Pirelli : An encouraging Q1 2020 in terms of cost-cutting
>A better than expected Q1 EBIT and 2020 guidance confirmed - Yesterday evening, Pirelli published Q1 2020 that beat forecasts (sales in line but EBIT +10%) although already reflecting the significant initial effects of the crisis with a 17% fall in volumes, partly offset by cost cutting. Above all, the group has reiterated the 2020 targets announced at the beginning of April although currently aiming the low end of the guidance range. Overall, this should be enough t...Pirelli & Co. is a holding company that manages, coordinates and finances the operations of its subsidiaries, which are mainly active in the tyre sector. Other activities relate to the emissions control technologies, renewable energy sources and fashion industries. Co.'s Total Tyre Business is split into: the Consumer Business segment that includes car and motorcycle tyres made for both the original equipment and replacement markets; and the Industrial Business segment that includes truck tyres, tyres for agricultural equipment, made both for the original equipment and replacement markets, and the steel cord business.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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