12
September
2006
|
17:10
Europe/Amsterdam

Board of Directors approves 1H 2006 results

PIRELLI & C. SPA BOARD OF DIRECTORS APPROVES RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2006:
  • THE GROUP ENDS THE FIRST HALF WITH A CONSOLIDATED NET INCOME OF 193.1 MILLION EUROS (APPROXIMATELY +9% ON A LIKE-FOR-LIKE BASIS)
  • ALBERTO BOMBASSEI JOINS BOARD AS INDEPENDENT

    PIRELLI & C. SPA GROUP
  •  NET SALES: 2,445.9 MILLION EUROS, AN INCREASE OF 7.2% FROM 2,281.4 MILLION IN FIRST HALF 2005 (+3.4% NET OF EXCHANGE RATES)
  • EBIT: 216.1 MILLION EUROS (+6.7%); ROS AT 8.8%  
  • EBIT INCLUDING RESULT FROM EQUITY PARTICIPATIONS: 381.3 MILLION EUROS, AN INCREASE OF 13.5% FROM 335.9 MILLION IN FIRST HALF 2005
  • NET DEBT: 1,574.9 MILLION EUROS, COMPARED WITH 1,494.7 MILLION ON 31 MARCH 2006. THE VARIATION DUE MAINLY TO DIVIDEND DISTRIBUTION
  • NET INCOME: 193.1 MILLION EUROS, AN INCREASE OF 8.7% FROM 177.6 MILLION EUROS IN FIRST HALF 2005 ON A LIKE-FOR-LIKE BASIS
  • OLIMPIA: PRO-QUOTA RESULT 71.2 MILLION EUROS (85.8 MILLION IN FIRST HALF 2005)
    PIRELLI TYRE
  • NET SALES: 2,018.4 MILLION EUROS, AN INCREASE OF 12.4% FROM 1,795.8 MILLION IN FIRST HALF 2005 (+7.4% NET OF EXCHANGE RATES)
  • EBIT FROM ORDINARY OPERATIONS: 201.1 MILLION EUROS (+7.5%); ROS AT 10%. EBIT AFTER COSTS OF IPO PROJECT: 194.6 MILLION EUROS (+4.1%); ROS AT 9.6%
  • NET INCOME: 118.3 MILLION EUROS (116.2 MILLION IN FIRST HALF 2005)

    PIRELLI RE

  • MARKET VALUE OF ASSETS UNDER MANAGEMENT TOTALS APPROXIMATELY 14 BILLION EUROS (UP 15% FROM JUNE 2005)
  • EBIT INCLUDING RESULT FROM EQUITY PARTICIPATIONS: 92.3 MILLION EUROS (+15% FROM FIRST HALF 2005) 
  • NET INCOME: 70 MILLION EUROS (+17% FROM 59.8 MILLION IN FIRST HALF 2005)

    PIRELLI BROADBAND SOLUTIONS
  • NET SALES: 72.7 MILLION EUROS, AN INCREASE OF 13.8% FROM 63.9 MILLION IN FIRST HALF 2005
  • EBIT: BREAK-EVEN (-2.6 MILLION EUROS IN FIRST HALF 2005)
    PIRELLI AMBIENTE
  • NET SALES: 39.3 MILLION EUROS, AN INCREASE OF 36.5% FROM 28.8 MILLION ON 30 JUNE 2005
  • EBIT: 1.5 MILLION EUROS  (-1.8 MILLION EUROS IN FIRST HALF 2005)

    §

  • 2006 OUTLOOK: GROUP CONFIRMS EXPECTATIONS OF IMPROVED RESULTS