Pirelli publishes 2017 results
Pirelli & C. S.p.A. has reported a 7.6 per cent increase in revenues, to 5.35 billion euros, for the 2017 financial year. This figure is below the growth target of approximately nine per cent set for 2017; Pirelli says this lower growth was due to a greater than anticipated forex impact and the acceleration of the reduction of exposure to its ‘standard’ segment. The aforementioned revenue increase includes growth of 11.8 per cent within what Pirelli refers to as its ‘High Value’ segment, whose revenues of 3.08 billion euros accounted for 57.5 per cent of sales, up from 55.3 per cent in 2016.