|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||4.5020 - 4.6820|
|52 Week Range||3.9000 - 6.7300|
|Beta (5Y Monthly)||1.33|
|PE Ratio (TTM)||15.95|
|Forward Dividend & Yield||0.08 (1.72%)|
|Ex-Dividend Date||Jun 21, 2021|
|1y Target Est||N/A|
MILAN (Reuters) -Pirelli said on Tuesday it had sought alternative suppliers, increased stocks and shifted production since March to mitigate the impact of Russia's invasion of Ukraine. Russia, where the Italian tyremaker operates two plants, accounts for around 3% of Pirelli's revenues and around 11% of its total car tyre capacity, especially in the standard segment, with about half of that intended for export. Pirelli, which on Tuesday said its operating profit grew 35% in the first quarter, said previously it had halted investments in Russia, excluding those linked to security, and activities at its plants were being progressively limited and set just for the local market.
German car parts supplier Continental AG has temporarily resumed tyre production for passenger cars at its Russian plant in Kaluga, it said on Tuesday, to protect local workers who could otherwise face criminal charges. Continental said the move was aimed at meeting local demand and in line with sanctions imposed on Moscow for its invasion of Ukraine, which Russia calls a "special military operation". "Our employees and managers in Russia face severe criminal consequences should we refrain from serving local demand," said Continental, adding that its products were made for civilian use as a matter of principle.
Italy's Pirelli said on Thursday it had halted investments in Russia, excluding those linked to security, and that the activity of its factories in the country would be curtailed. "Pirelli is against this war... The investments in the local market, excluding those linked to security, have been halted," the tyremaker said in a statement with its annual financial results. It added that "activities of the factories in Russia will be progressively limited to those needed to guarantee the financing of salaries and social services for employees."