1.1MB - Pirelli

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Pirelli S.p.A. Board of Directors Chairman and Chief Executive Officer Deputy Chairman Directors Secretary to the Board Marco Tronchetti Provera Alberto Pirelli Carlo Buora Eugenio Coppola di Canzano Carlo De Benedetti Alberto Falck Giovanni Ferrario Giuseppe Gazzoni-Frascara Georg F. Krayer Angelo Marchiò Giuseppe Morchio Luigi Orlando Riccardo Perissich Giampiero Pesenti Ennio Presutti Carlo Alessandro Puri Negri Vincenzo Sozzani Adalberto Castagna Board of Statutory Auditors Chairman Standing members Alternate members Luigi Guatri Mario Brughera Giorgio Oggioni Paolo Francesco Lazzati Alessandro Manusardi General Managers Finance and Administration Tyres Sector Cables and Systems Sector Carlo Buora Giovanni Ferrario Giuseppe Morchio Independent Auditors Reconta Ernst & Young S.p.A. Note: with respect to the powers conferred to the Chairman and CEO and General Managers, see page 46 under “Corporate governance”. i 3
Structure of Pirelli Group at December 31, 1998 Pirelli & C. 67.51% 6.53% Société Internationale Pirelli Ltd 39.49% 99.81% Pirelli S.p.A. 0.19% Pirelli Tyre Holding N.V. 100 % Pirelli Cavi e Sistemi S.p.A. 90% 90% Tyres Cables and Systems 10 % 10 % Minority interests (*) Pirelli & C. esercita il diritto di voto su un ulteriore 5,188% detenuto da azionisti terzi, che porta ad un totale pari al 50,003%. Tyres Argentina Brazil Germany Italy Spain Turkey United Kingdom United States Venezuela 4 i Cables and Systems Argentina Australia Brazil Canada China France Germany Hungary Indonesia Italy Ivory Coast Portugal Rumania South Africa Spain Turkey United Kingdom United States
Page 1 and 2: Pirelli S.p.A. Milan Annual Report
Page 3: Contents Board of Directors; Board
Page 7 and 8: Five-year Summary of Selected Conso
Page 9 and 10: Gross Domestic Product of the main
Page 11 and 12: 1997-1998 trend in raw materials pr
Page 13 and 14: Distribution of Pirelli Group 1998
Page 15 and 16: The added value of submarine system
Page 17 and 18: Cables and Systems Sector Overall p
Page 19 and 20: Distribution of 1998 Cables and Sys
Page 21 and 22: Advanced studies within the laborat
Page 23 and 24: The first submarine optical amplifi
Page 25 and 26: In Iceland, Pirelli installed 150 k
Page 27 and 28: The rotating platform of the Pirell
Page 29 and 30: The new Audi TT is fitted with ultr
Page 31 and 32: The Lamborghini Diablo is among the
Page 33 and 34: The trend of truck tyres in Brazil
Page 35 and 36: New types and sizes of the “Scorp
Page 37 and 38: Pirelli supplied the Berlin electri
Page 39 and 40: The Pirelli Corporate Web, the Intr
Page 41 and 42: Certification activities in line wi
Page 43 and 44: Distribution of Group personnel by
Page 45 and 46: • revenues for goods and services
Page 47 and 48: Corporate Governance As represented
Page 49 and 50: Results of operations The 1998 resu
Page 51 and 52: Appointment of the audit firm Upon
Page 53 and 54: Consolidated balance sheets Assets
Page 55 and 56:
Liabilities and shareholders’ equ
Page 57 and 58:
Consolidated statements of income (
Page 59 and 60:
- positive differences, where not a
Page 61 and 62:
• Provision for income taxes The
Page 63 and 64:
"Investments in associated companie
Page 65 and 66:
- Other receivables Other receivabl
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Provisions for income taxes The pro
Page 69 and 70:
An analysis of payables by due date
Page 71 and 72:
MEMORANDUM ACCOUNTS Memorandum acco
Page 73 and 74:
Personnel costs Personnel costs con
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for liabilities and expenses accrue
Page 77 and 78:
R&D expenditures In 1998 the Group
Page 79 and 80:
Consolidated statements of cash flo
Page 81 and 82:
Reconciliation of net results and s
Page 83 and 84:
Assets (continued) (in thousands of
Page 85 and 86:
Memorandum accounts (in thousands o
Page 87 and 88:
List of investments Companies conso
Page 89 and 90:
Percentage Company Activity Headqua
Page 91 and 92:
Percentage Company Activity Headqua
Page 93 and 94:
Other investments in subsidiaries a
Page 95 and 96:
improvements and loan acquisition c
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Extraordinary part of the sharehold
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the two companies, given that that
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the formation of the value in this
Page 103 and 104:
The weighted average cost of capita
Page 105 and 106:
Result of the valuation and the sha
Page 107 and 108:
Entering into the merits of the mer
Page 109 and 110:
Group structure at December 31, 199
Page 111 and 112:
Notice pursuant to art. 10, paragra
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1.i - Evaluations by the Board of D
Page 115 and 116:
December 31, 1998, with the cancell
Page 117 and 118:
Amendment of the by-laws Present wo
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6. Effects of the merger The transa
Page 121 and 122:
and abroad, pursuant to the terms o
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or Managing Directors, the chair sh
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e enclosed with the lists together
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Attachment 2 Pirelli S.p.A. - Milan
Page 129 and 130:
Article 10 In view of the nature of
Page 131 and 132:
Article 19 The Board is authorized
Page 133 and 134:
Failing any lists, the Board of Sta
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