﻿<?xml version="1.0" encoding="utf-8" standalone="no"?>
<?taxonomy-version 1.0.0.0?>
<?taxonomy-date 2025-04-30?>
<!--This is a generated XML file-->
<link:linkbase xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xml="http://www.w3.org/XML/1998/namespace">
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2024-12-31.xsd#PIRELLI_ProfitLossBeforeTaxAbstract" xlink:label="loc_PIRELLI_ProfitLossBeforeTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_ProfitLossBeforeTaxAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Profit (loss) before tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_ProfitLossBeforeTaxAbstract" xlink:to="label_PIRELLI_ProfitLossBeforeTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_ProfitLossBeforeTaxAbstract2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Profit (loss) before tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_ProfitLossBeforeTaxAbstract" xlink:to="label_PIRELLI_ProfitLossBeforeTaxAbstract2" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2024-12-31.xsd#PIRELLI_ProfitLossFromOperatingActivitiesAbstract" xlink:label="loc_PIRELLI_ProfitLossFromOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_ProfitLossFromOperatingActivitiesAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Profit (loss) from operating activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_ProfitLossFromOperatingActivitiesAbstract" xlink:to="label_PIRELLI_ProfitLossFromOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_ProfitLossFromOperatingActivitiesAbstract2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Profit (loss) from operating activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_ProfitLossFromOperatingActivitiesAbstract" xlink:to="label_PIRELLI_ProfitLossFromOperatingActivitiesAbstract2" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2024-12-31.xsd#PIRELLI_ComprehensiveIncomeAbstract1" xlink:label="loc_PIRELLI_ComprehensiveIncomeAbstract1" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_ComprehensiveIncomeAbstract1" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_ComprehensiveIncomeAbstract1" xlink:to="label_PIRELLI_ComprehensiveIncomeAbstract1" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_ComprehensiveIncomeAbstract12" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Comprehensive income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_ComprehensiveIncomeAbstract1" xlink:to="label_PIRELLI_ComprehensiveIncomeAbstract12" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2024-12-31.xsd#PIRELLI_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="loc_PIRELLI_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total other comprehensive income that will not be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="label_PIRELLI_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other comprehensive income that will not be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="label_PIRELLI_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract2" />
    <link:loc xlink:type="locator" xlink:href="815600A0C9AFC1F2A709-2024-12-31.xsd#PIRELLI_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="loc_PIRELLI_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total other comprehensive income that will be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="label_PIRELLI_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" />
    <link:label xlink:type="resource" xlink:label="label_PIRELLI_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract2" xml:lang="en" xlink:role="http://www.xbrl.org/2003/role/label">Other comprehensive income that will be reclassified to profit or loss, net of tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_PIRELLI_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="label_PIRELLI_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract2" />
  </link:labelLink>
</link:linkbase>