Piaggio ' s full year 2020 financial results showed consolidated revenues of € 1,313.7m ( -13.6 % on the € 1,521.3m achieved in 2019 ), however , the second half of 2020 showed consolidated net revenues marginally up 1.3 % compared to the second half of 2019 . Gross industrial margin was € 372.4m (€ 458.8m in 2019 ), which was 28.3 % of turnover ( 30.2 % in 2019 ). Ebitda was € 186.1m (€ 227.8m in 2019 ); Ebitda margin was 14.2 % ( 15 % in 2019 ). The operating result profit ( Ebit ) was € 70.9m (€ 104.5m in 2019 ); Ebit margin was 5.4 % ( 6.9 % in 2019 ). Profit before taxes was € 50.2m (€ 80.7m in 2019 ); net profit was € 31.3m (€ 46.7m in 2019 ). Net financial position was € 423.6m , an improvement of € 125m compared to the € 548.6m in 2019 , which Piaggio says was due to the " positive trend in sales recorded in the second half of 2020 and the careful management of capital ". Total Piaggio Group vehicle sales were 482,700 units worldwide ( 611,300 in 2019 ). The company made some € 140.4m of investments , around the same as in 2019 . In response to these results , the Standard & Poor ' s credit agency upgraded its rating for Piaggio Group to B +, stating that " the Piaggio Group ' s results for 2020 outperformed our former forecast thanks to significant recovery in operating performance during the second half . The positive outlook reflects our view that the next 12 months will see Piaggio ’ s operating
On sale in 2021 only , Piaggio is marking the 75th anniversary of the Vespa brand with special edition Primavera ( 50 , 125 and 150 cc ) and GTS ( 125 and 300 cc ) models . The first patent for Vespa was filed on 26th April 1946 , setting in motion one of the cultural phenomena of the 1950s and 1960s . Buyers will receive an exclusive anniversary welcome kit that includes an elegant Italian jacquard silk scarf with handsewn hems , a vintage steel Vespa plate , a personal Owner ’ s Book and eight collector postcards with images from the eight decades of the Vespa story . performance materially recover from a challenging 2020 ". In two wheel terms , the Group sold 384,700 two-wheeled vehicles worldwide in 2020 ( -3.7 % compared to 399,600 in 2019 ), for a net turnover of € 1,040.9m ( -1.3 % compared to € 1,055m in 2019 ). The overall decline recorded was mainly due to the decrease in India . Sales in the EMEA and Americas markets were slightly up (+ 0.6 % units ) against a slight decrease in turnover ( -3.1 % at constant exchange rates ); the Asia Pacific area was up strongly by + 9.4 % in unit terms . In Europe , the Piaggio Group further strengthened its leadership in the European two-wheeler market in 2020 , reaching an overall share of 14.2 %. " A significant increase in motorcycle sales and the excellent results obtained in the scooter segment contributed to this result , with a share of 24.0 %." Sales volumes of the Piaggio Medley increased by almost + 40 %; the Vespa brand recorded a " positive trend overall ", with volumes growing by more than + 20 % in Germany , the Netherlands , the Americas and various Asian countries ; the Vespa brand has " momentum " in China , where sales more than doubled . In the motorcycle sector , Piaggio saw growth in sales for the Moto Guzzi V85TT Enduro , the Moto Guzzi V7 (+ 26 % in the second half of the year ), the Supersports Aprilia RSV4 and the new Aprilia RS 660 , with the " constant growth of the range " continuing with the Aprilia SX 50 and 125 cc models .