In the first quarter of this year, the Piaggio Group’s revenues increased by + 18.5%, driven by the positive trend of the two-wheeler segment (119,000 vehicles) and with motorcycle sales increased by 45%
May 3, 2022
And2022 began on the right foot for the Piaggio Group: in first quarter they have in fact registered the greatest revenues ever in the reference period.
The Board of Directors of Piaggio and C. met yesterday approving the quarterly financial report as at 31 March. Revenues were 455.8 million euro, up by 18.5% (+ 15.5% at constant exchange rates) compared to € 384.7 million in the first quarter of 2021.
Un growth due to the progression of the two-wheeler divisionwhose turnover increased by 77.1 million euros (+ 26%) going from 296.9 to 370 million of Euro.
In terms of volumes it is 119,000 vehicles sold (+ 15.3%) and growth was sustained in Asia Pacific (+ 32.8%), EMEA (+ 27.6%) and America (+ 25.8%).
Well the bikes
Land motorcycle sales of Aprilia and Moto Guzzi saw an increase of around 45%. For its part, Moto Guzzi closed a first quarter with double-digit growth in volumes and turnover thanks to the V7 and V85TT.
The segment scooter (Aprilia, Piaggio and Vespa) saw an increase of over 12.4% of sales globally, particularly driven by Wasp which recorded double-digit volume increases and strong growth in Europe, America, Indonesia, China and Vietnam.
On our continent, the Piaggio Group confirmed its first position in the scooter segment with a market share of 21%.
Andit was instead the commercial vehicle division suffered which saw sales drop to 22,800 units (-28.5%), with a net turnover of 81.8 million euros (-6.8%).
At a geographical level, the markets in the area Emea and the Americas they recorded a turnover in 13% growthwhile the decline in sales was mainly due to the contraction in volumes in India (-27.8%)which is still marked by the pandemic and which represents the main market for Piaggio.
THEThe gross industrial margin was 116.8 million euros, up 5%, or 25.6% in relation to turnover
L’Ebitda of 60.1 million euro represents the highest value achieved in the period (+ 7.2%), with Ebitda margin at 13.2%.
EBIT increased by 17.5% to € 27.7 million, with EBIT margin of 6.1. The pre-tax result was positive for 20.4 million euro (+ 10.4%) and the net profit of 12.7 million euro (+ 14.1%) is the best result recorded in the first quarter.
Finally, in the quarter they were carried out investments for approximately 26.6 million euros.
“The Piaggio Group – said the President and CEO of the Group, Roberto Colaninno – closed the first quarter with very positive results globally. Consolidated revenues, Ebitda and net profit reached their best ever values. We continue to monitor, through careful cost management, the effects caused by the Covid pandemic, the heavy crisis between Russia and Ukraine and the contingent difficulty in the supply of electronic components. I believe we can return to normal business management by September this year “.