Pirelli Posts First Half, 2Q Sales Gains

Aug. 25, 2022

Pirelli & Cie SpA posted a 24.6% year-over-year revenue gain and a 77.1% year-over-year net profit increase during the first half of 2022.

Pirelli's adjusted EBIT for the first half climbed 27.6% versus the same period in 2021.

Its price/mix increased 20.4%, which is a "record level," according to Pirelli officials, who credit "price increases and mix improvement" for the jump.

The first half of 2022 showed a "further strengthening of positioning" in the 18-inch and up passenger tire segment.

During the second quarter of 2022, Pirelli posted a 26.9% year-over-year increase in revenue, plus a 37.8% year-over-year net profit increase.

Pirelli expects to achieve revenue of between 6.2 billion and 6.3 billion euros for the full year - 300 million euros more versus previously disclosed targets.