Telecoms Crisis Means First Half Loss For Pirelli

Pirelli’s first half figures show that the group made a loss of 52 million Euros in the first half of the year, compared to a profit of around 200 million Euros for 1H 2001. This is directly attributable to what Pirelli calls “the unprecedented crisis in the world telecommunications market; excluding telecom consortium Olimpia (in which Pirelli has a 60 per cent stake), the group’s profit was 2 million Euros. Tyre sales were up 0.

7 per cent over 1H 2001, at 1.488 billion Euros..