Revenues stable in the half-year, adjusted Ebit margin rises to 15,6%, net profit equal to 231,3 million euros. Net cash flow before dividends improved. In the second quarter, adjusted EBIT margin at 15,8% and net profit up 2,6% to 130,9 million euros. This is what emerges from Pirelli's six-monthly report approved by the board of directors.
SYNTHESIS
First semester 2024
- Revenues: 3.447,5 million euros, stable compared to 3.437,5 million euros in the first half of 2023
(+4,6% organic change excluding the exchange rate effect of -4,3%) - Further strengthening of High Value (77% of sales, 74% in the first half of 2023)
- Price/Mix: +2,8% mainly thanks to the improvement of the product mix
- Adjusted Ebit: 539,1 million euros, up by +4,2% compared to the first half of 2023 thanks
to solid commercial performance (volumes and price/mix) and efficiencies - Adjusted EBIT margin rises to 15,6% (15,1% in the first half of 2023)
- Net profit at 231,3 million euros (242,6 million euros in the first half of 2023) which is affected
impacts resulting from hyperinflation - Net cash flow before dividends: -519,2 million euros, an improvement compared to -534,9
million euros in the first half of 2023 - Net Financial Position: -2.978,0 million euros (-2.261,7 million at 31 December 2023, –
3.087,5 as of June 30, 2023)
Second quarter 2024
- Revenues: 1.752,0 million euros, +0,8% compared to 1.737,8 million euros in the second quarter
2023 (+4,5% organic change excluding the exchange rate effect of -3,7%) - Price/Mix: +3,3% thanks to the improvement in product mix and Region
- Adjusted Ebit: 276,5 million euros, up by +2,7% compared to the second quarter of 2023
thanks to the performance of volumes, price/mix and efficiencies - Adjusted EBIT margin rises to 15,8% (15,5% in the second quarter of 2023)
- Net profit: +2,6% to +130,9 million euros (+127,6 million euros in the second quarter of 2023)
- Net cash flow before dividends: +154,2 million euros (+156,5 million euros in the second
quarter 2023)
Download the full press release with details and confirmation of the target for 2024
