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    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CurrentLiabilities" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Passività correnti [total]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress" xlink:label="loc_ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RawMaterialsAndConsumablesUsed" xlink:label="loc_ifrs-full_RawMaterialsAndConsumablesUsed" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_RawMaterialsAndConsumablesUsed" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Materie prime e materiali di consumo utilizzati [negated]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="loc_ifrs-full_EmployeeBenefitsExpense" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_EmployeeBenefitsExpense" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Costi per benefici per i dipendenti [negated]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="loc_ifrs-full_DepreciationAmortisationAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherExpenseByNature" xlink:label="loc_ifrs-full_OtherExpenseByNature" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherExpenseByNature" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Altri costi, per natura [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherExpenseByNature" xlink:to="label_ifrs-full_OtherExpenseByNature" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" xlink:label="loc_ifrs-full_ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Aumento (diminuzione) a seguito di trasferimenti derivanti da lavori su ordinazione in corso, immobili, impianti e macchinari [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" xlink:to="label_ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="loc_ifrs-full_ProfitLossFromOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLossFromOperatingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Utile (perdita) derivante da attività operative [total]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LossesOnDisposalsOfInvestments" xlink:label="loc_ifrs-full_LossesOnDisposalsOfInvestments" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_LossesOnDisposalsOfInvestments" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Perdite derivanti dalla dismissione di investimenti. [negated]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinanceCosts" xlink:label="loc_ifrs-full_FinanceCosts" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_FinanceCosts" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Oneri finanziari [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinanceCosts" xlink:to="label_ifrs-full_FinanceCosts" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="loc_ifrs-full_ProfitLossBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLossBeforeTax" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Utile (perdita) prima delle imposte [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossBeforeTax" xlink:to="label_ifrs-full_ProfitLossBeforeTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="loc_ifrs-full_IncomeTaxExpenseContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeTaxExpenseContinuingOperations" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Oneri (proventi) fiscali [negated]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="loc_ifrs-full_ProfitLoss" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ProfitLoss" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Utile (perdita) [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLoss" xlink:to="label_ifrs-full_ProfitLoss" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:label="loc_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Imposte sul reddito relative alle altre componenti di conto economico complessivo che non saranno riclassificate nell'utile (perdita) d'esercizio [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" xlink:to="label_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLoss" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Altre componenti di conto economico complessivo che non saranno riclassificate nell'utile (perdita) d'esercizio, al netto delle imposte [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Rettifiche da riclassificazione sulle differenze di cambio alla conversione, al lordo delle imposte [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax" xlink:to="label_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Rettifiche da riclassificazione sulle coperture dei flussi finanziari, al lordo delle imposte [negated]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:label="loc_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Imposte sul reddito relative alle coperture dei flussi finanziari incluse nelle altre componenti di conto economico complessivo [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:to="label_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnChangeInValueOfForeignCurrencyBasisSpreadsBeforeTax" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnChangeInValueOfForeignCurrencyBasisSpreadsBeforeTax" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReclassificationAdjustmentsOnChangeInValueOfForeignCurrencyBasisSpreadsBeforeTax" xlink:to="label_ifrs-full_ReclassificationAdjustmentsOnChangeInValueOfForeignCurrencyBasisSpreadsBeforeTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncomeTaxRelatingToChangeInValueOfForeignCurrencyBasisSpreadsOfOtherComprehensiveIncome" xlink:label="loc_ifrs-full_IncomeTaxRelatingToChangeInValueOfForeignCurrencyBasisSpreadsOfOtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncomeTaxRelatingToChangeInValueOfForeignCurrencyBasisSpreadsOfOtherComprehensiveIncome" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Imposte sul reddito relative alle variazioni del valore dei differenziali dovuti alla valuta estera incluse nelle altre componenti di conto economico complessivo [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxRelatingToChangeInValueOfForeignCurrencyBasisSpreadsOfOtherComprehensiveIncome" xlink:to="label_ifrs-full_IncomeTaxRelatingToChangeInValueOfForeignCurrencyBasisSpreadsOfOtherComprehensiveIncome" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Altre componenti di conto economico complessivo che saranno riclassificate nell'utile (perdita) d'esercizio, al netto delle imposte [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="label_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="loc_ifrs-full_OtherComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_OtherComprehensiveIncome" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Altre componenti di conto economico complessivo [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncome" xlink:to="label_ifrs-full_OtherComprehensiveIncome" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="loc_ifrs-full_ComprehensiveIncome" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_ComprehensiveIncome" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Conto economico complessivo [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncome" xlink:to="label_ifrs-full_ComprehensiveIncome" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CapitalReserve" xlink:label="loc_ifrs-full_CapitalReserve" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CapitalReserve" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Riserva di capitale [start]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CapitalReserve" xlink:to="label_ifrs-full_CapitalReserve" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CapitalReserve2" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Riserva di capitale [end]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CapitalReserve" xlink:to="label_ifrs-full_CapitalReserve2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInOperatingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Flussi finanziari derivanti da (usati in) attività operative [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="label_ifrs-full_CashFlowsFromUsedInOperatingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Acquisto