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DATAHIGHLIGHTS

Historic trend

	2011	2010	2009 :	2008	2007
(in millions of euro)
GROUP INCOME STATEMENT
Net sales	5,655	4,848	4,067	4,660	6,076
Net sales (excluding DGAG - PRE) *				4,660	4,780
Gross operating profit	807	629	453	252	573
% of net sales	14.3%	13.0%	11.1%	5.4%	9.4%
Operating income	582	408	250	43	364
% of net sales - ROS	10.3%	8.4%	6.1%	0.9%	6.0%
Net income (loss) from continuing operations	313	228	77
Net income (loss) from discontinued operations	-	(224)	(100)
Prior period deferred tax assets - Italy	128	-	-
Total net income (loss)	441	4	(23)	(413)	324
Net income attributable to owners of Pirelli & C. S.p.A.	452	22	23	(348)	165
Total net earnings (losses) per share attributable to owners of Pirelli & C. S.p.A. (in euro)	0.926	0.045	0.047 °°	(0.065)	0.031

TYRE INCOME STATEMENT
Net sales	5,602	4,772	3,993	4,100	4,162
Gross operating profit	858	661	501	341	549
% of net sales	15.3%	13.9%	12.5%	8.3%	13.2%
Operating income	644	453	309	151	358
% of net sales - ROS	11.5%	9.5%	7.7%	3.7%	8.6%

GROUP BAlANCE SHEET
Non-current assets	3,558	3,164	3,596	3,665	3,815
Net working capital	399	303	427	600	551
% of net sales	7.1%	6.2%	10.5%	12.9%	11.5%
Total net working capital	155	117	222	418	298
% of net sales	2.7%	2.4%	5.5%	9.0%	6.2%
Net invested capital	3,713	3,281	3,818	4,083	4,113
Equity	2,192	2,028	2,495	2,374	3,804
Provisions	784	797	795	681	611
Net financial (liquidity)/debt position	737	456	529	1,028	(302)
Equity attributable to owners of Pirelli & C. S.p.A.	2,146	1,991	2,175	2,172	2,980
Equity per share attributable to owners of Pirelli & C. S.p.A. (in euro)	4.40	4.08	4.46°°	0.40	0.56

OTHER GROUP INFORMATION
Net operating cash flow	156	310	496	(147)	299
Depreciation and amortization	221	217	198	199	214
Capital expenditure - tangible	618	433	225	311	287
Capital expenditure/depreciation	2.80	2.00	1.14	1.56	1.34
Research and development expenses	170	150	137	156	173
% of net sales	3.0%	3.1%	3.4%	3.3%	3.6%
Headcount (at 12/31)	34,259	29,573	29,570	31,056	30,823
of whom temporary workers	2,649	2,426	2,245	2,913	3,642
Sales * per employee (in thousands of euro)	181	160	138	148	155
Operating income/Net invested capital ** - ROI	16.64%	11.49%	6.33%	1.05%	6.33%
Net income (loss)/Equity ** - ROE	20.89%	0.18%	(0.94%)	(13.37%)	7.63%
Net financial position/Equity - Gearing	0.34	0.22	0.21	0.43	n.s.

: Comparative income statement figures for 2009 related to Pirelli Real Estate and Pirelli Broadband Solutions business units, discontinued in 2010, have been reclassified to “net income (loss) from discontinued operations” °° 2009 per share figures have been reclassified on a comparable basis after the reverse stock split pursuant to the Shareholders’ Meeting resolution of July 15, 2010 * Excluding net sales for deconsolidation of DGAG real estate assets ** Average amounts

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