PIRELLI: ANNUAL FINANCIAL REPORT FOR 2014 DEPOSITED TOGETHER WITH REPORT ON POLICY RELATING TO MATTERS OF REMUMERATION
SHAREHOLDERS’ MEETING OF MAY 14, 2015 With reference to the Shareholders’ Meeting called for May 14, 2015, the Company states that today the annual financial Report for 2014 (complete with all reports) – together with the Report relating to Policy in matters of remuneration – is available to the public at the Company’s headquarters, in Milan at Viale Piero e Alberto Pirelli 25, and at Borsa Italiana S.p.A., we well as being published on the Company’s website www.pirelli.com and via the authorized stocking mechanism www.1info.it. PDF Version (23,4 KB)
PIRELLI: SHAREHOLDERS’ MEETING OF MAY 14, 2015 CAMFIN WILL PROPOSE CONFIRMATION OF DIRECTORS CO-OPTED ON JULY 10, 2014 With reference to the ordinary Shareholders’ Meeting of Pirelli & C. SpA called for May 14th, 2015, in sole call, to deliberate, among other things, with regard to the nomination of the members of the Statutory Auditors Committee, the Company announces that, within the expected terms, two lists of candidates have been deposited by Camfin S.p.A.
2015 Bahrain Grand Prix – Race MIXED TACTICS ENSURE CLOSE BATTLES FROM START TO FINISH FALLING TRACK AND AIR TEMPERATURES ADD EXTRA COMPLEXITY TO STRATEGY DECISIONS RAIKKONEN USES ALTERNATIVE TWO-STOP STRATEGY TO CLAIM SECOND PLACE ON PENULTIMATE LAP AND CHALLENGE FOR THE LEAD Manama, April 19, 2015 – The spectacular Bahrain Grand Prix, held under lights in the evening with falling track and ambient temperatures, provided a high-speed tactical battle, during which drivers chose an assortment of two-stop and three-stop strategies. Two stops were expected for most of the drivers (even though a three-stopper was theoretically faster) due to the problem of passing cars in traffic. But the pace of the medium tyre, which worked extremely well in the falling track temperatures, allowed more drivers to make use of the faster strategy and opened up several options
LEWIS HAMILTON, ON NEW SOFT TYRES, CLAIMS FOURTH CONSECUTIVE POLE POSITION: HIS FIRST IN BAHRAIN TWO STOPS THE MOST LIKELY STRATEGY FOR TOMORROW’S RACE MERCEDES, FERRARI, WILLIAMS AND THE TORO ROSSO OF SAINZ ARE THE ONLY CARS IN TOP 10 WITH ONE NEW SET OF SOFT TYRES AVAILABLE FOR THE RACE Mercedes driver Lewis Hamilton has kept up his clean sweep of all the pole positions so far this season, using the P Zero Yellow soft tyre – nominated together with the P Zero White medium this weekend – to claim his first pole in Bahrain. Qualifying in Bahrain got underway in the evening with a track temperature of 31 degrees and ambient temperature of 26 degrees. Temperatures continued to fall as the session went on: a track characteristic that will repeat itself during tomorrow’s race, which starts at the same time.
LOW THERMAL DEGRADATION FROM BOTH MEDIUM AND SOFT COMPOUNDS IN CONDITIONS REPRESENTATIVE OF THE RACE TWO SECONDS SEPARATE THE TWO COMPOUNDS SO FAR SANDSTORM POSSIBLE FOR TOMORROW The Friday free practice sessions were in marked contrast to each other in Bahrain. The opening FP1 session at 2pm was held in ambient temperatures in excess of 35 degrees centigrade and track temperatures in excess of 50 degrees centigrade, while FP2 at 6pm took place in darkness, with ambient temperatures below 30 degrees and track temperatures in the region of 32.
PIRELLI AND ROSNEFT IDENTIFY SYNTHOS AS TECHNOLOGICAL PARTNER FOR SYNTHETIC RUBBER DEVELOPMENT IN NAKHODKA
THE 3 GROUPS SIGN MOU FOR FEASIBILITY STUDIES FOR THE PROJECT Pirelli and Rosneft, in the context of the Memorandum of Understanding signed last year, have identified Synthos, a leading manufacturer of chemical raw materials based in Poland, as their technological partner for the development of research, production and supply relating to synthetic rubber in Nakhodka, in the context of the FEPCO (Far East Petrochemical Company) petrochemical cluster. Pirelli, Rosneft and Synthos have thus signed a Memorandum of Understanding to conduct feasibility studies for these activities which regard the engineering design requisites and the operation of the plant, market studies, investments and estimates of operating costs.
In fulfilment of the requirements of article 129 of the Regolamento Emittenti (Consob Issuers Regulation) 11971/99 here attached is the extract of the Share Purchase Agreements signed on April 10, 2015 by China National Tire & Rubber Corporation, Ltd. and Edizione S.r.l. that will be published by its underwriters tomorrow, April 15th, 2015 in the daily newspaper Italia Oggi.
