Pre-season test three: Barcelona, Spain, February 26-March 1, 2015 PRE-SEASON TESTING ENDS WITH THE TEAMS HAVING TRIED ALL THE 2015 TYRES APART FROM THE FULL WET BOTH BARCELONA TESTS CONFIRM FASTER LAP TIMES OF UP TO TWO SECONDS OR MORE, DEPENDING ON COMPOUNDS PIRELLI COMPOUND CHOICES FOR AUSTRALIA TO BE ANNOUNCED WITHIN NEXT THREE DAYS “Barcelona represented the final opportunity for the teams to assess the interaction between our latest tyres and the 2015 cars, which as we have all noted appear to be significantly quicker than last year’s cars. We’ve seen a difference of up to two seconds, and that gap could be even bigger on the softer compounds. Because of this, the way that the tyres work with the cars has altered, which clearly has an effect on set-up and strategy.
The minutes of the special meeting of holders of Pirelli & C. SpA savings shares, which took place on 27 January 2015, are available to the public from today at the Company headquarters, at Borsa Italiana SpA and through the authorized stocking mechanism (www.1info.it), as well as being published online at www.pirelli.com. PDF Version (22,3 KB)
We travel on it each day without giving it a second thought, never asking ourselves what is the street? Renown artists Marina Zumi, Dome and Alexey Luka share their own answers in time for the 2014 #AnnualReport, transforming our tyre into #StreetArt. #TakePArt
We travel on it each day without giving it a second thought, never asking ourselves what is the street? Renown artists Marina Zumi, Dome and Alexey Luka share their own answers in time for the 2014 #AnnualReport, transforming our tyre into #StreetArt.
TYRES INTERPRETED BY THREE YOUNG ARTISTS IN A WORK OF ART ON SHOW AT HANGARBICOCCA ON 26, 27 AND 28 FEBRUARY #TakePArt LETS VIEWERS SHARE IMAGES AND VIDEOS ON SOCIAL MEDIA THE DIGITAL VERSION OF THE REPORT WILL ALSO CONTAIN VIDEOS ILLUSTRATING THE PROJECT Street Art, with all its boundless creativity and unique forms, will bring to life the communication project that will be part of the Pirelli 2014 Annual Report. The Brazilian artist Marina Zumi, the German Dome, and the Russian Alexey Luka, three of the most interesting names in the new world of Street Art, have interpreted the tyre, illustrating it in three works assembled into a single installation: a truncated pyramid, about five metres tall, with three sides each measuring over twenty square metres, will be on show from 26 to 28 February at HangarBicocca. The work takes up a tradition of communication that has become a hallmark of Pirelli corporate culture, and that has found here the ideal place for its creation
RESULTS IN LINE WITH TARGETS FURTHER REINFORCEMENT OF PREMIUM (VOLUMES +17.8%) IN ALL MARKETS; PRICE/MIX AT +4.2%; EFFICIENCIES OF €92 MILLION CASH GENERATION ABOVE EXPECTATIONS; IN FOURTH QUARTER THE NET FINANCIAL POSITION IMPROVED BY MORE THAN €1 BILLION CONSOLIDATED RESULTS • EBIT: +6.8% TO €838 MILLION (€784.7 MILLION IN 2013), IN LINE WITH 2014 TARGET OF APPROX. €840 MILLION • EBIT MARGIN BEFORE RESTRUCTURING COSTS AT 14.4% (13.4% IN 2013); EBIT MARGIN AFTER RESTRUCTURING COSTS AT13.9% (12.9% IN 2013) • REVENUES: €6,018 MILLION, IN LINE WITH THE TARGET OF >€6.0/ < 6.1 BILLION, WITH ORGANIC GROWTH OF 5.9%; -0.7% COMPARED WITH €6,061 MILLION IN 2013 INCLUDING FOREX EFFECT (-6.6%), • NET FINANCIAL POSITION NEGATIVE APPROX.
ITALIAN PRIME MINISTER MATTEO RENZI VISITS PIRELLI RESEARCH AND DEVELOPMENT CENTRE AT MILAN HEADQUARTERS
Italian Prime Minister Matteo Renzi, accompanied by the Chairman and CEO of Pirelli Marco Tronchetti Provera, today visited Pirelli’s Research and Development Centre at the company’s Milan headquarters, the companies historic seat. The participants also included Alberto Pirelli, deputy chairman of Pirelli, Maurizio Boiocchi, Pirelli’s general manager technology, and Gregorio Borgo, Pirelli’s general manager operations.
