SPLIT STRATEGIES DURING RAIN-AFFECTED QUALIFYING: HAMILTON ON POLE WITH CINTURATO INTERMEDIATE FERRARI DRIVERS AND WILLIAMS DRIVER VALTTERI BOTTAS THE ONLY ONES TO USE JUST THE P ZERO HARD TYRE IN Q1 THREE-STOP STRATEGY MOST LIKELY FOR A HOT GRAND PRIX TOMORROW Just like last year in Malaysia, the final qualifying session was held in wet conditions with the Mercedes of Lewis Hamilton clinching pole position, using the Cinturato Green intermediate tyre. Ferrari’s Sebastian Vettel was runner-up, less than a tenth of a second off Hamilton’s time on the same tyre. The Ferrari drivers and the Williams of Valtteri Bottas were the only competitors to get through Q1 using the hard tyre only, saving a set on new medium tyres for the race, with all the others going straight out on the medium.
2015 Malaysian Grand Prix – Practice Sessions TRACK TEMPERATURES OF 56 DEGREES, SIMILAR TO THE HIGHEST TEMPERATURES IN 2014, CAUSE HIGH WEAR AND DEGRADATION PERFORMANCE GAP OF APPROXIMATELY 0.9-1.0 SECONDS BETWEEN HARD AND MEDIUM COMPOUNDS NO BLISTERING DESPITE THE EXTREME CONDITIONS: WET WEATHER STILL POSSIBLE FOR QUALIFYING AND THE RACE Sepang, March 27, 2015 – The highest temperature seen on track last year was 57 degrees centigrade during the Brazilian Grand Prix weekend – and that record came close to being beaten today, with track temperatures in Sepang that peaked at 56 degrees in FP2. In these tough conditions, with high-energy corners and significant downforce loads, wear and degradation is inevitably high, with low grip due to surface overheating. So far, there is a performance gap of 0.9 to 1.0 seconds between the P Zero Orange hard and P Zero White medium compounds that have been nominated for this weekend.
With this transaction the sale of Pirelli’s steelcord business is complete Pirelli and Bekaert successfully finalized the sale to Bekaert of Pirelli’s steelcord activities in Yanzhou, Shandong Province, China. With this transaction, the transfer of Pirelli’s steelcord business to Bekaert is now complete. This follows the transfer from Pirelli to Bekaert of steelcord plants in Figline (Italy), Slatina (Romania), Sumaré (Brazil) and Izmit (Turkey)
In fulfilment of the requirements of article 129 of the Regolamento Emittenti (Consob Issuers Regulation) 11971/99 here attached are the extracts of the shareholder agreements that will be published by its underwriters tomorrow, March 27th 2015 in the daily newspaper Il Sole 24 Ore. PDF Version (127 KB)
Malaysian Grand Prix Preview: Sepang, March 26-29, 2015 MEDIUM AND HARD P ZERO COMPOUNDS FOR HIGH TEMPERATURES AND ABRASIVE ASPHALT OF MALAYSIA TROPICAL CLIMATE MAKES IT LIKELY FOR 2015 CINTURATO INTERMEDIATE AND FULL WET TYRES TO MAKE THEIR COMPETITIVE DEBUT FASTER LAP TIMES GIVE EVEN MORE WORK TO THE TYRES IN SEPANG Milan, March 23, 2015 – The Malaysian Grand Prix: an abrasive surface with high heat and humidity makes this race a true test for drivers, cars and tyres. Nearly every afternoon there is an intense downpour, making it likely to see the Cinturato tyres in competitive action for the first time this year. Paul Hembery, Pirelli motorsport director: “The Australian Grand Prix two weeks ago confirmed what we saw in testing: lap times that are two seconds or more faster this year compared to last year, in every session
At the request of Consob, with reference to rumours which have been circulating in the media in recent days – in particular those contained in the article published by Corriere della Sera On March 19th, 2015 (“Pirelli, nuovi soci e governance – Allo studio un riassetto con opa”) – Pirelli states that as of today it has not received any formal communication about the launch of a mandatory tender offer. PDF Version (19,3 KB)
AUSTRALIAN GRAND PRIX CONFIRMS LAP TIME REDUCTION BY TWO SECONDS IN EVERY SESSION COMPARED TO 2014, HELPED BY PIRELLI’S NEW REAR CONSTRUCTION Milan, March 19, 2015 – Analysis of the data from the Australian Grand Prix has shown that the cars were around two seconds quicker per lap during every session compared to 2014, a trend set to continue throughout the rest of this season. During last year’s Australian Grand Prix, which was held in similar race conditions, the best time of the weekend was 1m29.375s (in FP3, soft tyre): a benchmark that already came close to being broken in FP1 this year, with the cars straight out of the box. The quickest time of the weekend this year was 1m26.327s (in qualifying, soft tyre): a full three seconds faster than 2014 when the fastest time of the weekend was in FP3, due to a wet qualifying
2015 Australian Grand Prix – Race LEWIS HAMILTON WINS RACE OF ATTRITION WITH A ONE-STOP STRATEGY.MOST DRIVERS STOP ONCE, SOME CHOOSE A TWO-STOPPER WEAR AND DEGRADATION EXTREMELY CONTAINED THROUGHOUT 58-LAP RACE:LONG STINTS ON BOTH MEDIUM AND SOFT COMPOUNDS INCREASE IN PERFORMANCE CONFIRMS THE DATA COLLECTED IN PRE-SEASON TESTING Melbourne, March 15, 2015 – Reigning champion Lewis Hamilton made a perfect start to his title defence by beating his Mercedes team mate Nico Rosberg to record his second win in Australia and the 34th of his career. Both Mercedes drivers stopped once, starting on the soft tyre and then switching to the medium tyres on laps 25 and 26 respectively.
