News Details

Pirelli's pricing power helps offset economic challenges

Strong pricing power and cost savings will help Pirelli offset economic challenges, the Italian tyremaker said on Thursday as it beat second-quarter operating profit expectations and raised its full-year revenue forecast. The sole supplier of Formula 1 tyres, said its adjusted earnings before interest and tax (EBIT) rose 21% in the April-June period to 253 million euros ($258 million), topping a company-provided analyst consensus of 238 million euros. Higher commodity costs of 116 million euros weighed on the result along with 88 million euros in increased production costs, the company said. Chief Executive Marco Tronchetti Provera told analysts that Pirelli's business model, which focuses...
Full Story »
6mo ago from GrandPrix247.com 0
Share

You May Also Be Interested In...

Sebastian Vettel racing in DTM ‘would be a...

Sebastian Vettel's retirement from Formula 1 has caused...
6mo ago from Formula1News.co.uk

Hungarian Grand Prix: Top Three Press Conference

Transcript from the post-race interviews and FIA hosted top three press...
6mo ago from GrandPrix247.com

George Russell warns Mercedes against ‘changing...

The Mercedes F1 Team made yet another step in the right direction at the...
6mo ago from Formula1News.co.uk

TeamTalk: A look back on 2022 Hungarian Grand Prix

The 2022 Hungarian Grand Prix could've been a boring race on a track that...
6mo ago from GrandPrix247.com

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

Ericsson sets fastest lap of IndyCar pre-season test

Last year’s Indianapolis 500 winner, Marcus Ericsson, has driven his...
23h ago from SpeedCafe.com

Popular On TotalWRC.com

Popular On GunnersToday.com

Everton's board of directors 'absent from Arsenal...

Everton's board of directors miss a second straight home game after being...
5h ago from SportsMole.co.uk

'It's just ridiculous' - Charles Watts fumes over...

Journalist Charles Watts has slammed certain Arsenal fans who have called...
10h ago from FootballFancast....

'I love them': Mikel Arteta backs Arsenal players...

el Arteta declared his love for the Arsenal players after Saturday's 1-0...
9h ago from TheGuardian.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.