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

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to Pirelli's conference call in which Pirelli Top Management will present companies' full year 2025 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 the presentation. Now I would like to introduce Mr. Marco Tronchetti-Provera. Please, go ahead, sir. Good evening, ladies and gentlemen. 2025 results mark another milestone in our journey of growth and value creation. In a highly volatile external environment, the group closed the year with outstanding results. We fought to improve our positioning in high value, Profitability is confirmed as the highest among Tier 1. Cash generation was above expectations, enabling us to accelerate the leveraging process. At the same time, we strengthened our commitment to sustainability, the result that reinforced our leadership. Pirelli is the only company in the global tire and auto component sector to be included in the top 1% of the Standard & Poor's Global Sustainability Yearbook. The scenario that we see for 2026 remains challenging, with geopolitical uncertainties and high microeconomic volatility. In this complex landscape, we see real opportunities for growth that we are ready to capture through a business model that is increasingly data-driven. We aim to consolidate our leadership, improve profitability, deliver a sound cash generation, and ensure a solid shareholder remuneration. And I'll give the floor to Mr. Casalucci, please. Thank you, Mr. Tronchetti, and good evening. Revenues amounted to 6.8 billion euro, with an organic growth of 4.2%, driven by the strengthening of high value, which now accounts for 79% of group sales, plus 3 percentage points y...