Pirelli confirms the targets. Postponed the renewal of the board of directors
Pirellia tire maker that is part of the FTSE MIB, closed the first quarter of 2023 with revenues equal to 1,699.7 million euros, up by 11.7% compared to the first quarter of 2022 (+12% the organic change excluding the exchange rate effect equal to -0.3%). The Price/Mix sees a +15.1% thanks to price increases and mix improvement.
L’EBIT adjusted is equal to 248.1 million euros, up by 8.6%, with the improvement of the price/mix and the efficiencies which more than offset the impact of the external scenario (raw materials, inflation and exchange rates). L’Net income rises to 115 million euros (109.8 million euros in the first quarter of 2022). Targets confirmed for the 2023 financial year.
By the end of the year, the revision of the industrial plan
The board of directors resolved to convene the shareholders’ meeting. At the meeting on June 29, the postponement of the renewal of the board to a subsequent shareholders’ meeting to be convened presumably by 31 July 2023, in consideration of the timescales envisaged for the conclusion of the Golden Power Process.
In the light of the proposal to postpone the appointment of the new board of directors, theupdate of the business plan to 2025 will take place by the end of 2023.
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