Pirelli & C. S.p.A. reported earnings results for the nine months ended September 30, 2018. For the period, the company reported, net sales of EUR 3,925.2 million against EUR 4,038.5 million a year ago. EBITDA adjusted was EUR 907.7 million against EUR 836.3 million a year ago. EBIT adjusted was EUR 700.1 million against EUR 642.2 million a year ago. EBIT was EUR 591.4 million against EUR 541.1 million a year ago. Net income before tax was EUR 444.8 million against EUR 232.6 million a year ago. Net income related to continuing operations (consumer) was EUR 378.1 million against EUR 198.9 million a year ago. Total net income was EUR 371.4 million against EUR 123.9 million a year ago. Net income attributable to the Parent Company was EUR 362.5 million against EUR 865.7 million a year ago. Adjusted EBITDA before start-up costs was EUR 936.3 million against EUR 123.6 million a year ago. Adjusted EBIT before start-up costs was EUR 732.1 million against EUR 681.2 million a year ago.

For the year of 2018, Profitability targets confirmed with an Adjusted EBIT before start-up costs above EUR 1 billion and Adjusted EBIT at approximately EUR 1 billion, Strengthening of High Value confirmed (about 64% of revenues, >83% of Adjusted EBIT before start-up costs); further acceleration of the reduction of the standard segment also as a consequence of the weakness in South America, Revenues expected at EUR 5.2 billion impacted by the decline in South America; High Value volumes expected to grow by about +13%, price/mix expected at around +6.5%.