Professional
Added to YB: 2026-06-08
Pitch date: 2026-06-04
PIRC.MI [neutral]
Pirelli & C. S.p.A.
-1.23%
current return
Author Info
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Company Info
Pirelli & C. S.p.A., through its subsidiaries, manufactures and sells tires for cars, motorcycles, and bicycles in Europe, North America, the Asia-Pacific, South America, Russia, India, the Middle East, and Africa.
Market Cap
EUR 6.5B
Pitch Price
EUR 6.08
Price Target
N/A
Dividend
4.00%
EV/EBITDA
5.98
P/E
11.78
EV/Sales
1.28
Sector
Automobile Components
Category
special_situation
We Believe Pirelli’s Secret Dependence and Close Relationships with Russia Pose a Threat to Western National Security
PIRC.MI (short): Grizzly short thesis: Italian tiremaker hides true Russia exposure—Russian filings show ~10% of net profit (vs disclosed 6% MEA/India rev). Only Western tiremaker still in Russia post-invasion; €470M invested, harsh 60% exit discount. Kirov plant shares infrastructure w/Rostec military tire factory (nuclear launcher tires), apparent EU sanctions violations via Donetsk dealer. Reputational/security risk.
Read full article (15 min)