Piaggio Group - first half of 2023
Roberto Colaninno, Chairman and CEO of the Piaggio Group, announced: "The Piaggio Group closed the seventh consecutive quarter of growth - recording the best results ever.
"As at 30th June, turnover increased by over 11%, exceeding € 1bn, Ebitda stood at 191.2m, with an incidence on revenues of 16.3%, and net profit reached the highest result ever in the six months, reaching € 64.8m.
"For the remaining part of the year, we will apply the management productivity system in all plants, which has allowed us to achieve higher margins without a substantial increase in prices. We will continue to carry out the investments envisaged in our strategic plans on electric mobility and ESG issues."
The Piaggio Group had sold a total of 324,600 vehicles worldwide (320,600 in the first half of 2022), up 1.2%, recording consolidated revenues of € 1,172m (€ 1,053.1m at 30th June 2022). Growth in volumes in the EMEA & Americas areas more than compensated for a slight decline in the Asian markets.
In Two-Wheel sector terms, the Group had sold 267,400 two-wheeler vehicles worldwide (-1.5% compared to the 271,600 vehicles sold in the first half of 2022), but the different product mix made it possible to achieve net revenues up by +9.2% , settling at € 956.1m (compared to € 875.8m as at 30th June 2022).
"The turnover generated by two-wheelers in the first half of 2023 was particularly strong in the EMEA & Americas area (+15.1%), with particular evidence of the very positive performance of the Italian market (+30%), followed by the American (+9.2%).
"In Europe, the Piaggio Group increased its share of the scooter segment, equal to 23.3% of the total market (22.6% in the first half of 2022), while on the North American scooter market it stood at a share of 29.3 %. In North America, the Group is also committed to consolidating its presence in the motorcycle segment, through the Aprilia and Moto Guzzi brands.
"The scooter sector saw a global increase in turnover of 12.2%, driven in particular by the Piaggio Beverly, Medley and Liberty high-wheel scooters and the Piaggio MP3 three-wheeler, which recorded an overall increase in revenues of almost 50% and by the Vespa brand, which recorded an increase of over 10%.
"In the motorcycle sector , we note the strong performance of Moto Guzzi, which recorded revenues up by around 30%, driven also by the new Moto Guzzi V100 Mandello, while at Aprilia, sales in the first half-year were sustained in particular by the supersports bike RSV4, of the Aprilia RS 660, Tuono 660 and 1100, and of the Tuareg 600, which also achieved important results in competitions dedicated to the rally world".
In terms of the Piaggio Group's Commercial Vehicles operations, the first half of 2023 saw the Piaggio Group sell 57,100 units, up by 16.6% (49,000 in 2022), achieving net revenues of € 215.9m, up by 21. 8% (€ 177.3m in 2022).
"Geographically, the Indian market regained strength, recording sales of commercial vehicles up by 34.7% and volumes up by 20%. The EMEA and Americas areas as a whole recorded a turnover growth of +2%".
Piaggio Fast Forward (PFF), the Piaggio Group company based in Boston focused on robotics and future mobility, continues sales of the gita land drone and the new gitamini robot. They are produced in the Piaggio Fast Forward plant located in the Charlestown district of Boston. "The marketing of robots foresees a first phase dedicated to the U.S. market, where the circulation of robots on city streets is already regulated.
"PFF has designed and developed sensors with an innovative technology that made their debut on the new Piaggio MP3 three-wheeled scooter, capable of offering unparalleled safety. Indeed, thanks to the integration of advanced driver assistance systems (ARAS), the new radars play a fundamental role in the prevention of accidents and in the protection of motorcyclists".