LEWIS HAMILTON CLAIMS POLE ON P ZERO SOFT TYRES WILLIAMS DRIVER VALTTERI BOTTAS THE ONLY NON-MERCEDES DRIVER TO GET THROUGH Q1 WITH P ZERO MEDIUM TYRE TWO PIT STOPS EXPECTED FOR THE MAJORITY OF RUNNERS TOMORROW Lewis Hamilton has claimed pole position for the Australian Grand Prix from his Mercedes team mate Nico Rosberg on the P Zero Yellow soft tyre, which is up to 1.4 seconds faster than the P Zero White medium also nominated for the first race of 2015. Hamilton now becomes the most successful driver in the history of qualifying at Melbourne, with four pole positions at the circuit. Since 2005, the race has been won from pole six times, while the lowest placing from which the grand prix has ever been won is seventh
CAR AND TYRE PERFORMANCES IN LINE WITH EXPECTATIONS FOLLOWING PRE-SEASON TESTING FASTEST PRACTICE TIMES TWO SECONDS FASTER THAN EQUIVALENT TIMES LAST YEAR PERFORMANCE GAP OF APPROXIMATELY 1.4 SECONDS BETWEEN MEDIUM AND SOFT P ZERO COMPOUNDS SO FAR The opening two practice sessions of the Australian Grand Prix began to answer some of the questions that had arisen during the winter, but the performance of the medium and soft P Zero tyres at Albert Park was exactly as expected. The revisions to the structure of the rear tyres for 2015 are designed to accommodate the needs of the latest generation of cars, which are even faster than last year. The fastest time in the first free practice session this year, which was run entirely on the medium compound, was more than two seconds faster than the equivalent time last year, with the fastest time in this year’s second free practice session, set by the soft tyre, nearly two seconds faster as well.
PIRELLI PROMOTES OVERTAKING, WITH TWO TO THREE PIT STOPS, THANKS ALSO TO THE LATEST RANGE OF P ZERO TYRES P ZERO EXPANDS INTO FAR EAST WITH GREATER INVOLVEMENT IN ONE-MAKE SERIES EMPHASIS ON YOUNG DRIVERS IN EUROPE, WITH FORMULA 4 AND GERMAN GT INCREASED PRESENCE IN THE AMERICAS WITH WORLD CHALLENGE AND BRAZILIAN STOCK CAR With three days to go before the first round of motorsport’s premier racing series, Pirelli’s season comes to life with the presentation the 2015 Formula One tyres, marking the Italian firm’s fifth consecutive year in the sport. This underlines Pirelli’s strategy of expansion in the world of motorsport, where the company is already the world leader thanks to more than 300 championships in over 40 countries: half of which are in open tyre competition.
SOFT AND MEDIUM P ZERO COMPOUNDS FOR FIRST GRAND PRIX OF 2015 SEASON LAP TIMES MAY BE UP TO TWO SECONDS FASTER THAN LAST YEAR: A GAP OF MORE THAN ONE SECOND EXPECTED BETWEEN SOFT AND MEDIUM NEW REAR TYRE STRUCTURE FOR 2015, INCREASING TRACTION, PERFORMANCE AND DURABILITY The Australian Grand Prix circuit: a semi-permanent facility at Albert Park in Melbourne, where the soft and medium P Zero tyres have been chosen. There’s a slippery surface, low grip, high downforce and heavy braking: all of which increase the workload on the tyres.
‘The Street is my medium, is my canvas’ Marina Zumi shares her passion and love for Street Art, which led her to create a unique piece of art for Pirelli’s Annual Report.
Pirelli has nominated the tyres that will be used in the grands prix of Australia, Malaysia, China and Bahrain: the first four races of the 2015 season. In Australia, Pirelli will bring the P Zero White medium and P Zero Yellow soft compounds: well-suited to the varied demands and wide range of potential weather conditions experienced at the semi-permanent Albert Park facility in Melbourne.
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