Pirelli : Better-than-expected start to the year
>Q1 2023 EBIT 5% above expectations, full-year guidance confirmed - Pirelli’s Q1 2023 results came in better than expected (EBIT +5%), again bolstered by a very strong price/mix dynamic (+15%) more than offsetting the drop in volumes (-3%) and other headwinds (mainly inflation and forex). On top of that, the 2023 outlook has been fully confirmed as expected, with an upbeat and reassuring message from management (pricing discipline, EV opportunity, etc.). But as consen...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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