peers & markets · 2013-03-21 · 18.03.2013 - pirelli investor relations, competitive and...
TRANSCRIPT
PEERS & MARKETS
March 11 – 15, 2013
€
$
¥
€
₩
15/03/2013 €
15/03/2013
15/03/2013
15/03/2013
15/03/2013
15/03/2013
15/03/2013
€
Tyre
8.39 -4.6% -3.1%
35.29 +0.6% +17.2%
48,900 -0.2% +4.0%
96.68 -1.2%
67.89 -5.2%
13.73
3,335 +2.0% +50.0%
+10.4%
+0.1%
+5.0% -0.6%
18.03.2013 - Pirelli Investor Relations, Competitive and Business Insight
Source: Reuters
FTSE Mib -1.3% -0.9%
Pirelli -3.1% -4.6%
2
Pirelli on the Stock Market YTD
Performance
Consensus Target Price: €9.4
% Buy: 39%
% Sell: 35%
% Hold: 26%
Market Cap: €4,084.9 mln (of which ord. €4,008.1 mln)
PIRELLI & C. VS FTSE MIB - Trend from January 1, 2013 to March 15, 2013
Sell side analysts evaluation on Pirelli & C (18/03/2013)
weekly
Stoxx A&P +5.4% -1.6%
Mar
1-J
an
3-J
an
5-J
an
7-J
an
9-J
an
11-J
an
13-J
an
15-J
an
17-J
an
19-J
an
21-J
an
23-J
an
25-J
an
27-J
an
29-J
an
31-J
an
2-F
eb
4-F
eb
6-F
eb
8-F
eb
10-F
eb
12-F
eb
14-F
eb
16-F
eb
18-F
eb
20-F
eb
22-F
eb
24-F
eb
26-F
eb
28-F
eb
2-M
ar
4-M
ar
6-M
ar
8-M
ar
10-M
ar
12-M
ar
15-M
ar
Mar, Mar,
18.03.2013 - Pirelli Investor Relations, Competitive and Business Insight
3
Markets
Source: Reuters
Mar, Mar,
0,6 2,7 10,4 6,5 9,4
18.03.2013 - Pirelli Investor Relations, Competitive and Business Insight
4
Pirelli & C. vs Auto & Parts Sector
DJ STOXX AUTO & PARTS: -1.6%
EUROPE: WEEKLY TREND 11/03/2013 – 15/03/2013 TYRES & AUTO STOCKS vs DJ STOXX AUTO & PARTS
Source: Reuters
TYRE AUTO
Pirelli & C Continental Michelin Nokian Fiat Auto Renault Peugeot Volkswagen BMW Daimler
Fiat
Industrial
-3.0 pp
+0.4 pp +1.7 pp +2.2 pp +3.0 pp
-3.5 pp -1.6 pp
+0.5 pp
-3.7 pp -2.0 pp
+2.6 pp
18.03.2013 - Pirelli Investor Relations, Competitive and Business Insight
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Pirelli & C. vs FTSE Mib relative performance (YTD
2012 FY Relative performance:
FTSE Mib (YTD): -1.3%
Performance from January 1 to March 15, 2013
-15
.3p
p
-15
.2p
p
-10
.8p
p
-10
.1p
p
-9.2
pp
-8.1
pp
-7.9
pp
-7.6
pp
-5.3
pp
-4.5
pp
-4.p
p
-2.2
pp
-1.8
pp
-0.5
pp
0.7
pp
0.7
pp
2.0
pp
3.5
pp
4.6
pp
4.9
pp
6.1
pp
6.2
pp
6.4
pp
6.4
pp
7.5
pp
8.6
pp
9.4
pp
10
.1p
p
10
.8p
p
14
.3p
p
15
.3p
p
18
.4p
p
18
.8p
p
19
.pp
19
.7p
p
21
.9p
p
22
.9p
p
26
.2p
p
29
.7p
p
40
.6p
p
En
el
Sa
ipe
m
Dia
so
rin
Ba
nco
Atla
ntia
Ubi
Te
leco
m
Fin
me
cca
Bm
ps
Ge
ne
rali
Inte
sa
SP
Me
dio
ba
n
Pir
elli
An
sa
ldo
Me
dia
se
t
En
i
Te
na
ris
Ca
mp
ari
Unic
red
it
Sn
am
BP
M
A2
A
En
el
Te
rna
Fia
t
Pa
rma
lat
Lo
tto
ma
ti
Au
tog
rill
Stm
Imp
reg
ilo
Bu
zzi
Exo
r
Pry
sm
ian
TO
D'S
Fia
t A
uto
Azim
ut
Me
dio
lan
Lu
xo
ttic
a
Fe
rra
ga
m
Fo
nS
ai
-8.0pp
-18.7pp
+47.5pp
+18.0pp
+8.2pp
+2.9pp
-25.7pp
+44.4pp
-18.2pp
+10.3pp
-6.5pp
-3.0pp
+25.2pp
+1.7pp
-35.1pp
+6.7pp
+1.8pp
+4.9pp
-20.2pp
-4.7pp
+39.6pp
-50.1pp
-22.7pp
+4.6pp
+7.9pp
+20.6pp
+39.2pp
+5.4pp
+3.4pp
+37.3pp
+48.1pp
+10.5pp
+41.2pp
+38.3pp
-6.9pp
+67.3pp
+19.6pp
+35.3pp
+46.9pp
-61.3pp
18.03.2013 - Pirelli Investor Relations, Competitive and Business Insight
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Tyre Sector Evaluation Multiples CONSENSUS PEERS TYRE MARKET MULTIPLES AT 18/03/2013 Source: Pirelli IR analysis on Bloomberg data