Pirelli: confirms 2018 outlook after 'in line' first-half
(CercleFinance.com) - Pirelli, the world's fifth-largest tyre maker, is maintaining its full-year guidance, after H1 performance was "in line" with expectations.
The Italian company confirmed its target for adjusted Ebit before start-up costs of over 1 billion euros this year, and also confirmed it expected 2018 revenues of approximately 5.4 billion euros.
In the first six months of the year, Pirelli's earnings before interest and tax, or EBIT, rose by 6.8% to 473.3 million euros before start-up costs, and its EBIT margin on sales increased to 18% from 16.5% in the first half of 2017.
Net profit jumped to 181.9 million euros, from 67.6 million euros during the first half of last year.
After this update, the shares were up slightly (+0.1% at 7.5 euros) in Milan.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Italian company confirmed its target for adjusted Ebit before start-up costs of over 1 billion euros this year, and also confirmed it expected 2018 revenues of approximately 5.4 billion euros.
In the first six months of the year, Pirelli's earnings before interest and tax, or EBIT, rose by 6.8% to 473.3 million euros before start-up costs, and its EBIT margin on sales increased to 18% from 16.5% in the first half of 2017.
Net profit jumped to 181.9 million euros, from 67.6 million euros during the first half of last year.
After this update, the shares were up slightly (+0.1% at 7.5 euros) in Milan.
Copyright (c) 2018 CercleFinance.com. All rights reserved.