di immobili, impianti e macchinari, classificato come attività di investimento [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="label_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Acquisto di attività immateriali, classificato come attività di investimento [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="label_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Acquisto di strumenti finanziari, classificato come attività di investimento. [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:to="label_ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInInvestingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Flussi finanziari derivanti da (usati in) attività di investimento [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="label_ifrs-full_CashFlowsFromUsedInInvestingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Rimborsi di finanziamenti, classificati come attività di finanziamento [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="label_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Dividendi pagati, classificati come attività di finanziamento [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:to="label_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Pagamenti delle passività dei leasing, classificati come attività di finanziamento [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="label_ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashFlowsFromUsedInFinancingActivities" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Flussi finanziari derivanti da (usati in) attività di finanziamento [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="label_ifrs-full_CashFlowsFromUsedInFinancingActivities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Aumento (diminuzione) di disponibilità liquide e mezzi equivalenti [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="label_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:label="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Disponibilità liquide e mezzi equivalenti se diversi da quelli nel prospetto della situazione patrimoniale-finanziaria [start]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="label_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition2" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Disponibilità liquide e mezzi equivalenti se diversi da quelli nel prospetto della situazione patrimoniale-finanziaria [end]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition" xlink:to="label_ifrs-full_CashAndCashEquivalentsIfDifferentFromStatementOfFinancialPosition2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:label="loc_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" />
    <link:label xlink:type="resource" xlink:label="label_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xml:lang="it" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Scoperti bancari [negated]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:to="label_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_Riserve" xlink:label="loc_PIRELLI_Riserve" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_Riserve" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Riserve</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_Riserve" xlink:to="label_PIRELLI_Riserve" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_RiserveNonControllingInterests" xlink:label="loc_PIRELLI_RiserveNonControllingInterests" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_RiserveNonControllingInterests" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Riserve non controlling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_RiserveNonControllingInterests" xlink:to="label_PIRELLI_RiserveNonControllingInterests" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_CostiDelPersonaleDiCuiEventiNonRicorrenti" xlink:label="loc_PIRELLI_CostiDelPersonaleDiCuiEventiNonRicorrenti" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_CostiDelPersonaleDiCuiEventiNonRicorrenti" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Costi del personale di cui eventi non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_CostiDelPersonaleDiCuiEventiNonRicorrenti" xlink:to="label_PIRELLI_CostiDelPersonaleDiCuiEventiNonRicorrenti" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_RisultatoDaPartecipazioni" xlink:label="loc_PIRELLI_RisultatoDaPartecipazioni" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_RisultatoDaPartecipazioni" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Risultato da partecipazioni</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_RisultatoDaPartecipazioni" xlink:to="label_PIRELLI_RisultatoDaPartecipazioni" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_RisultatoDaPartecipazioni2" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Risultato da partecipazioni [total]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_RisultatoDaPartecipazioni" xlink:to="label_PIRELLI_RisultatoDaPartecipazioni2" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_ImposteDiCuiEventiNonRicorrenti" xlink:label="loc_PIRELLI_ImposteDiCuiEventiNonRicorrenti" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_ImposteDiCuiEventiNonRicorrenti" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Imposte di cui eventi non ricorrenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_ImposteDiCuiEventiNonRicorrenti" xlink:to="label_PIRELLI_ImposteDiCuiEventiNonRicorrenti" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_AltreRiserveDiContoEconomicoComplessivo" xlink:label="loc_PIRELLI_AltreRiserveDiContoEconomicoComplessivo" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_AltreRiserveDiContoEconomicoComplessivo" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Altre riserve di conto economico complessivo</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_AltreRiserveDiContoEconomicoComplessivo" xlink:to="label_PIRELLI_AltreRiserveDiContoEconomicoComplessivo" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_OtherReservesRetainedEarningsMember" xlink:label="loc_PIRELLI_OtherReservesRetainedEarningsMember" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_OtherReservesRetainedEarningsMember" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Other reserves retained earnings member</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_OtherReservesRetainedEarningsMember" xlink:to="label_PIRELLI_OtherReservesRetainedEarningsMember" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_EffettoIperinflazioneArgentina" xlink:label="loc_PIRELLI_EffettoIperinflazioneArgentina" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_EffettoIperinflazioneArgentina" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Effetto iperinflazione Argentina</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_EffettoIperinflazioneArgentina" xlink:to="label_PIRELLI_EffettoIperinflazioneArgentina" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_Altro" xlink:label="loc_PIRELLI_Altro" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_Altro" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Altro</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_Altro" xlink:to="label_PIRELLI_Altro" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_TaxEffectOciMember" xlink:label="loc_PIRELLI_TaxEffectOciMember" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_TaxEffectOciMember" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Tax effect Oci member</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_TaxEffectOciMember" xlink:to="label_PIRELLI_TaxEffectOciMember" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2021-12-31.xsd#PIRELLI_AltriMovimenti" xlink:label="loc_PIRELLI_AltriMovimenti" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_AltriMovimenti" xml:lang="it" xlink:role="http://www.xbrl.org/2003/role/label">Altri movimenti</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_AltriMovimenti" xlink:to="label_PIRELLI_AltriMovimenti" />
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