Pirelli & C Spa Azioni (PLLIF) Q4 2025 Earnings Call

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WEBVTT 00:00:01.870 -- 00:00:07.119 Ladies and gentlemen, welcome to Pirelli's conference call in which Pirelli Top 00:00:07.119 -- 00:00:11.987 Management will present companies' full year 2025 00:00:11.987 -- 00:00:14.371 preliminary results. 00:00:14.371 -- 00:00:19.740 A live webcast of the event and the presentation slides are available in the investor 00:00:19.740 -- 00:00:23.407 relations section of the Pirelli website. 00:00:23.407 -- 00:00:27.233 I remind you that the Q&A session will follow the presentation. 00:00:27.233 -- 00:00:31.377 Now I would like to introduce Mr. Marco Tronchetti-Provera. 00:00:31.377 -- 00:00:34.358 Please, go ahead, sir. 00:00:34.360 -- 00:00:37.924 Good evening, ladies and gentlemen. 2025 00:00:37.924 -- 00:00:42.949 results mark another milestone in our journey of growth 00:00:42.949 -- 00:00:45.332 and value creation. 00:00:45.332 -- 00:00:48.475 In a highly volatile external environment, 00:00:48.475 -- 00:00:52.858 the group closed the year with outstanding results. 00:00:53.100 -- 00:00:57.582 We fought to improve our positioning in high value, 00:00:57.592 -- 00:01:02.955 Profitability is confirmed as the highest among Tier 1. 00:01:02.957 -- 00:01:08.261 Cash generation was above expectations, enabling us to accelerate the leveraging 00:01:08.261 -- 00:01:09.943 process. 00:01:09.943 -- 00:01:13.886 At the same time, we strengthened our commitment to sustainability, 00:01:13.886 -- 00:01:17.449 the result that reinforced our leadership. 00:01:17.449 -- 00:01:22.353 Pirelli is the only company in the global tire and auto component sector to be included 00:01:22.353 -- 00:01:28.186 in the top 1% of the Standard & Poor's Global Sustainability Yearbook. 00:01:28.186 -- 00:01:33.814 The scenario that we see for 2026 remains chal...