MILAN, Italy (Feb. 20)—Pirelli & C. S.p.A.'s Tire Business Staff Reported double-digit increases in sales and operating income last year, based on higher unit sales and improved pricing and product mix.
Tire sector sales were up 11.4 percent to $3.35 billion, while operating earnings grew 15 percent to $248.5 million. The earnings/sales ratio improved to 7.4 percent, "thus confirming the focus on high-performance market segments," the firm said.
Overall, Pirelli reported a doubling in operating income to $300 million on sales of $7.55 billion.