Price sensitive
CAPITAL STRENGTHENING COMPLETED THANKS TO SUCCESS OF CAPITALINCREASE AND MEDIUM-TERM EXTENSION OF BANK DEBT, WITH AGREEMENTFOR A 3 YEAR CREDIT FACILITY FOR €320 MILLION TAKING TOTAL COMMITTEDBANK LINES TO €470 MILLIONPIRELLI RE: FIGURES AT JUNE 30TH, 2009 APPROVED
SECOND QUARTER CLOSES WITH EBIT, INCLUDING NET INCOME FROMINVESTMENTS, UP ON FIRST QUARTER
FIRST-HALF RESULTS FROM SERVICES ARE CLOSE TO BREAK-EVEN (-€3.2 MILLION).OVERHEAD SAVINGS OF AROUND €29 MILLION ALREADY ACHIEVED (AHEAD OF THE2009 TARGET OF €50 MILLION); NEW TARGET FOR YEAR OF €55/60 MILLION
ASSET SALES TARGET OF €1 BILLION CONFIRMED FOR 2009 FIRST-HALF FINANCIAL HIGHLIGHTS
• REAL ESTATE ASSETS UNDER MANAGEMENT: €16.8 BILLION (€17.3 BILLION AT
12/31/2008)
• TOTAL SALES: €351.9 MILLION (€527.6 MILLION AT JUNE 2008)
• NET RESULT: -€42.3 MILLION (+€9 MILLION AT JUNE 2008)
• NET FINANCIAL POSITION, EXCLUDING SHAREHOLDER LOANS GRANTED: -€828.5
MILLION (-€898.4 MILLION AT 3/31/2009). TAKING ACCOUNT OF THE CAPITAL
INCREASE COMPLETED AT THE START OF JULY, THIS AMOUNT DROPS TO -€429.2
MILLION
THE COMPANY CONFIRMS THE ECONOMIC TARGETS ALREADY ANNOUNCED
FOR FULL YEAR 2009
• REAL ESTATE ASSETS UNDER MANAGEMENT: €16.8 BILLION (€17.3 BILLION AT
12/31/2008)
• TOTAL SALES: €351.9 MILLION (€527.6 MILLION AT JUNE 2008)
• NET RESULT: -€42.3 MILLION (+€9 MILLION AT JUNE 2008)
• NET FINANCIAL POSITION, EXCLUDING SHAREHOLDER LOANS GRANTED: -€828.5
MILLION (-€898.4 MILLION AT 3/31/2009). TAKING ACCOUNT OF THE CAPITAL
INCREASE COMPLETED AT THE START OF JULY, THIS AMOUNT DROPS TO -€429.2
MILLION
FOR FULL YEAR 2009