MILAN (ITALPRESS) – The Board of Directors of Pirelli & C. Spa, which met today, approved the results at 31 March 2026. Revenues amounted to 1.737.2 million euros with organic growth of +3.5% excluding the change effect (-4.5%) and the deconsolidation of Däckia (-0.2%). Including these effects, the total change is -1.2% compared to 1.758.6 million euros. The High Value represents 82% of total turnover (81% in the first quarter of 2025).
The performance of volumes (+1.5%) reflects the positive performance in the High Value segment, both in the First Equipment and in the Spare Parts, and the progressive reduction of exposure on the Standard.
The price/mix has recorded an increment of +2.0% due mainly to the improvement of the product mix. The favorable regional mix has counterbalanced the weakness of the channel mix due to the more sustained growth of the First Car Equipment compared to the Ricambi channel.
The exchange effect and hyperinflation had a negative impact of -4.5%, due to the volatility of currencies in emerging countries and the weakness of the dollar.
The adjusted Ebitda in the first trimester 2026 was pairs to 404,4 million euros, in increase of +1.4% regarding the 399 million euros of the first trimester 2025.
The adjusted Ebit in the first quarter of 2026 was pairs to 277,4 million euros (279,8 million euros in the first quarter of 2025), with an adjusted Ebit margin in increase to 16% (15,9% in the first quarter of 2025).
The tax burden of the first quarter of 2026 amounted to 68.8 million euros, with a tax rate of 30.5%.
In the first quarter of 2025, tax charges amounted to 59 million euros (with a tax rate of 31.7%).
Net profit in the first quarter of 2026 amounted to 156,8 million euros, up 24.3% compared to 127.2 million euros in the first quarter of 2025, thanks also to lower financial charges.
The net cash flow of dividends of the first trimester 2026 is pairs to -914,7 million euros, -704,5 million euros excluding the impact for -210,2 million euros relative to the consolidation, from 1 January 2026, of the Chinese joint venture Xushen Tyre (Shanghai) Co., Ltd. (-696,7 million euros of the first trimester 2025).
– photo IPA Agency –
(ITALPRESS).
