Piaggio says it consolidated its European motorcycle and scooter market share position in the first half of 2017, with an overall market share of 14.8% (the same as in the first half of 2016), and 26.1% in the scooter sector (26% in the year-earlier period).
The Group says it maintained a “particularly strong presence on the North American scooter market, with a share of 19.1%”, and that it is “also committed to strengthening its position in the motorcycle market in North America.”
In the Indian two-wheeler market, the Group almost doubled its sales volumes from the year-earlier period, thanks to the introduction of the new Aprilia SR 150 scooter. However, Vietnam saw a decline in scooter sales volumes, while the Group expanded its offer in Thailand through its recent entry onto the motorcycle market there with the introduction of the Aprilia and Moto Guzzi brands, adding to its “already well-established scooter offer with the Vespa and Piaggio brands” there.
Vespa saw worldwide sales grow by +9.3% from the first half of 2016, and strengthened its presence on the EMEA market, with net sales growth of +16.4%, and in Asia with net sales growth of +11.1%. “Performance was also positive in high-wheel scooters, where the Group reported revenue growth at global level, largely thanks to the new Liberty and to the Beverly and Aprilia doing well in India, thanks to the Aprilia SR 150 sports scooter.”
In motorcycle terms Piaggio saw sales growth for the Aprilia brand, “generated in particular by the naked models of the Tuono family and the excellent response to the new Supersports model RSV4 1000, which achieved an increase of more than 20% in part as a result of the strong return in terms of performance and image from Aprilia's participation in the world MotoGP championship.
“In the second half of the year, Aprilia will also benefit from sales of the new Aprilia Shiver 900 and Dorsoduro 900, launched on the market in June 2017”.
Revenue increased at Moto Guzzi, “driven specifically by the California range and the V7 motorbikes, whose fiftieth anniversary this year has been marked with an ad hoc model”.
The company also points to the significance of the Turin Court ruling in April that “declared the full validity of the three-dimensional trademark of the Vespa scooter and recognised the specific creative nature and artistic value of the shape that has characterised the scooter since it first went into production in 1946”.
In June, the Piaggio Group issued a 30 million euro long-term bond underwritten by Fondo Sviluppo Export, a fund initiated by SACE (CDP Group) and managed by Amundi SGR. The bond is intended for institutional investors and will provide support for the Piaggio Group’s international growth plan.
In July, the exclusive Vespa Sei Giorni scooter was launched in a numbered limited edition, as a ‘descendant’ of the original eponymous Vespa Sport “Sei Giorni” of 1951. A model with a large steel frame, the scooter was developed from the Vespa GTS 300cc Euro 4 two-wheeler.
In overall corporate terms, compared with the first half of 2016, Piaggio says their Group performance in the first half of 2017 was “positive, with a strong improvement and a reduction in debt”. Group consolidated net sales in the first half of 2017 totalled 725.3 million euro, an improvement of +2.7% from 706.5 million euro.
Piaggio says their consolidated Ebitda of 114 million euro was the best half-year figure of the last five years (since H1 2012), with a +12.3% improvement from 101.5 million euro in the first half to 30 June 2016. The Ebitda margin was 15.7%, the best half-year performance to date (14.4% at 30 June 2016). EBIT at 30 June 2017 was 53 million euro, an increase of 10.9% (47.8 million euro in the first half of 2016). For the first half of 2017, the Piaggio Group posted profit before tax of 36.5 million euro, up 21.4% compared with 30 million euro in the first half of 2016.
The company says it sold 280,700 vehicles in total, of all kinds, worldwide, an increase of +1.4% from 276,700 in the year-earlier period. Sales growth in the EMEA and the Americas areas (+5.8%) more than compensated for the decreases reported in India (-2.2% due to slower sales of commercial vehicles).
Of those, 202,100 were two-wheelers, up by +11% from 182,100 for the first half of 2016, generating net sales of 541.7 million euro, up +6.8%.