Pirelli and Bekaert successfully finalized the sale to Bekaert of Pirelli’s steelcord activities in Izmit, Turkey. The deal closing in Turkey follows the transfer from Pirelli to Bakaert of steelcord plants in Figline (Italy), Slatina (Romania) and Sumaré (Brazil), already announced on December 18th, 2014. As announced in February 2014, the agreement between Pirelli and Bekaert also includes the transfer of the Italian group’s steelcord activities in Yanzhou (China)
LOW TEMPERATURES AND A VERY ABRASIVE TRACK AT JEREZ: POSITIVE INITIAL VERDICT FROM DRIVERS ON 2015 TYRES INCREASED LAPS AND PERFORMANCE COMPARED TO START OF 2014 SHOWS PHENOMENAL HYBRID TECHNOLOGY DEVELOPMENT Pirelli motorsport director Paul Hembery: “The four days at Jerez were quite a straightforward test, with all the teams present getting in a lot more running than they did at this time last year: which just goes to show the phenomenal rate at which this hybrid technology has developed. We experienced varied weather conditions on a very abrasive track at Jerez and encountered no issues, with generally positive comments from the drivers. From a tyre perspective, the two tests in Barcelona later this month will be more representative, as long as the weather remains favourable
Pirelli introduces its first All-Season tyre to Europe. Pirelli has created a genuinely all-purpose tyre that allows the car owner to just ‘arrive and drive’ – whatever the conditions. Thanks to the Cinturato All Season every motorist can sleep easily at night, saving time by not having to carry out the traditional seasonal tyre change, and also feeling the reassurance of Pirelli’s Seal Inside technology, which automatically seals up the hole in the event of a puncture, meaning that journeys can continue uninterrupted.
Pirelli introduce sul mercato europeo il suo primo pneumatico All Season. Con il Cinturato All Season, il guidatore può dormire sonni sereni: ne guadagna in tempo, dimenticandosi del tradizionale cambio stagionale delle gomme, e, soprattutto, ne guadagna in tranquillità, perché anche in caso di foratura, grazie all’esclusiva tecnologia Seal Inside, il nuovo nato di casa Pirelli consente di proseguire la marcia senza necessità di fermarsi per sostituirlo, auto-sigillandosi.
FORMULA ONE AND PIRELLI: ALL THE NUMBERS FROM 2014 Milan, January 29, 2015 – As Paul Hembery, Pirelli’s motorsport director, explains: “Each year, we’ve traditionally published all the numbers that tell the story of our Formula One season. Last year we faced the biggest challenge that we had experienced since entering the sport, thanks to a completely new generation of cars that featured very different characteristics to before. Nonetheless, we met all our targets of helping to provide entertaining races, plenty of overtaking opportunities, diverse strategy options and an average of two pit stops per car at each grand prix, despite the many unknown factors for everybody.
The holders of Pirelli & C. SpA savings shares, during a special meeting held today on sole call, nominated, at the proposal of Anima Sgr S.p.A, manager of the OICR denominated “Anima Geo Italia” and “Anima Star Italia Alto Potenziale”, Mr. Angelo Cardarelli as their common representative for the years 2015, 2016 and 2017.
Pirelli’s commitment towards end user is to offer, besides the right performing tyre for each application / need, a solution to ensure that the tyre is correctly and properly managed during its life, thus enhancing fleet managers to get higher efficiency level. The Cyber Fleet Solution focuses on three key elements of the fleet running costs: Fuel / Tyres / Repair and Maintenance.
PIRELLI UNDERWRITES NEW REVOLVING AND TERM LOAN FACILITY WORTH A TOTAL 1.0 BILLION EUROS WITH MATURITY IN 2020
Competitive conditions and 3x oversubscription confirm appreciation of the banking system Pirelli today signed a new revolving and term loan multicurrency facility worth a total of 1.0 billion euro and with a maturity of five years. The facility replaces an existing 1.2 billion euro revolving line of credit which expires in November 2015 and which, as a consequence, will be cancelled in advance.
Pirelli & C. SpA today called a savings shareholders’ meeting to take place at its headquarters at Viale Sarca 214 in Milan, at midday on January 27th, 2015 in sole call. The shareholders’ meeting has been called to decide on the nomination of a common representative for the holders of savings share for the 3-year period 2015-2017 and on the relative compensation, as well as on the constitution of a fund for the expenditures needed to protect the common interests of savings shareholders and on the relative reporting, as called for under current law
THE CLOSING FOR PIRELLI’S STEELCORD FACTORIES IN CHINA AND TURKEY, PENDING REGULATORY APPROVAL, EXPECTED IN THE FIRST QUARTER OF 2015 Pirelli and Bekaert today successfully finalized the sale to Bekaert of Pirelli’s steelcord activities in Italy (Figline), Romania (Slatina) and Brazil (Sumaré). In line with the announcement made in February, the sale agreement includes the transfer to Bekaert of the steelcord activities belonging to Pirelli in Turkey (Izmit) and China (Yanzhou), for which local regulatory approvals are still pending.
