Pirelli & C Spa Azioni (PLLIF) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.256 Good evening, ladies and gentlemen. The results for the first 00:00:05.256 -- 00:00:11.121 half of 2025 once again confirm the resilience of our business model, 00:00:11.121 -- 00:00:17.387 which continues to generate value in a complex and challenging external environment. 00:00:17.387 -- 00:00:22.932 We close the semester with strong results expected higher than our peers. 00:00:22.932 -- 00:00:28.655 We stand out for organic growth of... Grazie, 00:00:28.777 -- 00:00:34.039 ragazzi. It's okay? Organic growth of 4.4%, 00:00:34.102 -- 00:00:37.287 driven by solid commercial performance. 00:00:37.287 -- 00:00:42.495 Improved profitability thanks to the effectiveness of internal levers, which 00:00:42.495 -- 00:00:47.462 more than offset the negative impacts of the external environment. 00:00:47.462 -- 00:00:53.171 Solid cash generation, supported by the operational performance and disciplined 00:00:53.171 -- 00:00:56.192 working capital management. 00:00:56.255 -- 00:01:01.258 And finally, significant progress in sustainability a core element of 00:01:01.258 -- 00:01:03.040 our strategy. 00:01:03.040 -- 00:01:08.885 Geopolitical and trade tensions continue to wait on the outlook for 2025. 00:01:09.307 -- 00:01:14.673 Recent estimates point to a slowdown in global economic growth, 00:01:14.673 -- 00:01:18.497 which is even more pronounced in the United States. 00:01:18.497 -- 00:01:23.701 In addition, global inflation of 3.2% and 2.7% 00:01:24.884 -- 00:01:27.187 in the United States. 00:01:27.187 -- 00:01:31.955 High volatility is expected in exchange rates, concerns about U.S. 00:01:31.955 -- 00:01:37.223 economic outlook, uncertainties about Fed policies 00:01:37.223 -- 00:01:42.330 and high U.S. public debt pushed the dollar to ...