Pirelli : Better-than-expected start to the year, 2022 guidance adjusted but in line
>Q1 better than expected (+5% on revenue, +6% on EBIT) - Yesterday evening Pirelli reported Q1 2022 results that were better than expected, confirming the tyre maker’s solid positioning in the current inflationary context (price-mix +20.4%, covering 1.2x raw materials/inflation costs, more than offsetting the slight fall in volumes of 1.4%). The 2022 targets announced, which were revised down slightly given the more challenging volumes/inflation backdrop (-3% for EBIT...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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