Despite a soft first half to its current financial year, Piaggio's third quarter (to September 30th 2014) saw the company report "significant growth" in all the sectors in which it operates. Total consolidated revenues were €301.8m - which is up +6.5 percent compared to the third quarter of 2013.
The statement from the board of directors of Piaggio & C. Spa, chaired by Roberto Colaninno, stated that "revenue growth combined with the activities of cost control and productivity have allowed us to bring the main indicators of profitability, relative to sales, at the same level in the first nine months of 2013.
"Of particular note, the progress of the Piaggio group in the third quarter compared to the third quarter of 2013 presents results that are clearly growing, both in absolute terms and as a percentage of revenues".
Third quarter revenues in Europe were +1.4 percent compared to the third quarter a year ago, Asia +9 percent and India +18 percent.
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| Roberto Colaninno: Piaggio has maintained its leadership of the European PTW market with a 16 percent share overall |
The group's EBITDA was +24.6 percent at €41.3m, with net income in the third quarter up by 92.6 percent at €5.4m, compared to €2.8m in the third quarter of 2013.
Piaggio say that year over year unit sales for January to September 2014 were +2 percent - marking a strong recovery from its disappointing second quarter.
The company claims that it has maintained its leadership of the European PTW market with a share of 16 percent overall and 25.1 percent in the scooter market.
