Pirelli closed the first half with a net profit up 39,6% to 221,7 million euros and revenues to 3.021,8 million (+8,3%). The EBIT margin rose to 13,3% from 10,4% as at 30 June 2011. The group confirmed the 2012 EBIT target of 'at least 800 million' and an EBIT margin above 12%.
Revenues are expected at the end of the year to be approximately 6,4 billion euro, compared to the previous target of 6,45 billion, due to the reduction in overall volumes to -3/-4%, linked to the more rapid exit from standard products and lower profitability. Confirmed the growth of premium volumes at approximately +20%. The board of directors co-opted Carlo Salvatori.
