February 26, 2018 / 12:27 PM / 8 months ago

BRIEF-Pirelli & C FY Adj. EBIT Before Start-Up Costs Up 9.7 Pct At EUR 926.6 Mln

Feb 26 (Reuters) - PIRELLI & C SPA:

* FY REVENUE: +7.6% AT 5,352.3 MILLION EURO

* SAYS FY NET PROFIT EUR 176.4 MILLION VERSUS EUR 135.1 MILLION YEAR AGO

* FY ADJUSTED EBIT BEFORE START-UP COSTS: +9.7% TO 926.6 MILLION EURO

* SAYS NET DEBT AT END-2017 AT EUR 3.22 BILLION

* 2018 REVENUES EXPECTED TO GROW BY 6% OR MORE, OR ABOUT +10% EXCLUDING FOREX EFFECTS

* 2018 ADJUSTED EBIT BEFORE NON-RECURRING AND RESTRUCTURING CHARGES AND START-UP COSTS ESTIMATED AT OVER 1 BILLION EURO

* NET FINANCIAL POSITION TO ADJUSTED EBITDA BEFORE ONE-OFF, RESTRUCTURING CHARGES AND START-UP COSTS RATIO AT END 2018 SEEN AT 2.3 TIMES

* 2018 ADJUSTED EBIT BEFORE NON-RECURRING CHARGES FORESEEN AT ABOUT 1 BILLION EURO

* IN LINE WITH WHAT IS ALREADY KNOWN TO THE MARKET, BOARD WILL PROPOSE NO DIVIDEND BE DISTRIBUTED Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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