Faq
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Business Information
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• What does it mean to be “Pure Consumer focused”?
It means that we develop, manufacture, distribute and sell Tyres only for Cars, Motorcycles and bicycles. Consumer business is less linked to the economic cycle and benefits from a higher profitability.
• In which regions and countries is Pirelli present?
We have an extensive commercial presence, with a network of more than 12,500 points of sale in over 160 countries, and a high level of exposure within the three main markets for High Value Products: Europe, NAFTA and APAC which, as of December 31, 2016, represented 75.2% of our total net sales for the Consumer Business (93% of total High Value net sales).
LatAm, MEAI (Middle East, Africa and India) and Russia & CIS are the remaining Regions which, as of December 31, 2016, represented respectively 16.6%, 5.0% and 3.3% of our total net sales for the Consumer Business.
• Who are Pirelli’s main competitors?
We typically compete within a selected group of tyre manufacturers so called “Tier 1”: these manufacturers are characterized by higher-than-average price points, a wide range of products and dedicated regional lines. This group, which comprises approximately 50% of the tyre industry sales, has six main participants: Pirelli, Bridgestone, Michelin, Continental, Goodyear and Nokian.
• What are High Value products?
The so called High Value products are designed to achieve the highest levels of performance, safety, noise removal and adherence to the road surface, and are characterized by a high-tech component and/or customization.
Our High Value Products are divided into the following categories: Prestige; New Premium; Specialties; Super Specialties and Premium Motorcycle tyres:
- “New Premium”: Tyres with a diameter equal to or greater than 18 inches, which are viewed as High Value Products by consumers primarily because of their size. New Premium tyres represent the substantial majority of our sales of High Value Products;
- “Prestige”: Tyres that are designed and developed in partnership with Prestige manufacturers. In this case, the added value of the product lies in the fact that Prestige tyres are subject to specific approval, and in most cases, to original marking. Prestige tyres are primarily, but not exclusively, of a diameter greater than 18 inches, and as such also belong to the New Premium tyre category;
- “Specialties” and “Super Specialties”: High-tech tyres for cars of every class, which meet the needs of specific applications (such as Runflat) or customizations (e.g. “Color Edition” tyres) of the end consumer and are seen by the consumer as High Value Products. In most cases, Specialties and Super Specialties tyres have a diameter greater than 18 inches (falling within the New Premium tyre segment) and are sometimes designed and developed in partnership with car manufacturers of Prestige cars (falling within the segment of Prestige tyres).
- “Premium Motorcycle”: Radial tyre equipment for all segment (including scooter products), products with a speed index greater than or equal to H (corresponding to a speed of 210km/h), tyres for off-road use (enduro and motocross) and tyres for the custom cruiser sector.• What are New Premium Tyres and what is the difference with Premium Tyres?
“New Premium” includes tyres with a diameter equal to or greater than 18 inches, “Premium”, which was the old categorization, included tyres with a diameter equal to or greater than 17 inches.
• What is a Homologation and why is it important for the business?
The Homologation is Certification issued by the maker of a specific vehicle that attests that a specific tyre complies with the technical characteristics approved by the maker.
Obtaining homologations also allows the tyre to be sold as an original spare part in the replacement, strengthening our competitiveness in this market thanks to a greater customer loyalty, as customers frequently prefer to keep the same tyres as they had for their Original Equipment.
Homologations are key to sustain our partnerships with car manufacturers. These close relationships provide us visibility in advance on future O.E. channel demand and support product innovation and co-development of cutting edge technology.
• What is the difference between Replacement and OE channels?
We manufacture tyres for both Original Equipment Manufacturers of cars and motorcycles for use on their newly produced vehicles, which represented 25.5% and 25.7% of our net sales attributable to the Consumer Business for the six months ended June 30, 2017 and the year ended December 31, 2016, respectively (“Original Equipment”), and as replacement parts for vehicles already in circulation in need of replacements due to use or changes in seasons, which represented 74.5% 74.3% of our net sales attributable to the Consumer Business for the six months ended June 30, 2017 and the year ended December 31, 2016, respectively) (“Replacement”).
