Pirelli Posts 13.3% Rise In 1h Net Profit As High Value Strategy Underpins Performance
- By Sharad Matade
- August 05, 2026
Pirelli reported a 13.3 percent increase in first-half net profit as the premium tyre maker benefited from continued growth in its High Value business, despite persistent geopolitical uncertainty and a volatile economic environment.
Net profit for the six months ended 30TH June rose to EURO 299 million from EURO 264 million a year earlier, supported in part by lower financial charges. Revenue was broadly unchanged at EURO 3.49 billion, although organic revenue increased 2.5 percent after excluding the effects of foreign exchange movements, hyperinflation accounting and changes in the scope of consolidation.
Adjusted earnings before interest and tax (EBIT) were EURO 557.8 million, broadly unchanged from €558.3m a year earlier, while the adjusted EBIT margin remained stable at 16 per cent.
High Value products accounted for 82 percent of total sales, up from 80 per cent in the first half of 2025, reflecting the company's continued focus on premium and prestige segments.
The company generated a net cash outflow before dividends and the consolidation of Xushen Tyre of EURO 556.9 million, compared with EURO 547.1 million in the corresponding period of 2025, excluding the positive impact from the disposal of Däckia AB. Net financial debt stood at EURO 1.92 billion at the end of June.
Pirelli confirmed the financial targets announced in May.
Second-quarter revenue increased 1 percent year on year to EURO 1.76 billion. Organic growth was 1.4 percent after excluding the effects of foreign exchange, hyperinflation and changes in the scope of consolidation.
Second-quarter adjusted EBIT rose 0.7 percent to EURO 280.4 million, while the adjusted EBIT margin remained unchanged at 16 percent. Net profit increased 3.9 percent to EURO 142.2 million.
The board approved the half-year results, although directors Zhang Haitao, Xi Xiaohong and Wang Kun voted against the financial statements because of the declaration of control by MTP Spa contained in the financial report.
Pirelli said its first-half performance demonstrated the resilience of its business model and the effective execution of its strategic programmes despite continuing geopolitical tensions and economic volatility.
The company's commercial strategy continued to focus on High Value products. Car and motorcycle volumes in the segment increased 3.5 percent during the first half, supported by growth in both the original equipment and replacement channels. The company cited partnerships with leading vehicle manufacturers in North America and Asia-Pacific, alongside continued consumer demand for its premium products.
By contrast, Standard segment volumes fell 8 per cent as Pirelli continued to reduce exposure to lower-margin markets, particularly in South America. Overall tyre volumes remained broadly stable during the period.
Pirelli also strengthened its innovation programme by securing about 200 new homologations with premium and prestige vehicle manufacturers during the first six months of the year. Around 90 percent were for tyres of 19 inches and above, while 70 percent related to speciality products. Electric vehicles accounted for 60 percent of the new homologations.
Among the latest vehicle programmes were approvals for the Ferrari Luce, Rivian R2S and the new Audi Q7 and Q9 sport utility vehicles.
The company also expanded its product portfolio with the launch of the Scorpion AS 4 for the North American replacement market, the Metzeler Sportec 01 RS motorcycle tyre and the Cinturato Gravel RH and RM cycling tyres.
Development of the Cyber Tyre platform also continued through partnerships with connectivity and autonomous driving specialists including Univrses, RideSense and Niulinx.
Pirelli said its efficiency programme generated gross benefits of EURO 81 million during the first half, representing about 54 percent of its annual target. The gains were driven by product design improvements and higher industrial productivity.
The company added that it had introduced mitigation measures, including price increases and additional cost controls, to offset higher raw material, energy and transport costs resulting from the Middle East crisis.
Bridgestone Appoints Stefano Sanchini As President Of Europe Sales
- By TT News
- September 19, 2026
Bridgestone has announced a European leadership appointment aimed at sharpening customer focus, streamlining engagement across product groups and supporting its ongoing growth plans. Stefano Sanchini will become President, Europe Sales, effective 1 October 2026, leading the company’s European sales organisation across both Consumer and Commercial segments.
The expanded role unites sales activities spanning passenger car, truck and bus, agriculture, off-the-road, motorcycle and original equipment. Sanchini brings over 20 years of international leadership experience in the automotive and tyre sectors, with a career covering Europe, Middle East, Africa and India. Since joining Bridgestone in 2017, he has held several senior positions, including Managing Director of Bridgestone India.
Most recently, as Vice President for Consumer Replacement in Europe, he helped strengthen customer engagement, commercial performance, profitability and regional market growth. Bridgestone said the appointment underscores its commitment to customer relationships, commercial execution and simpler cross-market operations. Sanchini will pursue sustainable growth while developing capabilities and partnerships supporting the company’s long-term European strategy.
