 68 MILLION IN COMPANY-PROVIDED CONSENSUS.GUIDANCE 2020, ADJUSTED EBIT MARGIN EXPECTED AT BETWEEN AROUND 11.5% AND 12% (PREVIOUS INDICATION EXPECTED AT BETWEEN ABOUT 12% AND13%).GUIDANCE 2020, CASH GENERATION CONFIRMED AT APPROXIMATELY 190-220 MILLION EURO.GUIDANCE 2020, NET FINANCIAL POSITION AT AROUND -3.3 BILLION EURO CONFIRMED.GUIDANCE 2020, EFFICIENCIES AND COST REDUCTION PLANS CONFIRMED.GUIDANCE 2020, VOLUMES EXPECTED AT ABOUT -17%/-18% (PREVIOUS INDICATION ABOUT -18%/-20%).2020 MARKET OUTLOOK IMPROVES THANKS TO ORIGINAL EQUIPMENT IN APAC AND NORTH AMERICA.2020 OUTLOOK CAUTIOUS FOR EUROPE BECAUSE OF RECENT ANTI-COVID MEASURES FOLLOWING THE RESURGENCE OF THE PANDEMIC."COSTS' COMPETITIVENESS PLAN" AND THE ACTIONS TO COUNTER THE COVID-19 CONTEXT ARE IN LINE WITH THE FORECASTS ANNOUNCED ON MAY 13, 2020.2020 MARKET OUTLOOK IMPROVES THANKS TO ORIGINAL EQUIPMENT IN APAC AND NORTH AMERICA, BUT OUTLOOK CAUTIOUS FOR EUROPE.NET FINANCIAL POSITION AT END-SEPT: -4,252.5 MILLION EURO.  Full Article

Pirelli H1 Adjusted. EBIT At EUR 66.7 Mln
Wednesday, 5 Aug 2020 

Aug 5 (Reuters) - Pirelli & C SpA ::H1 ADJUSTED. EBIT EUR 66.7 MILLION VERSUS EUR 68 MILLION IN COMPANY-PROVIDED CONSENSUS.H1 NET LOSS EUR 101.7 MILLION VERSUS LOSS EUR 110 MILLION IN COMPANY-PROVIDED CONSENSUS.H1 REVENUE EUR 1.82 BILLION VERSUS EUR 1.80 BILLION IN COMPANY-PROVIDED CONSENSUS.SEES 2020 REVENUES ABOUT 4.15-4.25 BILLION EURO (PREVIOUS INDICATION AROUND 4.3-4.4 BILLION EURO).SEES 2020 ADJUSTED EBIT MARGIN AT AROUND 12%-13% (PREVIOUS INDICATION AROUND 14%-15%).2020 INVESTMENTS CONFIRMED AT AROUND 130 MILLION EURO.2020 CASH GENERATION EXPECTED ABOUT 190-220 MILLION EURO (PREVIOUS INDICATION AROUND 230-260 MILLION EURO).NET DEBT AT END-JUNE AT EUR 4.26 BILLION.NET FINANCIAL POSITION AT END-2020 CONFIRMED AT ABOUT -3.3 BILLION EURO.MAIN 2020 OPERATIONAL DRIVERS CONFIRMED: VOLUMES, PRICE/MIX, EFFICIENCIES AND COST CUTTING.WILL UPDATE TARGETS OF 2020-2022 INDUSTRIAL PLAN IN FIRST QUARTER OF 2021, NOT IN FOURTH QUARTER OF 2020.IN H1 GROSS BENEFITS OF COST CUTTING PLANS WERE 45% OF EXPECTED EFFICIENCIES FOR 2020, FOR EUR 126 MILLION OVERALL.GROSS BENEFITS FROM COST CUTTING PLANS FOR 2020 ARE CONFIRMED AT ABOUT 280 MILLION EURO.  Full Article

Italy's Brembo has no desire to have a role in Pirelli governance after stake increase
Wednesday, 29 Jul 2020 

July 29 (Reuters) - Italy's Brembo Executive Deputy Chairman Matteo Tiraboschi says: :BREMBO HAS NO PLANS TO FURTHER INCREASE STAKE IN PIRELLI AT THE MOMENT.BREMBO HAS NO DESIRE TO HAVE A ROLE IN PIRELLI GOVERNANCE.  Full Article

