In reporting its financial performance for the first nine months of 2015, Piaggio say is has consolidated its leadership on the European powered two-wheeler market with a 15.1% overall share (up from + 14.6 percent for the first six months of 2015) and a 24.4% share of the scooter sector, which it says is some 11 percent ahead of its nearest competitor. The company says it also maintained a strong position in the North American scooter market, with a 19.7% market share.
In scooters, the Group reported higher revenues for the Vespa brand (+6.8%). Motorcycle revenues also improved with an increase of +32.9%.
Turnover rose +35.7% for the Moto Guzzi brand and +23.4% for the Aprilia brand, thanks to "the success of the main new product entries launched by the Piaggio Group in the first half of the year: the V7 II 750, Audace and Eldorado 1400 motorcycles for Moto Guzzi, and the RSV4 RR and RF, Tuono 1100 Factory and RR and Caponord 1200 Rally for Aprilia".
In the first nine months of 2015, the Group sold 251,000 two-wheelers (259,500 at 30 September 2014), generating net sales of 701.1 million euro, an improvement of 6.5% from 658.4 million euro in the first nine months of 2014. The figure includes spares and accessories, where sales totalled 97.4 million euro (+9.7% from the first nine months of 2014).
The company says it saw revenue growth in all its lines of business (two-wheelers, commercial vehicles, spares and accessories) and in all its main geographical areas (EMEA, India, Asia Pacific), assisted by a positive exchange rate effect, with net sales of 610.7 million euro in the EMEA and Americas areas (+6.4% on the first nine months of 2014), 260.3 million euro in India (+9.8%) and 131.7 million euro in Asia Pacific (+9.7%).
Group consolidated net sales in the first nine months of 2015 totalled 1,002.6 million euro, an improvement of +7.7% from 930.8 million euro at 30 September 2014.
Turnover in its powered two-wheeler sector was 701.1 million euro, an increase of +6.5% from 658.4 million euro in the first nine months of 2014 (the figure includes spares and accessories).
The Piaggio Group closed the first nine months of 2015 with profit before tax of 30.5 million euro, compared with 36.5 million euro at 30 September 2014. Income tax for the period was 12.2 million euro (14.6 million euro at 30 September 2014), with an impact on pre-tax profit of 40%.
The first nine months of 2015 closed with a net profit of 18.3 million euro, compared with 21.9 million euro for the year-earlier period.
Among investments in Group industrial assets, a particularly important project is the new automated paint shop at Piaggio’s industrial facility in Pontedera (Pisa), work on which is nearing completion. In 2014, investment at Pontedera included the insourcing of high-precision aluminium machining operations, with the opening of a dedicated shop. The new paint shop is a completely robotised operation. It will be completed in early 2016, enabling Piaggio to improve still further finished product quality and efficiency on all vehicle paint processes.
The total workforce of the Piaggio Group at 30 September 2015 numbered 7,527 employees (7,510 at 31 December 2014). The Group’s Italian employees numbered 3,688, unchanged from the previous year.
In the first nine months of 2015, the Piaggio Group sold 396,200 vehicles of all kinds worldwide, compared with 417,200 in the year-earlier period.
On 29 September 2015, the Moody’s rating agency downgraded the Piaggio rating from Ba3 to B1, with a stable outlook.
On 13 October 2015, in Manhattan, Piaggio Group Americas, the Piaggio Group subsidiary based in New York, opened the Group’s first multi-brand flagship store in America, in line with the strategic guidelines of the Motoplex store programme. The new Group store is located at 6 Grand Street, at the heart of downtown New York. The dealership offers the top Piaggio Group brands such as Vespa, Piaggio, Aprilia and Moto Guzzi.
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