Pirelli collapses in Piazza Affari after the presentation of the 2013-2017 business plan was postponed to Novemberoriginally scheduled for May 8. By mid-morning, the company's stock was in the red by more than five and a half points, well behind the Ftse Mib. THE volumes they are already above the average of an entire session.
Pure confirming the targets for 2013, Pirelli explained that the decision to postpone it was taken "in order to provide better visibility on the reference scenario and to develop forecasts consistent with a medium-long term time horizon, taking into account that the macroeconomic and business context in which Pirelli operates is in significant and continuous evolution, even more marked in recent times”.
In its daily note, the ICBPI underlines how the strong change in market conditions is at the basis of the postponement of the presentation of the business plan. In particular, in Europe the consumer crisis is also impacting the Premium segment, while in the United States the demand for tires in the segments with the highest added value stands at triple growth rates compared to the global demand for car tyres. The news "is negative", comments Banca Akros, "as it confirms that the Premium tire market is also suffering in Europe", where Pirelli recorded around 35% of 2012 revenues and around 28% of EBIT.
