Pirelli : Becoming again an attractive play in the sector
>Q3 earnings higher than expected (+3% on EBIT), again driven by vols & mix - Pirelli yesterday reported Q3 2024 results that were slightly better than expected (+2.5% on adjusted EBIT), driven by growth in volumes and a still robust price mix, which more than offset FX headwinds. All told, the first nine months of the year again seem to confirm the tyre maker’s good positioning and ability to harness the still favourable momentum in the High Value segment. Otherwise,...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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