FORMULA ONE AND PIRELLI: HOW IT CHANGED 2013 TO 2014 TECHNOLOGY REVOLUTION Milan, December 10, 2014 - After three years of making tyres that feature deliberate degradation, in accordance with our brief, this year’s revolutionary new rules with turbocharging and increased torque prompted the need for more consistent and predictable tyres, leading to the same average number of pit stops per race (2 or 3). Once more, Pirelli was able to fulfill the brief and help enhance the racing. Paul Hembery, Pirelli motorsport director Download the PDF with text:
Relive with our guests their discovery of their 2015 Pirelli Calendar experience.
2014 Abu Dhabi test: November 25-26, 2014 PIRELLI’S 2015 TYRES MAKE THEIR DEBUT NO DEDICATED PIRELLI DAYS AT THE FINAL TEST OF YEAR WEHRLEIN SETS FASTEST TIME ON DAY TWO USING SUPERSOFT Abu Dhabi, November 26, 2014 – At the final in-season test of the year, held straight after the season-closing Abu Dhabi Grand Prix, Pirelli’s 2015 tyres were seen for the first time – although there were no dedicated Pirelli test days, with each team concentrating on its own independent programme. Every team is allocated 135 sets of tyres for testing purposes throughout 2014, and for the final test of the year teams had 10 sets of this existing allocation replaced with 10 sets of the new 2015 tyres. Pirelli brought the medium, soft and supersoft 2015 tyres to Abu Dhabi, in their definitive specification
Pirelli Tyre S.p.A and the Minister of Investment of the Arab Republic of Egypt today signed a Memorandum of Understanding the object of which is the evaluation of the possible expansion of the Alexandria Tire Co. (Atco), which is over 90% controlled by Pirelli and produces radial truck tyres in Alexandria, Egypt.
2014 Abu Dhabi Grand Prix – Race LEWIS HAMILTON CLAIMS HIS FIRST CHAMPIONSHIP TITLE WITH PIRELLI TYRES AFTER WINNING IN ABU DHABI DIFFERENT STRATEGIES SET UP A GRANDSTAND FINISH BETWEEN HAMILTON AND FELIPE MASSA DANIEL RICCIARDO CLAIMS FOURTH AFTER STARTING FROM PITLANE HELPED BY ALTERNATIVE STRATEGY Abu Dhabi, November 23, 2014 – Lewis Hamilton claimed the second drivers’ championship of his career but his first on Pirelli tyres after winning the title decider in Abu Dhabi, using a two-stop strategy. The Mercedes driver started on the P Zero Red supersoft tyre from second on the grid, but took the lead at the start before completing two stints on the P Zero Yellow soft. The 16th win for Mercedes this season has broken the all-time record of 15 previously held by Ferrari and McLaren
2014 Abu Dhabi Grand Prix – Starting tyre line-up At the 2014 Abu Dhabi Grand Prix the drivers started the race on the following tyres: VETTEL SOFT RICCIARDO SOFT HAMILTON SUPERSOFT ROSBERG SUPERSOFT RAIKKONEN SUPERSOFT ALONSO SUPERSOFT MALDONADO SUPERSOFT GROSJEAN SUPERSOFT BUTTON SUPERSOFT MAGNUSSEN SOFT PEREZ SOFT HULKENBERG SOFT GUTIERREZ SUPERSOFT SUTIL SUPERSOFT VERGNE SOFT KVYAT SUPERSOFT BOTTAS SUPERSOFT MASSA SUPERSOFT KOBAYASHI SUPERSOFT ERICSSON SUPERSOFT
2014 Abu Dhabi Grand Prix – Qualifying NICO ROSBERG CLAIMS POLE FOR CHAMPIONSHIP DECIDERON P ZERO RED SUPERSOFT TYRES TWO-STOP STRATEGY MOST LIKELY: THREE-STOP SPRINT STRATEGY IS ALSO POSSIBLE TRACK TEMPERATURES IN EXCESS OF 30 DEGREES, EVEN IN THE EVENING Abu Dhabi, November 22, 2014 – Mercedes driver Nico Rosberg has claimed pole position for the Abu Dhabi Grand Prix from his team mate Lewis Hamilton, using the P Zero Red supersoft tyre, which is just over a second faster than the P Zero Yellow soft tyre that has also been nominated for the final race of the season. Statistically, in five races held so far at Abu Dhabi, the pole position sitter has only gone on to win the grand prix once (Sebastian Vettel in 2010) while second place on the grid has won three times.
