Results announced! How big profitable is Pirelli!

Recently, Pirelli Tire announced the third quarter report of 2021.

Data show that Pirelli achieved operating income of 1.4145 billion euros in the third quarter, about 10.203 billion yuan, an increase of 10.7% compared to the third quarter of 2020; net profit increased by 24.7% to 104.6 million euros (about 754 million yuan).

Affected by the reduced production of core-deficient vehicles, Pirelli tire sales fell 0.4%, but sales of high-value tires increased 1.8%.

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In the first three quarters, Pirelli’s sales revenue increased by 28.6% to 3.979.3 billion euros (28.703 billion yuan), of which the sales of high-value tires accounted for 71.4% of total revenue; net profit was 236.2 million euros (1.704 billion yuan) in the first 9 months of 2020. 17.8 million euros per month.

Total tire sales increased by 24.7%, of which the sales of high-value tires increased by 27.8%, the sales of tires over 18 inches increased by 31%, and the sales of 19-inch tires increased even more, with an increase of 38%. Pirelli said that the share of tires in all regions is increasing.

For 2021, Pirelli has raised its forecast for 2021 with the increase in sales. It is estimated that the annual sales revenue in 2021 will be 5.15 billion euros (37.147 billion yuan), mainly due to the 14% to 15% increase in tire sales compared to 2020. And the price/combination is “significantly improved.”

At the same time, Pirelli also stated that due to the “extended duration of the lack of cores in the entire automotive supply chain”, global tire demand is expected to grow by 7% by 2021, lower than the previous forecast of 10%.

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