Pirelli & C Spa Azioni (PLLIF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

conference call in which Pirelli top management will present companies full year 2024 preliminary results. A live webcast of the event and the presentation slides are available in the investor relations section of the Pirelli website. I remind you that the Q&A session will follow after the presentation. Now I would like to introduce Mr. Marco Tronchetti-Provera. Please go ahead, sir. Thank you and good evening, ladies and gentlemen. The results for 2024 confirm the resilience of our business model in a challenging external environment. We strengthen our positioning in high value, our main growth driver. The effectiveness of internal levers price mix and efficiencies led to an improvement in profitability, the highest among Tier 1 players. Finally, we reduced debt with a cash generation above the target. Important progress was also made in the sustainability front. The safeguard of health and safety in the workplace and the development of people remain our priorities. We are strongly committed to the development of products and materials with lower environmental impact. And finally, we accelerated the decarbonisation process along the value chain. The results consolidate our leadership within the industry as acknowledged by the most important sustainability indices. For 2025, we confirm the targets of the industrial plan presented in March 2024, despite a more challenging external environment. Our targets do not include the potential application of tariffs in the US, given the uncertainty regarding their amount and timing. We have defined a contingency plan to mitigate this impact, which will allow us to maintain cash generation and the leveraging targets and reaching the low end of the adjusted EBIT guidance range. And now I leave the floor to Mr. Casarucci, please. ...