Pirelli & C. SpA posted net income of 303.6 million euros on net sales of more than 6.1 billion euros for its fiscal year ended Dec. 31, 2013. That compares to income of 387.1 million euros on sales of nearly 6.1 billion euros for fiscal 2012.
Based on the average exchange rate for 2013, Pirelli recorded net income of $403 million on net sales of more than $8.1 billion last year. Its income-to-sales ratio was 4.9%.
Operating income was flat, decreasing only slightly from 792.5 million euros in 2012 to 791 million euros last year.
Tire sales accounted for 99.5% of the company’s net sales.
Consumer tire sales, which include motorcycle tires, made up 73.2% of total tire sales, or nearly 4.5 billion euros (more than $5.9 billion). They were up 1.3% in euros compared to 2012. Pirelli says “premium tire sales” were up 15.3%.
Pirelli predicts consolidated sales in fiscal 2014 will be close to 6.2 billion euros.