Revenues growing in the first quarter of 2012 for Pirelli, whose board of directors announced the results of operations as at 31 March. Indeed, from what was communicated by the tire company, it appears that consolidated revenues in the period considered amounted to 1.556,5 million euros, an increase of 11,1% compared to the 1.400,9 million euros of the first quarter of 2011.
The consolidated operating result after restructuring charges is instead equal to 209,4 million euros, with a growth of 46,1% compared to 143,3 million euros in the first quarter of 2011 and an incidence on revenues up by more than three percentage points to 13,5% compared to 10,2% in the corresponding period of 2011. The net result is equal to 125,3 million euros, an increase of 54% compared to the 81,4 million euros of the first quarter of 2011.
The consolidated net financial position is negative for 1.305,0 million euros compared to 737,1 million euros at the end of 2011 (negative by 712,8 million euros at 31 March 2011), with a change that reflects the normal seasonal effect of the change in the working capital of the business in the period, as well as the outlay, amounting to 154,5 million, for the purchase of the Russian plants in Kirov and Voronezh.
Pirelli also spoke of future strategies, once again focusing on the continuous strengthening of the manufacturing presence in rapidly developing economies and on the focus of activity on the Premium segment, which in addition to being the most profitable segment is confirmed as the one with the greatest growth in the tire sector. Elements that have already contributed in the last period, despite the difficult macroeconomic scenario, to an improvement in the main economic indicators of the group.
