Pirelli and C. S.p.a

F:2PI

Solid first half: Pirelli said first-half 2026 results were solid, with revenue of about EUR 3.5 billion, adjusted EBIT of EUR 558 million and a 16% margin, while net profit rose 13% year on year.

High-value strength: Management said the company kept gaining share in the high-value segment, which now represents 82% of group sales, while continuing to reduce exposure to lower-margin standard tires.

Outlook confirmed: Despite a more volatile macro backdrop, including Middle East tensions, higher energy costs and weaker demand in parts of the market, Pirelli confirmed its full-year targets for revenue growth, profitability and cash generation.

Guidance updated: Full-year revenue guidance was kept at EUR 6.75 billion to EUR 6.95 billion, but the demand outlook was cut for car tires, standard tires and original equipment, while foreign exchange headwinds were revised to be less severe.

Cash and costs: Management said cash generation remains on plan, raw materials should turn into a roughly EUR 70 million headwind in the second half, and full-year efficiencies plus mitigation measures should more than offset inflation.

U.S. strategy: Pirelli said there is no change in strategy around its planned U.S. investment; the project is meant to support local high-value growth and could add around 6 million tires of capacity.

Cyber Tyre progress: Management said Cyber Tyre continues to gain traction, with more interest from premium and prestige carmakers and further agreements expected, possibly as early as the last quarter of the year.