Pirelli closes 2013 in line with the company's forecasts, while for 2014 it cuts its revenue target and confirms its Ebit target, and expects to offset the devaluation in Latin America with a price increase.
The board of directors will propose to the meeting a stable coupon of 32 cents for ordinary shares and 39 cents for savings shares. Revenues for the year amounted to 6,146 billion (+1,2%, +8,4% net of the exchange rate effect), supported by the emerging markets, despite the weakness of the exchange rates, which offset the decline in the USA and Europe.
Thanks to the drop in the ruble, said Marco Tronchetti Provera "the group can export from Russia to Europe at very low costs: the devaluation has made Russia more competitive than Romania". On the entry of the Russian Rosneft into the capital of Pirelli, Tronchetti confirmed that it is "a long-term partnership"
