It was a 2021 to frame what it just ended for Pirelli. The multinational leader in the production of tires globally exceeded analysts’ estimates: the results were above the targets, with revenues up 23.9% to 5.3 billion, adjusted EBIT to 816 million (up + 62.8%) and a cash flow before dividends of 431 million with a net profit of 321.6 million, tripled compared to the previous year. Extremely positive data which, according to Pirelli’s forecasts, could also be repeated in this 2022.
In fact, 2022 revenues are estimated between 5.6 and 5.7 billion euros, with an expected net cash generation before dividends between 450 and 480 million euros, compared to planned investments amounting to 390 million, equal to approximately 7% of revenues. New growth therefore seems to be upon us for Pirelli, despite the volatile context due to inflationary and geopolitical tensions. One of the priorities on which the Italian company will continue to focus in this 2022 will be that of sustainabilitysuccessfully carried out already in 2021 which has just ended: among the goals achieved stands out the research on innovative renewable and recycled materials which led to equip the Volvo Recharging Concept with a tire containing 94% of non-fossil materials, including silica from rice husk, carbon black from recycling and bio resins.
“Pirelli has increasingly strengthened in the high value-added segment, increasing exposure to the electric and consolidating leadership in China. Innovation is one of the strengths of the company, with 310 technical homologations while in terms of competitiveness, the efficiency program continues, which has made it possible to achieve gross benefits of 155 million euros – explains Il Corriere della Sera this morning on newsstands – The decarbonization plan continued of the group’s value chain, and the use of renewable electricity has grown. Finally, the Board approved a plan for the issue of new bonds up to € 2 billion “.
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