Pirelli profits up in 2014

Milan, Italy – Pirelli has announced its preliminary financial results for the financial year 2014, ended 31 Dec 2014, saying the figures were “in line with targets”.

Earnings before interest and tax (EBIT) rose by 6.8 percent year-on-year to €838 million – just short of Pirelli’s target of around €840 million.

Company revenues were also in-line with target at €6,018 million, with organic growth of 5.9 percent, showing a drop of 0.7 percent compared to €6,061 million in 2013.

In its tire sector activities, Pirelli posted a 4.5-percent year-on-year rise in earnings to  €853 million in 2014.