Pirelli reports 16.6% increase in revenues

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Pirelli reports 16.6% increase in revenues
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7 @+ H" x# a5 `# W8 m) mTuesday, March 13, 2012

Milan - Pirelli reported consolidated revenues on December 31, 2011 totaled 5,654.8 million euro, an increase of 16.6% (4,848.4 million euro in 2010). The consolidated operating income after restructuring charges was 581.9 million euro compared with 407.8 million euro in 2010, and with a 10.3% margin compared with the target of “around 10%” announced last November and almost two percentage points higher than the 8.4% of 2010. The net result from continuing operations was 312.6 million euro, an increase of 37.1% compared with 228 million euro in 2010, while the total net result was 440.7 million euro, taking into account a positive non-recurring impact of 128.1 million euro linked to benefits from loss carryovers, following a change in the fiscal law regarding past losses which allows for their carryover without time limit.