Mete Ekin, Group President EMEA, said, "Our customers increasingly operate across multiple product categories and expect a consistent experience wherever they engage with Bridgestone. By bringing our sales activities together under one European structure, we are creating a simpler, more connected organisation that will help us respond faster, collaborate more effectively and continue building strong partnerships with our customers."
Yokohama Europe Appoints Giuseppe La Iacona To Lead Southern Operations
- By TT News
- September 18, 2026
Yokohama Europe has appointed Giuseppe La Iacona to a series of senior leadership roles as the company seeks to strengthen its position across the region.
La Iacona joined the business on September 15 and will assume responsibility for supporting growth and organisational consolidation in the European market.
He brings more than 20 years’ experience in the tyre industry, spanning sales, marketing, business development, country management and international customer relations. He has held senior roles across several European markets, developing experience in managing local dynamics while driving cross-border business expansion.
Reporting to Takashi Maki, La Iacona has been appointed General Manager for southern Europe, where he will lead a newly created regional cluster covering Italy and France. The role is intended to improve coordination and operational synergies between the two markets.
He will also serve as Chief Executive of Yokohama Italia, with overall responsibility for the Italian subsidiary, alongside taking on the role of head of international customers. In that capacity, he will oversee the management and development of clients operating across multiple European markets, with the aim of creating a more consistent commercial approach and strengthening collaboration between subsidiaries.
His remit includes improving organisational alignment and fostering closer cooperation between markets and customers as the company expands its European operations.
“I am very pleased to welcome Giuseppe to YOKOHAMA Europe at an important stage in our development,” said Maki. “His extensive international experience, deep knowledge of the tyre industry and ability to work across different markets will be valuable assets as we continue to strengthen our European organisation and pursue sustainable growth.”
La Iacona said: “I am excited to join YOKOHAMA Europe and to contribute to the company’s next phase of growth in Europe. YOKOHAMA has a strong heritage, a distinctive brand and significant opportunities across the European market. I look forward to working closely with our teams, customers and partners across countries to further develop the business and strengthen our presence in the region.”
Özka Tyre Appoints Mehmet Yüksel As New Chief Operating Officer
- By TT News
- September 18, 2026
Özka Tyre, a prominent Turkish manufacturer of tyres for agricultural and construction equipment, has reinforced its leadership team as part of a broader push towards global expansion and technological modernisation in production. The company has appointed Mehmet Yüksel as its new Chief Operating Officer, bringing aboard an executive with extensive senior experience from Goodyear’s Luxembourg-based international organisation.
In his new role, Yüksel will oversee functions central to Özka’s production and operational strength. His responsibilities encompass production, quality, research and development, planning, investment and projects, electricity and maintenance, occupational safety and quality management systems, positioning him to steer critical areas of the company’s industrial performance.
Driven by investments and a focus on advancing its manufacturing strength, Özka continuously monitors shifts in the worldwide tire sector, particularly technological progress in Europe, and uses those insights to shape its future production infrastructure. As new investments prepare to elevate its output capacity and technical systems, the firm is simultaneously bolstering its organisational framework to sustain that transformation.
Cabot Names Steve Delahunt As Interim CFO
- By TT News
- September 16, 2026
Cabot Corporation has named Steve Delahunt, currently Vice President and Corporate Treasurer, to assume the Chief Financial Officer role on an interim basis starting 1 October 2026. He will hold the position while Cabot continues searching for a permanent finance chief.
The interim appointment follows the previously disclosed leadership transition in which Erica McLaughlin, Executive Vice President, Chief Financial Officer and Head of Corporate Strategy, will become President and Chief Executive Officer on the same date. McLaughlin succeeds Sean Keohane and will relinquish her CFO duties at that time.
Delahunt brings over three decades of finance and treasury experience, including nine years leading Cabot's investor relations function through January 2026. As Corporate Treasurer, he oversees global treasury operations, capital markets strategy, liquidity management, banking relationships, risk management and pension investments. He has been central to Cabot's capital allocation, financing, investor engagement and strategic growth initiatives, as well as strengthened shareholder relations during his investor relations tenure.
McLaughlin said, “Steve is a highly respected finance leader with deep knowledge of our business, strong relationships across our global organisation and a proven track record of disciplined financial leadership. As we continue executing our strategy and building on our strong financial position, Steve’s experience, judgment and understanding of our business make him exceptionally well suited to lead our finance organisation while the Company conducts its search for our next Chief Financial Officer.”
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