Annual General Meeting held, financial statments for 2006 approved
The shareholders of Pirelli & C. Real Estate met today in ordinary and extraordinary session. During the ordinary session, the shareholders approved the financial statements for 2006, which reported double-digit growth by all the main performance indicators. The Group's share of aggregate revenues at the end of 2006 was 1,560 million euro, reporting a 12% increase on 2005, while EBIT including net income from partecipation was 214.4 million euro, up 15% on the year before. Consolidated net income for 2006 was approximately 10% higher at 159.5 million euro. The shareholders then declared a dividend of 2.06 euro per share, corresponding to a pay-out ratio of around 55%, in line with the 50-60% target range contained in the 2006-2008 three-year plan. The dividend will be paid on May 4th, 2007, with the shares going ex-div on April 30th, 2007.