PIRELLI: 2025 RESULTS MAJORITY APPROVED

Pirelli Confirms 2026 Targets Amid Middle East Crisis, EBIT Seen at Lower End.

Pirelli has confirmed its 2026 targets, supported by a mitigation plan to contain the impacts of the Middle East crisis, with Adjusted EBIT expected at the lower end of guidance.

The Board also proposed a dividend of €0.34 per share for 2025, including €0.10 extraordinary, for a total of around €369 million.

The Board of Directors approved the 2025 results, previously communicated in preliminary form in February. Of the 14 members, 9 voted in favour, while some opposed or abstained due to differing views on the cessation of Sinochem’s control.

2025 Results

Pirelli reported a net profit of €285.2 million at parent level and confirmed a dividend proposal of €0.24 per share, plus an additional €0.10 per share based on positive results and improved financial leverage.

At group level, net profit reached €530.7 million (+5.9%), with revenues of €6.77 billion, 79% generated by the High Value segment. The company invested €312.7 million in R&D, mainly in High Value activities.

Net debt stood at €1.1 billion, better than targets, with a Net Financial Position/Adjusted EBITDA ratio of 0.71x. Sustainability performance also improved.

2026 Targets

Pirelli stated that the Middle East crisis remains uncertain and is putting pressure on energy and raw material costs, with potential impacts on inflation and demand.

The company’s exposure to the region is limited (around 1% of revenues). Measures implemented include price increases, cost control, logistics optimization and higher raw material inventories to ensure production continuity.

Taking these actions into account, Pirelli confirmed its 2026 targets, with Adjusted EBIT expected at the lower end of guidance.