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%.
Comply with and join with us on Twitter, Fb, Linkedin, Youtube
