Volumes up 2.1%, outperforming the markets,
Passenger car and Light truck tires up 3%, Truck tires up 1% and Specialty businesses down 1%.
Volumes up 4.2% for the Group in the fourth quarter, with gains of 5% in Passenger car and Light truck tires and 6% in the Specialty businesses.
€2,692 million in operating income, or 12.9% of net sales, up €235 million at constant exchange rates.
€159 million net positive impact from changes in price mix and versus raw materials costs, thanks to effective management.
Competitiveness plan target met with €1.2 billion in gains over the 2012-2016 period.
Strong free cash flow for the year, at €1,024 million.
€128 million improvement in structural free cash flow, to €961 million.
€750 million share buyback program completed over the 2015-2016 period.
1.8% of outstanding shares canceled in 2016, corresponding to €301 million.
Proposed dividend of €3.25 per share, reflecting the Group's commitment to shareholders and representing a payout ratio of 36.5%, to be submitted to shareholders at the Annual Meeting on May 19, 2017.