Pirelli Affirms 2026 Revenue and Margin Targets as Q2 Profit Rises 1%
Financial Performance and Strategic Outlook
Q2 2024 Operating Income and Revenue
MILAN, July 29 (Reuters) - Italian tyre maker Pirelli said on Wednesday its operating income edged higher in the second quarter, as sales of higher-margin products more than offset the negative impact of foreign exchange rates and lower sales volumes.
Adjusted EBIT and Margin
• Adjusted earnings before interest and tax (EBIT) rose 1% year-on-year in April-June to €280 million ($319 million), broadly in line with a company-provided analyst consensus.
• The adjusted EBIT margin was stable at 16% in the period.
Revenue Trends
• Second-quarter revenue came in at €1.76 billion, only slightly higher than the same period of last year.
2026 Forecasts and Strategic Initiatives
Revenue and Margin Targets
• The company stood by its 2026 forecasts set earlier this year, targeting revenue of between €6.75-€6.95 billion, and an adjusted EBIT margin of around 16%.
Market Environment and Product Focus
Impact of Global Events
• The Middle East crisis continues to weigh on global economic growth, inflation and the cost of raw materials, Pirelli said.
High Value Tyre Segment
• It said it expected to gain market share this year in the segment of high value tyres, while continuing to reduce its exposure to standard products.
Additional Information
($1 = 0.8787 euros)
(Reporting by Giulio Piovaccari; Editing by Valentina Za)
