peers & marketspirelli on the stock market - ytd weekly performance consensus target price:...
TRANSCRIPT
PEERS & MARKETS
October 08-12, 2012
€78.3
$12.3
¥1,730
€34.1 +36.9%
₩49,600 +2.1%
12/10/2012 €8.69 +33.7%
12/10/2012
12/10/2012
12/10/2012
12/10/2012
12/10/2012
12/10/2012
-2.5%
-0.8%
+62.8% -2.0%
€65.1 +42.5%
-13.3%
-0.9% -3.4%
-1.3%
-3.6%
+3.8%
Pirelli Investor Relations - 15.10.2012
Source: Reuters
FTSE Mib +2.8% -2.3%
Pirelli +33.7% -2,5%
2
Pirelli on the Stock Market YTD Weekly
Performance
Consensus Target Price: €10.4
Buy: 70%
% Sell: 4%
% Hold: 26%
Market Cap: €4,161.8 mln (of which ord. € 4,093.7 mln)
PIRELLI & C. VS FTSE MIB - Trend from January, 1 to October, 12 2012
Sell side analysts evaluation on Pirelli & C (15/10/2012)
30-D
ec
6-J
an
13-J
an
20-J
an
27-J
an
3-F
eb
10-F
eb
17-F
eb
24-F
eb
2-M
ar
9-M
ar
16-M
ar
23-M
ar
30-M
ar
6-A
pr
13-A
pr
20-A
pr
27-A
pr
4-M
ay
11-M
ay
18-M
ay
25-M
ay
1-J
un
8-J
un
15-J
un
22-J
un
29-J
un
6-J
ul
13-J
ul
20-J
ul
27-J
ul
3-A
ug
10-A
ug
17-A
ug
24-A
ug
31-A
ug
7-S
ep
14-S
ep
21-S
ep
28-S
ep
5-O
ct
12-O
ct
Pirelli Investor Relations - 15.10.2012
Source: Reuters
Markets
3
Pirelli Investor Relations - 15.10.2012
DJ STOXX AUTO & PARTS: -2.4%
EUROPE: WEEKLY TREND 08/10/2012 – 12/10/2012 TYRES & AUTO STOCKS vs DJ STOXX AUTO & PARTS
Source: Reuters
TYRE
Pirelli & C. vs Auto & Parts Sector
AUTO
Pirelli & C Continental Michelin Nokian Fiat Auto Fiat
Industrial Renault Peugeot Volkswagen BMW Daimler
4
-0.1 pp
+0.4 pp +1.1 pp +1.6 pp
-1.7 pp
+0.8 pp
-4.2 pp -1.7 pp
+1.0 pp +1.4 pp
-0.7 pp
Pirelli Investor Relations - 15.10.2012
Pirelli vs FTSE Mib relative performance (YTD)
5
2011 FY Relative performance:
FTSE Mib (YTD): +2.8%
Performance from January 1 to October 12, 2012
-48.1
pp
-41
.5p
p
-33.6
pp
-21.4
pp
-20.8
pp
-13.0
pp
-12.3
pp
-11.5
pp
-6.8
pp
-6.3
pp
-4.9
pp
-2.5
pp
-1.9
pp
-1.1
pp
-1.0
pp
-0.9
pp
0.9
pp
4.4
pp
4.7
pp
5.2
pp
7.4
pp
15.9
pp
16.4
pp
18.1
pp
20.3
pp
20.4
pp
27
.7p
p
27
.7p
p
28.5
pp
30.6
pp
30.9
pp
34.1
pp
36.2
pp
36.8
pp
39.2
pp
43.6
pp
45.6
pp
48.4
pp
48.5
pp
64.8
pp
A2A
Fondia
ria-S
ai
Media
set
Unic
redit
Enel G
reen
Bm
ps
Enel
Tele
com
Medio
banca
Ubi banca
Inte
sa S
P
Auto
grill
Genera
li
Stm
Snam
rete
Ansald
o
Atlantia
Saip
em
Tenaris
Eni
Tern
a
Fia
t
Medio
lanum
Fia
t A
uto
Banco
Cam
pari
Parm
ala
t
Exor
Luxottic
a
Buzzi
Pirelli
Impre
gilo
BP
M
TO
D'S
Dia
sorin
Fin
meccani
Lottom
atica
Pry
sm
ian
Azim
ut
Ferr
agam
o
-4.2pp
-57.7pp
-27.6pp
-33.3pp
+27.3pp
-39.8pp
+9.3pp
+11.1pp
-8.0pp
-23.2pp
+26.1pp
-3.5pp
+7.0pp
-16.2pp
+16.8pp
+5.2pp
+10.3pp
+14.4pp
+4.3pp
+23.2pp
+7.6pp
+18.1pp
+25.1pp
-21.8pp
+24.9pp
+22.9pp
+22.3pp
+22.0pp
+23.8pp
+18.7pp
+32.7pp
+23.4pp
+25.3pp
+21.5pp
+25.8pp
-41.2pp
+52.9pp
+0.5pp
+26.3pp
+19.9pp
Pirelli Investor Relations - 15.10.2012
CONSENSUS PEERS TYRE MARKET MULTIPLES AT 15/10/2012 Source: Pirelli IR analysis on Bloomberg data
Tyre Sector evaluation Multiples
6