Pirelli : Better end to the year than expected, 2023 outlook in line
>Q4 much better than expected, 2023 targets in line as expected - Pirelli’s Q4 2022 earnings beat expectations (+8% for sales, +6% for EBIT and full-year FCF 7% ahead of expectations), marked again by robust price/mix momentum offsetting more fragile momentum in volumes. Besides this, the 2023 guidance was also in line with expectations and is unlikely to lead to any significant revisions, with a confident and reassuring message from the management, notably on trading...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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