Bahrain Grand Prix Preview: Manama, April 16-19, 2015 P ZERO WHITE MEDIUM AND P ZERO YELLOW SOFT TYRES FOR THE FIRST EVENING GRAND PRIX OF THE SEASON TRACK TEMPERATURES FALL AS THE RACE GOES ON FIRST GP2 RACE OF THE YEAR, ALSO SUPPLIED BY PIRELLI Milan, April 13, 2015 – Bahrain, a favoured testing venue in the past on account of its year-round warm weather, hosts the third race of the season where the medium and soft compounds have been nominated, like Australia and China. Unlike these, it is a twilight race: starting in the evening and finishing in the dark. As a result, track and air temperatures tend to fall as the race goes on
2015 Chinese Grand Prix – Race HAMILTON WINS IN CHINA WITH SOFT-SOFT-MEDIUM TWO-STOP STRATEGY LOWER DEGRADATION THAN EXPECTED, ESPECIALLY ON SOFT TYRES TWO-STOP STRATEGIES FOR THE MAJORITY OF DRIVERS, WITH OTHER VARIATIONS FURTHER DOWN THE FIELD Shanghai, April 12, 2015 – Mercedes driver Lewis Hamilton has claimed his second win of the season in Shanghai, underlining his status as the most successful driver in the history of the Chinese Grand Prix with four wins, having started from pole. The top four used an identical two-stop strategy, with two opening stints on the soft tyre followed by a final stint on the medium tyre. Hamilton set the fastest lap of the race on the soft tyre during his second stint.
2015 Chinese Grand Prix – Qualifying LEWIS HAMILTON CLAIMS POLE FOR MERCEDES ON P ZERO YELLOW SOFT TYRE TWO-STOP STRATEGY MOST LIKELY FOR MAJORITY OF DRIVERS, BUT THREE-STOPPER ALSO POSSIBLE MERCEDES AND FERRARI ARE THE ONLY TEAMS IN TOP 10 TO HAVE NEW SETS OF SOFT TYRES AVAILABLE FOR THE RACE Shanghai, April 11, 2015 – Mercedes driver Lewis Hamilton continued his clean sweep of pole positions throughout the 2015 season and claimed his fifth pole in China, thanks to a time of 1m35.782s on the P Zero Yellow soft tyre. His team mate Nico Rosberg lines up alongside him on the grid tomorrow, just 0.042 seconds behind. Mercedes built their advantage from Q1, when they were the only team to get through the session using only the medium tyre, which was nearly two seconds slower than the soft.
EXEMPLARY DURABILITY FROM PIRELLI P ZERO WHITE MEDIUM AND P ZERO YELLOW SOFT TYRES: NEARLY NO GRAINING DESPITE COOL TEMPERATURES PERFORMANCE GAP OF APPROXIMATELY 1.6-1.7 SECONDS BETWEEN THE TWO COMPOUNDS IN SHANGHAI A TWO-STOP RACE LIKELY FOR SUNDAY’S GRAND PRIX The Chinese Grand Prix presented a marked contrast to conditions in Malaysia two weeks ago, with ambient temperatures around 20 degrees centigrade today. In the past, these cool temperatures have often resulted in ‘graining’ – a phenomenon that occurs here when the tread surface cools down on the long straights.
FORMULA ONE HEADS TO CHINA WITH MEDIUM AND SOFT TYRES: THE SAME CHOICE AS THE SEASON-OPENER IN AUSTRALIA ONCE AGAIN, AFTER MALAYSIA, TYRE STRATEGY IS SET TO BE CRUCIAL ALSOIN THE COOLER CONDITIONS OF SHANGHAI VARIABLE WEATHER AND FLOWING CORNERS PERFECTLY SUITED TO THE MOST VERSATILE TYRES IN PIRELLI’S RANGE The Chinese Grand Prix has become well known for providing some exciting races characterised by tyre strategy in recent years. With fast corners, a smooth surface, and plenty of overtaking opportunities, the P Zero White medium and P Zero Yellow soft tyres should be well suited to the conditions, which are generally temperate. Paul Hembery, Pirelli motorsport director: “The weather tends to be quite unpredictable in China, although generally we can expect to see temperatures that are significantly cooler than those we experienced in Malaysia.
The company recalls that on February 12, 2015 it released to the market preliminary data for 2014. The present communique as well as reporting the same economic indicators already announced in February, includes new elements, such as net profit and dividends, approved by today’s meeting of the Board of Directors. TOTAL NET PROFIT: +8.6% TO 332.8 MILLION EURO (306.5 MILLION EURO IN 2013) AFTER VENZUELA IMPACT OF 72 MILLION EURO AND ADJUSTMENT OF THE VALUE OF FINANCIAL SHAREHOLDINGS THE BOARD TO PROPOSE TO SHAREHOLDERS’ MEETING THE DISTRIBUTION OF A DIVIDEND OF 0.367 EURO PER ORDINARY SHARE (0.32 PRIOR YEAR) AND 0.431EURO PER SAVINGS SHARE (0.39 EURO PRIOR YEAR) CONSOLIDATED RESULTS EBIT: +6.8% TO €837.9 MILLION (€784.7 MILLION IN 2013), IN LINE WITH 2014 TARGET OF APPROX.
2015 Malaysian Grand Prix – Race FERRARI CLAIMS FIRST WIN SINCE SPAIN 2013 WITH A TWO-STOP STRATEGY IN EXTREMELY HOT CONDITIONS LIMITED DEGRADATION FROM THE START OF THE WEEKEND ON A TRACK SURFACE HOT ENOUGH TO COOK AN EGG DIFFERENT TACTICS FOR MERCEDES AND SPLIT STRATEGIES FOR HAMILTONAND ROSBERG: ON THE PODIUM FOR THE SECOND TIME THIS YEAR Sepang, March 29, 2015 – Four-time world champion Sebastian Vettel took the first win for Ferrari since Spain in 2013 and his own first victory since Brazil in 2013, using a two-stop strategy in the hottest possible conditions and on very abrasive asphalt to finish in front of both Mercedes drivers. Vettel started on the P Zero White medium tyres and stopped for the mediums again on lap 17, finishing the race on the P Zero Orange hard compound from lap 37.
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.
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
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.