• What is the pull-through effect?
The propensity of consumers to keep the same product as provided in the original equipment when replacing a tyre.
• What is Pirelli doing regarding future mobility trends such as connected, autonomous, shared & electric cars?
In the short term, connectivity and electric vehicles offer upside to Tier 1 players and Pirelli is actively working to capitalize on the opportunities provided by these megatrends. Regarding connectivity, Pirelli has recently launched the Connesso Platform for the Replacement market. With regards to electrification, we are collaborating with several OEMs on the development of tyres specifically adapted to EVs, for example those with Ultra low rolling resistance. Shared and Autonomous will impact more on the long term, but we are already developing specific solutions to meet shared mobility and autonomous driving needs.
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Company Information
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• How can I obtain information on Pirelli’s results?
Pirelli's main financial results can be found in the Key Financials section of our website or, more in detail, in the Financial publication section Key dates can be found in the Events section.
• When will the next financial report be published?
Please refer to Events section of our website for key dates.
• Where can I download a copy of the company prospectus?
All IPO documentation can be found in the IPO Documentation section of our website, and also on Borsa Italiana and Consob websites www.borsaitaliana.it - www.consob.it
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Stock information
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• How can I buy Pirelli shares?
The Pirelli shares are traded in the “Mercato Telematico Azionario” (MTA) organized and managed by Borsa Italiana S.p.A. and can be bought through your bank.
• When were Pirelli shares first listed on the stock market?
The Starting Date of Negotiations on the stock market was the 4th of October, 2017.
• On what stock market are Pirelli shares traded?
Pirelli shares are traded in the “Mercato Telematico Azionario” (MTA) organized and managed by Borsa Italiana S.p.A.
• What are Pirelli’s share codes?
Stock ISIN code is IT0005278236. Stock ticker is PIRC
• Where can I find information on Pirelli’s stock price?
You can find interactive information on Pirelli’s stock price in our Share Performance Tool section of the website
• Who are the main comparable companies to be considered?
Among listed corporations, Pirelli deems a panel of European companies to be a fitting comparison, given the exposure of its business, and in particular its High Value business, to such Region and its co-operation with the major European Premium and Prestige car makers.
On this basis, five comparable companies were identified and broken down in the following categories:
o Consumer Tyre producers (Nokian),
o Luxury Automotive Brand (Brembo and Ferrari), and
o Full-Liner Tyre producers (Continental and Michelin).
• Can you provide information on Pirelli’s Share Ownership Breakdown?
You can find detailed information on Pirelli’s Share Ownership Breakdown in the Shareholder Information section of our website.
• What proportion of Pirelli’s share capital is made up of floating shares?
Between 35% and 40% of total share capital. You can find detailed information on Pirelli’s Share Capital in the Shareholder Information section of our website.
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Annual General Meeting
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• How can I receive information on the dates of the AGM?
Every year, the company discloses the date of the General Meeting and in addition to the Notice of Call, it provides information on the Group financial calendar, in the Events page of our Web site.
• How can I attend the AGM?
To attend and vote in the General Meeting, you need to ask the authorised trader, bank or investment firm where your Pirelli shares are deposited, to inform the Company of your participation in the Meeting.
Such information is given on the basis of the shares that are confirmed to be deposited at the close of the seventh open market day before the date set for the Meeting, the so-called record date. The market calendar can be consulted in Borsa Italiana Web site www.borsaitaliana.com.
• How can I vote at the AGM?
Shareholders may attend the AGM in person or be represented by proxy, pursuant to the rules and regulations in force.
The proxy may also be given to the representative designated by the Company and written down in the Notice of Call. In this case, the proxy should include voting instructions on all or some of the Agenda items and be delivered to the above mentioned representative before the close of the second open market day before the Meeting date.
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