(Alliance News) - Pirelli & C Spa announced on Thursday that it ended the first quarter of the year with net profit up 23% to EUR156.8 million, compared to EUR127.2 million as of March 31, 2025.
Revenue amounted to EUR1.74 billion, down from EUR1.76 billion in the first quarter of 2025.
Adjusted EBIT as of March 31 stood at EUR277.4 million, compared to EUR279.8 million. Net cash flow before dividends and the consolidation of the Chinese joint venture Xushen Tyre was negative at EUR704.5 million. Adjusted EBITDA rose to EUR404.4 million from EUR399.0 million in the same period of 2025.
The net financial position was negative at EUR2.02 billion, compared to a negative position of EUR2.62 billion as of March 31, 2025, and a negative EUR1.10 billion as of December 31, 2025.
The company stated it has updated its 2026 targets due to the crisis in the Middle East, noting a limited impact 'thanks to mitigation actions'.
Consequently, revenue is expected to range between EUR6.75-6.95 billion, while net cash generation before dividends and the Xushen JV impact was confirmed at EUR500 million. Capital expenditures remain unchanged and are expected to be approximately EUR450 million.
On Thursday, Pirelli & C closed down 0.1% at EUR6.16 per share.
By Claudia Cavaliere, Alliance News reporter
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