Piaggio runs, the first quarter closes with sales up 9% and revenues up 20%

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After closing a year to remember, 2022, the Piaggio Group accelerates in the first quarter of the year with growth in turnover – the sixth in a row – of 20%, to 546.8 million euros, and 154,900 vehicles sold worldwide , up 9.2%. The Ebitda of the Group led by Roberto Colaninno amounted to 81 million, with an incidence on revenues of 14.8%, furthermore the net profit almost doubled compared to the same period last year, to 24.1 million euro, against a negative net financial position of 428 million, an improvement of 13 million in one year.

«These results make us very satisfied with the work carried out – comments the CEO Colaninno – and allow us to continue our important growth path already outlined with confidence and optimism, confirming the planned investments and the commitment on ESG issues. The central objective of 2023 is to preserve margins and improve where possible”.

The performances

The Pontedera Group invested 32.4 million euros between January and March, 21.7% more than last year. The growth concerned all the geographical areas in which the Group operates, from EMEA and Americas (+19.5%) to Asia Pacific (+12.4%) and India (+34.1%).

As at 31 March 2023, the sale of two-wheelers reached 124,700 units, up 4.8% on 2022, with net revenues of 438 million euros, up 17.1% on the 374 million euros in 2022. March 31, 2022. The turnover generated by two-wheelers in the first quarter of the year was particularly strong in the EMEA & Americas area (+21.9%), with good performances in the Italian market (+40.3%) and than the American one (+58.2%).

Two-wheeler and commercial

The scooter sector saw an increase in turnover of 16.8% globally, driven in particular by the Vespa brand, which recorded an increase of almost 18%, the three-wheeler Piaggio MP3 and the high-wheel scooters Piaggio Beverly , Medley and Liberty. In Europe, the Piaggio Group improved its market share in the scooter segment to 21.7% and further strengthened its positioning on the North American scooter market, reaching 26.4%v while aiming to consolidate its presence also in the motorcycle segment , through the Aprilia and Moto Guzzi brands.