Pirelli & C SpA (STU:2PI)

Q2 2025 Pirelli & C SpA Earnings Call Transcript

Jul 31, 2025 / 04:30 PM GMT

Release Date Price: €5.74 (-0.24%)

Transcript

Key Points

Positve

Pirelli & C SpA (PLLIF) reported a revenue increase of 4.4% excluding Forex, reaching approximately €3.5 billion.
Profitability improved to 16%, supported by effective internal measures and a successful tariff mitigation plan.
Net profit significantly increased to 14%, aided by lower financial expenses.
The company achieved a year-on-year debt reduction of €300 million, demonstrating solid cash generation.
Pirelli made significant progress in sustainability, reducing its accident rate by 3% and achieving a 16.5% reduction in absolute emissions year-on-year.

Negative

The impact of exchange rates was negative 2.9%, affected by the sharp depreciation of the US dollar and volatility in emerging market currencies.
The US tariffs on imports from Europe and Brazil imposed significant costs, with a net negative impact of €6 million in the first half.
Pirelli's net financial position remains negative at approximately €2.68 billion.
Operating net cash flow was negative €217 million, although this was in line with business seasonality.
The company faces ongoing challenges with tariffs and currency devaluation, impacting cash flow and profitability.

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

PIRC.MI - Pirelli & C SpA
Q2 2025 Pirelli & C SpA Earnings Call
Jul 31, 2025 / 04:30PM GMT

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Presentation
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Pushed the dollar to its lowest level against the EUR for years.

This trend continue to be uncertain, and the relation between the dollar and the different currencies remain volatile. We see now that there has been a revaluation of the dollar lately.

The agreement on tariffs between the EU and the US, which is going to be ratified in the coming days, on the one hand reduces uncertainty and prevents a trade escalation, while on the other hand, imposes significant costs on exports and is expected to fuel inflationary pressures.

In this context, the ability to react is crucial.

As Mr. Cassucci will illustrate, we are taking concrete measures to manage risks and seize opportunities.

We are

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