Pirelli & C. S.p.A. reported earnings results for the year 2017. For the year, the company reported approximately 58% of total revenues plus 2 percentage points year-over-year and approximately 83% of EBIT. Adjusted EBIT before startup costs reached EUR 927 million, an increase of 10% year-over-year. Cash flow generation was EUR 200 million before extraordinary transactions. CapEx was 9% of revenues at the end of 2017. The net income from continuing operations grew more than 60% with a 4.9% ratio on sales as a result of the improvement in the operating performance and of actions in the financials and fiscal areas.

For the year 2018, the company expects a solid operating performance, and gaining a revenue growth of around 10%, equal at higher than 6%, including the ForEx impact. Adjusted EBIT, before set startup cost and nonrecurring restructuring charges, is expected to be above EUR 1 billion, with the High Value segment accounting for equal or above 83%. CapEx expects to be about 8% of revenues. The company expects tax rate to be below 29%.