Q1 2023 sell-in markets in
PC/LT tire markets contracted by 3%, impacted by replacement demand in
Truck tire markets outside
Specialty tire markets remained strong, especially in the Mining and Aircraft segments, but were weaker
Non-tire markets continued to expand in such segments as general industrial, mining, energy and fleet services.
Consolidated sales rose by 7.4% to
A 6.6% decline in volumes, stemming primarily from weaker PC/LT and Truck sell-in demand, with
A 12.3% price-mix effect, reflecting the Group products' quality and performance. The growth in high-value segments and strong Mining tire sales have more than offset an unfavorable OE/RT mix.
A 15% growth in non-tire sales, both High-Tech Materials and Fleet Services.
A 0.8% gain from the currency effect, reflecting mainly the USD/EUR evolution.
FULL-YEAR GUIDANCE
The Group confirms its projected scenario in markets trending towards the lower end of the initial ranges. Sales volumes are still expected to end the year within the [-4%; -0%] range.
2023 guidance is confirmed, with segment operating income above
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