In the first 9 months of this year, Pirelli has failed to do well in both sales and its income compared to the same period in 2015. Pirelli\u2019s net sales saw a slump by a margin of 3.8% and now stands at 4.53 billion euros year-on-year basis. This slump is a direct result of company\u2019s deconsolidation of its business in the South American country, Venezuela. Barring this development, the turnover saw a negligible decline of 0.1% only.<\/p>\n
Pirelli\u2019s Consumer Business saw a healthy profit of 4.8% and now stands at 3.78 billion euros, and the proportion of this segment from premium products surge from 62.2% from 2015 to 64.6% in 2016. While turnover of Pirelli\u2019s Industrial Business dipped sharply by 19% year-on-year basis to stand at 764.9 million euros in 2016.<\/p>\n
Moreover, company’s operating income shrank by 16.6% year-on-year basis to stand at 540.5 million euros till September – 2016. Further, it is worth noting that even without taking the Venezuelan development, Pirelli still would have saw a decline of 13.3% in its operating income. Their operating margin too was less than at the same period a year ago. It was 13.8% in 2015 and now it is 11.9%. The biggest slump was recorded in Net Income that stood at only 22.7 million euros as compared to 276.6 million euros last year during the same recorded period.<\/p>\n","protected":false},"excerpt":{"rendered":"
In the first 9 months of this year, Pirelli has failed to do well in both sales and its income compared to the same period…<\/p>\n","protected":false},"author":4,"featured_media":1002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4],"tags":[1001,1044,996,1045,945,1042,1043,929,1041,862,390,554],"class_list":["post-1943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-auto-news","tag-buy-pirelli-tyres","tag-car-news","tag-discount-on-pirelli-tyres","tag-pirelli-news","tag-pirelli-profits-2016","tag-pirelli-tyres-india","tag-pirelli-tyres-online","tag-pirelli-worldwide","tag-shop-tyres-online","tag-tyre-industry-news","tag-tyre-news"],"yoast_head":"\r\n