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Pirelli sees 2021 sales, profitability rising as outlook brightens, Auto News, ET Auto

Pirelli sees 2021 sales, profitability rising as outlook brightens, Auto News, ET Auto

by admin
March 10, 2021
in Auto News
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The margin on last year's adjusted EBIT stood at 11.6%, in line with an already cut guidance of between 11.5%-12%.
The margin on final yr’s adjusted EBIT stood at 11.6%, in keeping with an already reduce steering of between 11.5%-12%.

MILAN: Italian tyre-maker Pirelli stated on Wednesday it expects to develop gross sales and profitability this yr, helped by an enhancing outlook for the worldwide automotive tyre market.

The producer of tyres for System One and high-end carmakers corresponding to BMW and Audi, stated its adjusted earnings earlier than curiosity and tax (EBIT) fell 45.4% to 501.2 million euros ($596.08 million) final yr, in keeping with a company-provided analyst consensus of 499 million euros.

The margin on final yr’s adjusted EBIT stood at 11.6%, in keeping with an already reduce steering of between 11.5%-12%.

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