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Investing.com -- Pirelli reported third-quarter sales of €1,697 million, representing a 2.3% year-over-year decline, while adjusted operating profit reached €227 million, a slight increase of 0.1% compared to the same period last year.
The company’s operating profit margin improved to 16.3% in the third quarter, up from 15.9% a year ago.
The sales decline was attributed to several factors, including a 1.5% decrease in volumes, a 4.3% negative impact from foreign exchange movements, and a 0.4% decline from other factors. These negative elements were partially offset by a positive 3.9% contribution from price mix.
Pirelli noted an improvement in its product mix, with high-value-added products (18 inches and over) increasing to 79% of sales in the third quarter, compared to 76% in the same period last year.
Despite the sales decline, the Italian tire manufacturer maintained its full-year guidance for 2025, with minor adjustments. The company revised its volume outlook to 0.5% year-over-year growth, down from its previous estimate of 1.0%. Pirelli also updated its price mix estimate to between 3.5% and 4.0%, up from the previous range of 3.0% to 3.5%.
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