In the first half of 2019, the Piaggio Group reported a significant improvement in performance from the year-earlier period, growth in all the main earnings indicators, an increase in net profit, higher capital expenditure and a reduction in debt.
The Piaggio Group sold 321,500 vehicles worldwide, an increase of +5.7% (304,000 shipments in the year-earlier period), and reported consolidated net sales of 817m euro. During the period, the Group reported growth in sales volumes in all regions, with a particularly strong increase in Asia Pacific of two-wheelers (+20.2%), followed by the EMEA and Americas area (+6.7%) and India (+0.5%).
Piaggio Group has reported sales of 215,900 two-wheelers worldwide in the first six months of 2019, an improvement of +5.9% (203,900 in the first half of 2018), generating net sales of 583.4m euro (+12.1% from 520.5m euro in the year-earlier period).
The figure includes spares and accessories, on which turnover totalled 67.5m euro, an increase of 5%.
In the first half of 2019, the Piaggio Group reported "excellent performance in the Asia Pacific region (+20.2% volume, +28.8% turnover) and the EMEA and Americas area (+4.6% volumes, +9.4% turnover). In India two-wheeler turnover rose by 2.3%, partly thanks to an improved sales mix, and confirmed our leadership of the scooter segment with a share of 24.4%; on the North American scooter market it maintained a strong position, with a share of 21.3%.
"The scooter segment had a very positive first half, with double-digit turnover growth, driven primarily by the Vespa brand (which reported a 16% increase in turnover from the first half of 2018) and by the excellent performance of the Piaggio Mp3 three-wheel scooter, which boosted turnover by more than 20 percentage points, and of Aprilia scooters.
"The Group motorcycle segment also saw boosted first-half revenue by 14%, largely thanks to the performance of the Moto Guzzi brand, which achieved a significant 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 in February.
Its commercial vehicles division reports sales volumes of 105,700 vehicles, up +5.5% from 100,100 vehicles in the first half of 2018, and net sales of 233.5m euro, up +11.7% from 209.1m euro in the year-earlier period.
The strongest growth was reported in the EMEA and Americas area (+45.5% volumes; +18.6% turnover). In India, the Piaggio Group sold 95,800 commercial vehicles (+2.6% volume; +9.8% turnover); the PVPL subsidiary had an overall three-wheeler market share of 24.8% and confirmed its leadership of the cargo segment with a share of 44.3%.
Piaggio Fast Forward (PFF), the Piaggio Group company headquartered in Boston and active in robotics and future mobility, is continuing development work on 'Gita', a two-wheeled cargo-carrying device.
