Piaggio: +7,2% net profit to 1,3 million in the first quarter

Piaggio – The Piaggio Group closed the first quarter with consolidated revenues of 307,1 million euros (302 million in the same period of 2015) and a net profit of 1,3 million in line with the 1,2 million of last year. Ebitda was equal to 37,4 million euros (36,3 million in the first quarter of 2015) and the Ebitda margin was 12,2% (12%), the best performance recorded since 2008. The industrial gross margin stood at 90,8 million euros (88,1 million), while the operating result (Ebit) rose to 10,9 million (10,8 million). The net financial position is equal to -554,4 million euros (-568,4 at 31 March 2015). 2016 vehicles were sold worldwide in the first three months of 121.700, compared to 121.000 in the first quarter of 2015.

During the period, the Piaggio Group sold a total of 121.700 vehicles worldwide (a slight increase compared to the 121.000 units in the first quarter of 2015). As of 31 March 2016, the group had sold 74.800 two-wheeled vehicles worldwide (compared to 74.200 in the first quarter of 2015), for a net turnover of 208,2 million euros, up 2% compared to 204,1 million euros in first quarter 2015. The data also includes spare parts and accessories. Piaggio has strengthened its positioning in the European two-wheeler market, closing the first quarter of 2016 with an overall market share of 13,6% (compared to 13,1% in the first quarter of 2015) and a 24,5% share in the scooter sector (leaping the second European competitor by approximately 11 percentage points). The group's positioning also remains particularly strong on the North American scooter market, with a 19,6% share. The group aims to confirm its leadership position in the European two-wheeler market, making the most of the expected recovery through. It also envisages a further strengthening of the product range, aiming to grow sales and margins in the high-wheel scooter sector with the new Liberty and Medley vehicles and in the motorcycle sector, thanks to the renewed Moto Guzzi and Aprilia ranges. Piaggio is also aiming to enter the electric bicycle market, with the new Piaggio Wi-Bike, leveraging its technological and design leadership. The company aims to maintain its current positions on the European commercial vehicle market, consolidate its presence in the Asia Pacific area, exploring new opportunities in the medium-sized motorcycle segments and replicating the Vietnamese premium strategy throughout the region, with particular attention to the Chinese market, to strengthen sales in the Indian scooter market by focusing on increasing the offer of Vespa products and on the introduction, with the other brands of the Group, of new models in the premium scooter and motorcycle segments, increasing vehicle sales commercial in India and in emerging countries aiming at further development of exports aimed at African and Latin American markets