Nightmare session in Piazza Affari for the Pirelli stock, which at the start lost 4%, clearly following the Ftse Mib. The stock sell-off comes after the accounts spread. Yesterday evening, with the markets closed, the company announced that it had filed the first half with a net profit down by 31,3% year-on-year, to 150,1 million. As at 30 June, the net financial position was negative by 1,68 billion.
In the same period, however, the group achieved revenues up by 3,6%, to 3,13 billion, and confirms its objectives for 2013: turnover between 6,3 and 6,35 billion, consolidated ebit at around 810 million, net debt less than 1,2 billion.
The Pirelli stock, hit today by the sales, has outperformed the index of the big 40 in Milan in recent weeks: from the close of July 12 to yesterday it gained 16,5%, against a +8,5% for the Ftse Mib . From the lows of mid-April, the Ftse Mib has jumped by more than 41% (+7,2%). Since the beginning of the year, Pirelli has recorded +11,50%.
