Pirelli's Q3 Sales Dip, But Profitability Improves

Pirelli, the tire giant, reported a slight dip in sales for Q3 2022, with a two point three percent decrease to one billion, six hundred ninety-seven million euros. However, their adjusted operating profit increased to two hundred twenty-seven million euros, and their operating profit margin improved to sixteen point three percent. The sales decline was due to a drop in tire sales and negative currency exchange rates, but was offset by a positive pricing strategy and product mix. Pirellis focus on high-value tires, those eighteen inches and larger, is contributing to their profitability. Despite the sales dip, Pirelli is holding steady with its full-year outlook for 2025, expecting a slightly lower volume growth of zero point five percent and a higher price mix estimate of three point five to four percent.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.