The Piaggio Group reported consolidated net total sales for all divisions of 346.2m euro for the first quarter (ended March 31) of 2019 - an improvement of +10.8% from the 312.3m euro in the first quarter of 2018.
The industrial gross margin was 103.9m euro (+7.5%); the return on net sales was 30% (31% in the year-earlier period) and operating expense in the first quarter were 83.3m euro (82.2m euro in the first quarter of 2018).
In the first three months of 2019, the Piaggio Group sold 140,400 vehicles worldwide, an increase of +8.2% (129,700 shipments in the year-earlier period), reporting consolidated net sales of 346.2m euro and growth in sales volumes in all regions, with a particularly strong two-wheeler increase in Asia Pacific (+16.8%), India (+7%), EMEA and the Americas (+6.7%).
In motorcycle and PTW terms, the Group sold 84,600 units worldwide in the first three months of 2019, generating net sales of 226.7m euro (+7.9% from 210.1m euro in the year-earlier period). The figure includes spares and accessories, on which turnover totalled 30.1m euro, an increase of +2%.
Piaggio says it "again confirmed its leadership in the European scooter segment with a share of 23.2% and also maintained a strong positioning on the North American scooter market, with a share of 22.6%.
"The scooter segment had a very strong first quarter with double-digit growth in revenue, driven mainly by the Vespa brand and excellent performance in three-wheel scooters - the Piaggio Mp3 - the Piaggio Beverly and the Aprilia scooters.
"The Group motorcycle segment boosted revenue in the first quarter, largely thanks to the performance of the Moto Guzzi brand, which achieved a significant +24.5% sales increase, generated in particular by the excellent results of the new Moto Guzzi V85TT, the all-terrain model that has enjoyed great success since it began shipping at the end of February".
In its commercial vehicle division, Piaggio saw +13.4% increase in sales volumes to 55,800 units (+13.4%) for net sales of 119.5m euro (+6.9%).
Piaggio reports consolidated Ebitda of 49.5m euro (+14.5% - the best first-quarter result since the IPO in 2006); 14.3% Ebitda margin; 20.7m euro Ebit (+42.6%); 6% Ebit margin and 14.2m euro profit before tax in Q1 (+104.9%; net profit was 7.8m euro/+97.7%). Net financial debt was 456.1m euro (-46.8m).
