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IRELLI PRESS RELEASE THE BOARD OF PIRELLI & C. SPA APPROVED CONSOLIDATED RESULTS TO 30 JUNE 2021 PIRELLI : RESULTS SUPPORTED BY GENERAL RECOVERY IN DEMAND AND KEY PROGRAMS OF THE 2021-2022 | 2025 INDUSTRIAL PLAN MARKED GROWTH IN SECOND QUARTER : REVENUES + 72.6 % , ADJUSTED EBIT MARGIN 15.8 % FIRST HALF REVENUES + 41.2 % , ADJUSTED EBIT MARGIN 14.7 % STRENGTHENED IN HIGH VALUE , WITH CAR ≥18 " GROWTH SIGNIFICANTLY STRONGER THAN MARKET ( PIRELLI + 51 % , MARKET + 35 % IN FIRST HALF ) NET PROFIT IN FIRST HALF AT 131.6 MILLION EURO ( -101.7 MILLION IN FIRST HALF 2020 ) STRONG CASH GENERATION : +172.5 MILLION EURO NET CASH FLOW BEFORE DIVIDENDS IN SECOND QUARTER Second quarter 2021 Revenues : + 72.6 % to 1,320.1 million euro compared with second quarter 2020 ( organic variation + 73.9 % excluding effect of forex / Argentina hyperinflation equal to -1.3 % ) Group volumes : + 69.9 % compared with second quarter 2020 , High Value volumes + 68.8 % , Car ≥18 " + 74 % Price / Mix : + 4.0 % reflecting price increases following rise in raw material costs Adjusted Ebit : 208.6 million euro ( -74.4 million in 2Q 2020 ) , with Adjusted Ebit margin at 15.8 % ( -9.7 % in 2Q 2020 ) Net result : +89.4 million euro ( -140.2 million in 2Q 2020 ) Net Cash flow before dividends positive 172.5 million euro ( -4.0 million in 2Q 2020 and +72,4 million in 2Q 2019 ) First half 2021 Revenues : 2,564.8 million euro , an increase of 41.2 % compared with first half 2020 ( organic variation + 45.3 % ) . High Value revenues reach 71.9 % of Group revenues ( 70.8 % in first half 2020 ) Group volumes grew by 42.3 % : High Value volumes + 46.3 % , Car ≥18 " volumes + 51 % ( market + 35 % ) with strengthening of market share in all Regions . Stronger trend in Car > 19 " which grew by + 58 % ( market + 43 % ) Price / Mix : + 3.0 % in first half 2021 thanks to price increases and improvement of product mix Adjusted Ebit : 377.4 million euro ( 66.7 million in first half 2020 ) , with a margin at 14.7 % ( 3.7 % in first half 2020 ) Net profit : 131.6 million euro ( -101.7 million euro in first half 2020 ) 1