Italian premium brakes maker Brembo raises stake in Pirelli to 4.99%
Wednesday, 29 Jul 2020 

July 29 (Reuters) - Italy's Brembo says in a statement:IT HAS RAISED ITS STAKE IN PIRELLI TO 4.99%, HAS COMPLETED PURCHASE PROCESS.  Full Article

Pirelli says new General Manager, Co-CEO Papadimitriou effective from Aug. 1
Thursday, 23 Jul 2020 

July 23 (Reuters) - Italian tyre-maker Pirelli says::NEWLY-APPOINTED GENERAL MANAGER CO-CEO ANGELOS PAPADIMITRIOU WILL BE EFFECTIVE FROM AUGUST 1, 2020.  Full Article

Pirelli CEO Proposes Board To Appoint Angelos Papadimitriou General Management Co-CEO
Wednesday, 15 Jul 2020 

July 15 (Reuters) - Pirelli & C SpA ::CEO MARCO TRONCHETTI PROVERA PROPOSES TO BOARD TO APPOINT ANGELOS PAPADIMITRIOU GENERAL MANAGEMENT CO-CEO.  Full Article

Pirelli CEO says merger with Brembo not on the agenda, always ready to study options
Wednesday, 13 May 2020 

May 13 (Reuters) - Pirelli Chief Executive Marco Tronchetti Provera tells analysts in a post-earnings call::A MERGER WITH BREMBO IS NOT ON THE AGENDA, BUT I AM ALWAYS READY TO ANALYSE OPTIONS AS I HAVE ALWAYS DONE IN MY CAREER.CO MORE CONFIDENT WITH LOW END OF FULL-YEAR GUIDANCE FOR 2020.  Full Article

China's Longmarch to have potential stake in Pirelli of up to 7.68%
Wednesday, 13 May 2020 

May 13 (Reuters) - Pirelli Chief Executive Marco Tronchetti Provera says::CO EXPECTS GLOBAL CAR TYRE DEMAND TO FALL 20% YEAR-ON-YEAR IN 2020.OUTLOOK VERY CHALLENGING FOR Q2, WHEN TYRE MARKET DEMAND IS EXPECTED DOWN AROUND 40%.Q2 WILL BE WORST QUARTER OF 2020, NEXT THREE MONTHS CRUCIAL TO ASSESS MARKET EVOLUTION.MORE OPTIMISTIC FOR SECOND HALF OF YEAR, "WITH CHINA LEADING THE WAY".SHAREHOLDER CAMFIN TO SOON FINALISE PARTNERSHIP WITH CHINA'S LONGMARCH.LONGMARCH TO HAVE POTENTIAL STAKE IN PIRELLI OF UP TO 7.68% THROUGH REPURCHASE AGREEMENT, MORE THAN THE 5.19% INITIALLY ANNOUNCED.AGREEMENT BEING DISCUSSED WITH LONGMARCH GIVES CAMFIN THE RIGHT TO GIVE VOTE INDICATIONS TO LONGMARCH IN PIRELLI SHARHOLDERS' MEETINGS.  Full Article

Pirelli Starts Resuming Activities As Of May 4
Thursday, 30 Apr 2020 

April 30 (Reuters) - Pirelli & C SpA ::RESUMES ACTIVITIES AS OF MAY 4.RESTART OF ACTIVITIES WILL BE GRADUAL.AT SETTIMO TORINESE PLANT PRODUCTION LEVELS WILL BE REDUCED IN LIGHT OF LOWER DEMAND.MASKS FOR EMPLOYEES AND FAMILY MEMBERS TO BE PRODUCED BY CO AT BOLLATE PLANT.  Full Article

Pirelli Halts Productions At Italian Factories Following Decree On Covid-19 Containment
Monday, 23 Mar 2020 

March 23 (Reuters) - Pirelli & C SpA ::SAID ON SUNDAY CO SUSPENDED PRODUCTION AT ITS ITALIAN FACTORIES IN SETTIMO TORINESE AND BOLLATE FOLLOWING LATEST DECREE ON COVID-19 CONTAINMENT.  Full Article

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Pirelli loses appeal against EU cartel ruling on former unit

BRUSSELS Italian tyremaker Pirelli on Wednesday lost an appeal against a European Union cartel ruling after Europe's highest court rejected its argument that it should not bear liability for its former subsidiary and cartel member Prysmian .