Pirelli & C SpA (STU:2PI)

Preliminary Q4 2024 Pirelli & C SpA Earnings Call Transcript

Feb 26, 2025 / 05:30 PM GMT

Release Date Price: €5.71 (+1.03%)

Transcript

Key Points

Positve

Pirelli & C SpA (PLLIF) reported revenues of approximately €6.8 billion, up by 1.9%, with high value accounting for 76% of revenues.
Adjusted EBIT increased by 5.9% year-on-year to around €1.06 billion, with a profitability margin of 15.7%, surpassing the target of 15.5%.
The company achieved significant progress in sustainability, reducing CO2 emissions by 57% compared to 2018 and increasing the use of bio-based and recycled materials to 58.5% in their best-selling product.
Pirelli & C SpA (PLLIF) successfully decreased the accident frequency index by 16.6% and increased the number of women in managerial positions to 28.3% globally.
The company maintained a strong cash generation before dividends of €534 million, exceeding expectations due to solid operating performance and lower financial expenses.

Negative

The net financial position was negative at approximately €1.9 billion, although it improved by €336 million compared to the end of 2023.
Exposure to the standard segment is decreasing, with car volumes 17 inches and below down 4% versus a flat market.
The potential application of tariffs in the US poses a risk, with contingency plans in place but uncertainty regarding the amount and timing.
The company faces challenges in the macroeconomic and geopolitical environment, with potential impacts from trade tensions and tariffs.
Forex impact was negative 2.5%, reflecting the volatility of emerging countries' currencies, affecting overall financial performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PIRC.MI - Pirelli & C SpA
Preliminary Q4 2024 Pirelli & C SpA Earnings Call
Feb 26, 2025 / 05:30PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, welcome to Pirelli's conference call in which Pirelli top management will present companies's full year 2024 preliminary results.

A live webcast of the event and the presentation slides are available in the investor relations section of the Bradley website.

I remind you that the Q&A session will follow after the presentation. Now I would like to introduce Mr. Marco Tronchetti Provera. Please go ahead, sir.

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Unidentified_2 [2]
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Thank you and good evening, ladies and gentlemen.

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