Pirelli lowered net profit

In the first half of 2024, Pirelli sales volumes remained almost unchanged compared to the same period last year, amounting to 3.447 billion euros (3.437 billion euros the previous year). At the same time, net profit decreased from 242.6 to 231.3 billion euros.

According to Pirelli's statement, the company continued to increase the share of high-margin passenger tires with a diameter of 18 inches or more in its revenue structure, which grew from 74% in the first half of 2023 to 77%, while profit decreased due to the impact of hyperinflation.

In January-June, the company continued to expand its presence in the original equipment sector, and Pirelli tires received 150 new homologations, about 90% of which are for tires with a diameter of 19 inches or more, and about 60% are for electric vehicle tires. During the reporting period, it was announced that Pirelli P Zero Winter 2 winter tires had been prepared for the BMW 7-Series, and an agreement had been concluded to supply eco-tires for Jaguar Land Rover.

Pirelli confirmed its forecast for 2024, according to which the company plans to receive revenue of 6.6-6.8 billion euros. The investment volumes were also confirmed, which amount to 400 million euros or about 6% of the turnover.