Pirelli Reports Modest Sales Growth In Q4

(RTTNews) - Italian tire company Pirelli on Thursday reported fourth-quarter sales of 1.49 billion euros, a marginal increase from 1.47 billion euros last year.

On an organic basis, sales for the quarter were up 4.1%.

The company's EBITDA for the quarter was 300 million euros, up 4.2% from 288.2 million euros a year ago.

EBIT for the quarter was 208 million euros, an increase of 0.9% from 206.5 million euros in the prior year.

For the full year 2014, Pirelli reported sales of 6.02 billion euros, compared with 6.06 billion euros last year.

EBITDA for the year before restructuring costs was 1.17 billion euros, an increase of 6.7% from 1.01 billion euros last year, the company said.

EBIT before restructuring costs was 869 million euros, an increase of 7.3% from 810.2 million euros last year.

For the full year 2015, Pirelli expects sales of about 6.4 billion euros, and EBIT at about 930 million euro after non-recurring and restructuring charges.