Piaggio Group: indications for the first half of 2020

Consolidated net revenues of Piaggio Group they amounted to 600,1 million euros, a decrease of 26,5% compared to 817 million euros recorded at 30 June 2019, taking into account the lockdown and the closure of production and commercial activities for several weeks in various parts of the world. Investments of 52,8 million euros (60,4 €/mln at 30.06.2019). In the first half of 2020 the Piaggio Group recorded a positive net profit of 9,1 million euros (34,6 million euros in the first half of 2019), as emerged from the press release sent in connection with the meeting of Board of Directors of Piaggio & CSpA (PIA.MI), under the presidency of Roberto Colanino, which assessed and approved the half-yearly financial report as at 30 June 2020.

Information and segments

From the data indicated as of 30 June 2020, the Piaggio Group sold overall at a global level 210.300 vehicles (321.500 in the first half of 2019) with consolidated revenues of 600,1 million euros. When the health emergency took over, there was a decline in sales in the various markets. A decline appeared more contained in Asia Pacific 2W (-9,6%), however in the EMEA and Americas areas and in India there was a decline in the number of vehicles sold of 22,2% and 56,9% respectively.
Until 30 June 2020, the Group sold 163.000 two-wheeled vehicles globally (-24,5% compared to 215.900 as of 30 June 2019) with a net turnover of 467,6 million euros (-19,8% compared to 583,4 million euros as of 30 June 2019). The value includes spare parts and accessories with a turnover of 53,6 million euros.
The overall decline is mainly linked to the decreases in the EMEA and Americas markets (-20,5% volumes; -21,5% turnover) and in India (-58,4% volumes; -49% turnover). The Asia Pacific area managed to contain the decline (-9,6% volumes; -4,7% turnover; -6,4% at constant exchange rates).
The Piaggio Group's leadership in Europe in the segment is confirmed scooter with a share of 24,1%, maintaining an interesting positioning on the North American scooter market with a share of 23,9%. In North America the Group aims to consolidate its presence also in the panorama motorcycle, through Aprilia and Moto Guzzi, as reported.
Growing sales in the Vespa scooter sector in several Asian countries, including China and an increase in sales of the Piaggio Medley high-wheel model.
Moving on to motorcycles, a substantial stability in sales of the Moto Guzzi V85TT and the Aprilia RS 125 and Shiver was ascertained.
In the commercial vehicles sector, the Piaggio Group sold 47.300 units in the period under review (-55,2% compared to 105.700 at 30 June 2019). A net turnover of 132,4 million euros (-43,3% compared to 233,5 million euros at 30 June 2019), including spare parts and accessories, recording a turnover of 17,5 million euros.
In the EMEA and Americas areas, the decline in sales was equal to 45%, in India the Group reported a decrease in sales of 56,3%. The Indian subsidiary PVPL marketed 36.946 units on the Indian three-wheeler market (81.723 in the first half of 2019), out of an overall share of the Indian three-wheeler market of 3%, up by 26,1 percentage points compared to 1,3. consolidating leadership in the freight transport segment with a market share of 2019%, up compared to the share of 48,3% at 44,3 June 30.
The Piaggio Group is also involved in the project for the development and creation of a new range of four-wheel light commercial vehicles, the new Porter. A vehicle built in the Italian factory in Pontedera and, in line with the timing of the program, the start of activities is scheduled for the end of the year. Furthermore there is Piaggio Fast Forward (PFF), the Piaggio Group company based in Boston focused on the robotics and mobility of the future, with the marketing of the first project Trip, a robot carrier of the "follow me" type that can carry weights of up to 20 kg and follow the owner in internal and external environments, reaching a maximum speed of 10 kilometers per hour, with an autonomy of 4 hours, as reported. The project was carried out in the Piaggio Fast Forward factory in the Charlestown neighborhood of Boston. Marketing is being developed in a first phase only in the US market, where the circulation of robots on city streets is already regulated, as indicated.

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