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Pirelli posts 2008 financial results

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Pirelli & Cie SpA posted consolidated sales of 4.6 billion euros in 2008, down from 4.7 billion euros in 2007. Including restructuring charges, Pirelli's income was 43.2 million euros.

Revenue for the company's Pirelli Tyre unit totaled 4.1 billion euros, down 1.5% versus 2007.

Pirelli's 2008 results were impacted by "a market scenario that was unfavorable in volume terms in Europe and North America, combined with a strong increase in (manufacturing) costs."

 

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