PERFORMANCE GAP OF AROUND 1.2 SECONDS BETWEEN SOFT AND SUPERSOFT COMPOUNDS SO FAR FALLING TRACK TEMPERATURES IN FP2 CLOSELY REPRESENTATIVE OF THE RACE: HAMILTON FASTEST ON SUPERSOFT A VARIETY OF DIFFERENT STRATEGIES ARE POSSIBLE FOR THE GRAND PRIX The Abu Dhabi Grand Prix starts in the late afternoon and ends in the evening, meaning that unusually track temperatures tend to fall as the race goes on. Conditions in FP2, which began at 5pm, will be representative of the race but the earlier FP1 followed a different pattern, with track and air temperatures rising.
The 2015 Pirelli Calendar was presented today to the press, guests and collectors from around the world at Pirelli HangarBicocca, the Pirelli contemporary art space in Milan. Milan was chosen as the venue with the aim of showing an iconic object with the “Made in Italy” label in the city that in 2015 is to be the flagship of Italy in the world when it hosts the Expo Milano 2015 international exhibition. The creator of the forty-second edition of The Cal™, Steven Meisel is one of the world’s most successful fashion photographers, and is known for his eclectic but also reserved personality.
This year’s Calendar is titled "Calendar Girls 2015" by Steven Meisel, and the 12 girls in question are top and emerging models: the Americans Gigi Hadid, Candice Huffine, Carolyn Murphy and Cameron Russell, the Brazilians Isabeli Fontana, Adriana Lima and Raquel Zimmermann. Then there is Karen Elson from England, the Puerto Rican Joan Small, the Russians Natalia Vodianova and Sasha Luss, as well as Anna Ewers from Germany.
Abu Dhabi Grand Prix Preview, November 20-23, 2014 SOFT AND SUPERSOFT FOR THE FINAL GRAND PRIX OF THE SEASON SMOOTH ASPHALT AND 90-DEGREE CORNERS FOR THE CHAMPIONSHIP DECIDER, WITH DOUBLE POINTS ON OFFER TWO-DAY TEST FOLLOWING THE GRAND PRIX Milan, November 17, 2014 – The final grand prix of the season will take place in Abu Dhabi, using the soft and supersoft tyre: a step softer than last year’s nomination of medium and soft. Yas Marina is a circuit that Pirelli knows well, having completed some of its private testing there before entering Formula One back in 2011, with Abu Dhabi being a well-known venue for official tests as well. This year is no exception, with the final two-day test of the season taking place straight after the grand prix, from Tuesday to Wednesday.The track surface is quite smooth, featuring a variety of 90-degree corners.
3D animated video by Pirelli describing Yas Marina circuit from a tyre point of view.
THE 1.75% COUPON IS THE LOWEST IN PIRELLI’S HISTORY AND FOR AN ITALIAN UNRATED CORPORATE EUROBOND Milan, 13 November 2014 – Pirelli has concluded the placement of an unrated bond issue with international institutional investors on the Euromercato for a total nominal value of 600 million euro. The operation obtained the lowest coupon – 1.75% – in Pirelli’s history, as well as for an Italian unrated corporate Eurobond, demonstrating the confidence investors have in Pirelli’s credit.
TOP SIX FINISHERS USE THREE-STOP STRATEGY IN BRAZIL: RAIKKONEN STOPS TWICE HOTTEST TRACK TEMPERATURES IN RECENT HISTORY AT INTERLAGOS, COMBINED WITH NEW ASPHALT, PROVIDE A BIG CHALLENGE FOR TYRES IN FIRST STINT CLOSE TACTICAL BATTLE BETWEEN MERCEDES DRIVERS FOR VICTORY Mercedes driver Nico Rosberg has closed the gap in the drivers’ championship to his team mate Lewis Hamilton after winning the Brazilian Grand Prix from pole, using a three-stop strategy. Rosberg did an opening stint on the soft tyre and then completed the race with the medium tyre, in high temperatures that were in contrast to the expected rain. Hamilton adopted a similar strategy to finish runner-up, 1.5 seconds behind his team mate, after losing some time when he ran wide earlier in the race