Operating Income
Operating income rose by 42.7% to euro 581.9 million (10.3% of sales). The following table shows a constant rate of growth in every quarter of the year.
(in millions of euro) | ||||||||||
|
Q1 | Q2 | Q3 | Q4 | TOTAL | |||||
---|---|---|---|---|---|---|---|---|---|---|
2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | |
Net sales | 1,400.9 | 1,135.0 | 1,388.4 | 1,234.0 | 1,476.5 | 1,249.7 | 1,389.0 | 1,229.7 | 5,654.8 | 4,848.4 |
Gross operating profit before restructuring expenses | 203.4 | 141.9 | 207.5 | 163.3 | 220.2 | 174.9 | 203.5 | 173.6 | 834.6 | 653.7 |
% of net sales | 14.5% | 12.5% | 14.9% | 13.2% | 14.9% | 14.0% | 14.7% | 14.1% | 14.8% | 13.5% |
Net operating income (loss) before restructuring expenses | 146.5 | 90.2 | 151.3 | 109.6 | 163.3 | 119.9 | 148.6 | 112.8 | 609.7 | 432.5 |
% of net sales | 10.5% | 7.9% | 10.9% | 8.9% | 11.1% | 9.6% | 10.7% | 9.2% | 10.8% | 8.9% |
Operating income | 143.3 | 87.6 | 146.8 | 104.3 | 161.1 | 115.4 | 130.7 | 100.5 | 581.9 | 407.8 |
% of net sales | 10.2% | 7.7% | 10.6% | 8.5% | 10.9% | 9.2% | 9.4% | 8.2% | 10.3% | 8.4% |
Operating income was impacted by non-recurring charges of euro 27.8 million, including euro 17.9 million in the last quarter. Of this amount, euro 4.9 million resulted from the elimination of goodwill for the Pirelli EcoTechnology anti-particulate filter activities. The remainder for restructuring charges mainly tied to streamlining of business units in Europe. Non-recurring charges in the previous year totalled euro 24.7 million.
- General Information
- Directors' Report
- Macroeconomic and Market Situation
- Significant Events During the Year
- Group Performance and Results
- Business Outlook in 2012
- Operating Performance
- Research and Development Activities
- Highlights of Other Activities
- Parent Highlights
- Risks and Uncertainties
- Significant Events Subsequent to the End of the Year
- Alternative Performance Indicators
- Other Information
- Remuneration Report
- Resolutions
- Consolidated Financial Statements