Pirelli & C. shares, PIRC share prices on the Stock Exchange

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ISIN code: IT0005278236
Sector: Durable consumer goods
Industry: Automotive aftermarket

Le actions di Pirelli & C. are listed on the Italian market with the ticker PIRC.

Look at the history of the quotation of the share on the Milan Stock Exchange

Company Description

Pirelli & CSpA is an Italian company that produces tires for cars, motorcycles and bicycles, mattresses and cushions.

The company is among the world's leading players in the tire industry in terms of turnover behind only Bridgestone, Michelin, Goodyear and Continental.

Pirelli is present in more than 160 countries with approximately 15.900 points of sale. It has 19 manufacturing plants in 12 countries. It has approximately 30,570 employees.

Pirelli was listed on the Milan Stock Exchange from 1922 to 2015 (and until 2016 with savings shares only), to then be delisted. Since 4 October 2017 it has returned to being listed on the Stock Exchange and is present in the indices FTSE MIB and FTSE Italia Brands.

In March 2015 the ChemChina acquires the majority stake in Pirelli for 7,1 billion euros, taking control of Marco Polo International Holding Italy SpA, the company that brings together other sole shareholders of Pirelli & CSpA Since 2017, with the company's return to the Stock Exchange, ChemChina is the main shareholder of Pirelli with 45,52%.

The current president is Ning Gaoning, also president of ChemChina. The executive vice president and CEO is Marco Tronchetti Provera, representing Camfin, which is the second largest shareholder, where he serves as chairman and chief executive officer.

The control of Pirelli by the ChemChina group is through the control of Marco Polo Int. Italy Srl.

THEshareholding of Pirelli, in January 2021, is composed as follows:

• Marco Polo Int. Italy Srl 37,01%
• Camfin Spa 10,10%
• PFQY (Silk Road Fund) 9,02%
• Tacticum Investment SA 6,24%
• Brembo SpA 4,99%
• Institutional Investors 29,00%

The turnover, in 2020, was 4.300 million euros with a net profit of 42.7 million.

The tagline is «Power is nothing without control».

Economic and financial analysis of the company

Pirelli & C. was founded in Milan in 1872 by the engineer John Baptist Pirelli to produce technical items in vulcanized rubber. The first factory is created, where the Pirelli skyscraper nicknamed "Pirellone".

Thanks to the ductility of the material, the production range was expanded with other applications, such as submarine telegraph cables, toys, carpets, raincoats, material for surgical rooms and anatomical padding to be applied to bras and culottes.

In 1897, the standard bicycle tire was patented “Flexus”. Two years later, the first tires for motor vehicles were sold.

The company enjoyed great sales success. In 1906 Pirelli opened a new factory in the Bicocca area.

In the early twentieth century it also began to expand abroad, first in Spain (1902), in the United Kingdom (1914) and in Argentina (1919).

With the advent of the first car races, Pirelli began to supply tires to Formula 1, rallies and Gran Turismo. Today, the company is still the official supplier of F1. From 1995 to 2021 it was the official sponsor of theInter.

in 1922 Pirelli & C. becomes one of the first companies to be listed on the Milan Stock Exchange. In 1926 the company was also listed Pirelli SpA. In 1929 Pirelli was listed on the New York Stock Exchange becoming the first Italian company to land on the American list.

In August 2003 Pirelli SpA was merged with Pirelli & CSpA. remaining the only listed company.

In 1983 the Pirelli Tire Coordination SpA, later renamed Pirelli Tire SpA in 2006. All the production and commercial activities of tires and similar have merged into this company.

In 1992, Marco Tronchetti Provera succeeded his father-in-law Leopold Pirelli leading the group.

In the nineties he began to diversify his fields of action. born milan Central, a real estate company since the merger of Vitruvius, real estate company of the Pirelli group, and the management of IACI (Italian Commercial Agricultural Initiatives). In 2001 the company took the name of Pirelli & C. Real Estate.

In 2000 the division was sold Pirelli Optical Technologies to the Corning, American glass company, and division Pirelli Optical Systems to the Cisco Systems.

In 2002 he also began to sell Pirelli-branded clothing, eyewear and watches.

In 2005 the company was sold Pirelli Cables at the bank Goldman Sachs. Inaugurates the first production plant in China.

Following the desire to focus its industrial activities only in the tire sector, the company sells the activities of Pirelli Broadband Solutions and split from the group Pirelli Real Estate renaming it Prelios SpA.

In 2011 Pirelli increases its production presence in Russia through a partnership with rostec.

In 2012 a plant was inaugurated in Mexico and in 2015 in Indonesia.

In 2014, Pirelli sold its steelcord business to Bekaert, a leading group in steel cable transformation and coating technologies.

In 2015, the majority stake in Pirelli was sold by Camfin to the Chinese group ChemChina. Pirelli is delisted and the Marco Polo Industrial Holding S.p.A, a company controlled by ChemChina and owned by Camfin and by Long Term Investments Luxemburg, investment fund of Rosneft, becomes the sole shareholder of Pirelli.

In June 2016 Marco Polo Industrial Holding was merged by incorporation into Pirelli & C..

The sole shareholder, until 3 October 2017, was the Marco Polo International Italy SpA, a company into which Marco Polo International Holding Italy SpA was merged. The company was controlled with 65% of the capital by China National Chemical Corporation, with 22,4% by Camfin and with 12,6% by the Russians of Long Term Investments Luxembourg.

From 4 October 2017, Pirelli is once again listed on the Stock Exchange. Marco Polo International Italy SpA dissolves and the main shareholder directly becomes ChemChina with 45%.

In March 2020 the Brembo, leading Italian company in the development and production of braking systems for vehicles, acquires 2,43% of Pirelli. In the same days The Chinese billionaire Niu Hishun – founder of Hixih Rubber Industry, which has had a joint venture with the since 2005 Bicocca – acquired 5% of Pirelli through a derivative, subsequently transferred to the majority shareholder ChemChina.

Among main holdings and subsidiaries of Pirelli we find:

• Pirelli Administration and Treasury Services SpA,100%
• Maristel SpA,,100%
• Pirelli Ambiente Srl,100%
• Pirelli Information Systems Srl,100%
• Pirelli Tire SpA,100%
• Corporate Services Pirelli SCpA,92,3%
• Pirelli Group Reinsurance Company SA, Switzerland, 100%
• Pirelli Ldta, Brazil, 100%
• Pirelli UK Ltd, United Kingdom, 100%
• Consortium for Research on Advanced Materials (CORMAV), 100%
• Eurostations SpA, 32,7%
• Fenice Srl, 69,8%
• Prelios SpA, 12,8%