LONDON (dpa-AFX) - Pirelli reported that its preliminary net profit for the fourth-quarter declined to 60.5 million euros from 72 million euros in fourth quarter 2019.
Adjusted EBIT was 220.8 million euros compared to 232.3 million euros in the prior year.
Quarterly revenues were 1.21 billion euros, with an organic variation of 1.7% compared with the prior year.
Looking ahead for 2021, the company expects revenues to be about 4.7 billion euros - 4.8 billion euros compared to about 4.3 billion euros in 2020.
In 2021, the global car tyre market is expected to grow by 'high single digit' levels. 'Double digit' growth is seen for Car ?18' market which in 2021 will return to 2019 levels.
The company said it will provide more details of the 2021 outlook during the Investor Day presentations on 31 March 2021.
Copyright RTT News/dpa-AFX