Pirelli's earnings grow during Q1
Consolidated sales revenues grew by 6.5% year on year
Pirelli & C. SpA has announced an increase in profits during the first quarter as revenues have risen. For the three months ending 31 March, the company said its consolidated sales revenues grew by 6.5% year on year (y/y) to EUR1,568.4 million (USD1,767.9 million), helped by a 4.1% benefit from foreign exchange rates. Earnings before interest and taxes (EBIT) have grown by 4.5% y/y to EUR210.1 million, resulting in its EBIT margin dipping slightly to 13.4%. However, net profits from continuing operations have grown 12.2% y/y to EUR101.4 million.
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