THE BRADLEY REPORT
Commenting on its first quarter 2021 financial results , Piaggio Group Chairman and CEO Roberto Colaninno said : " The Piaggio Group closed the first quarter of 2021 with very positive results at global level . Appreciation for the design , style and technology of our Italian brands continues to grow ; sales of two-wheelers rose by 35 % from the first quarter of 2020 and by 22 % from the first quarter of 2019 . Consolidated net sales were the highest since 2007 , and both EBITDA and net profit were our best-ever first quarter results . " At the same time , the high level of cash generated in part through careful working capital management permitted a significant debt reduction of more than € 100m compared with the first quarter of 2020 . " Nevertheless , we have to consider that the Covid pandemic is still a risk and so we continue to monitor each individual market closely . Clearly , the Indian continent is suffering and as always we shall keep a close eye on social responsibility ; the market will recover and be better than before ." The Piaggio Group sold a total of 135,000 vehicles of all kinds worldwide in Q1 (+ 15.3 % from 117,100 in the year-earlier period ) and reported consolidated net sales of € 384.7m . The growth in volumes arose in all geographical regions . In two-wheeler terms , the Group sold 103,200 two-wheelers worldwide
(+ 35 % from 76,400 at 31 March 2020 ), generating net sales of € 296.9m , an increase of 42.2 % from € 208.8 in the year-earlier first quarter . The figure includes spares and accessories , on which turnover totalled € 29.6m , an increase of 13.2 % from € 26.2m in the year-earlier period . The company says that 2021 firstquarter two-wheeler sales were particularly significant in India and America ( rising by more than 90 %), in Asia Pacific (+ 47.2 %) and on the European market , notably in Italy , with a volume increase of almost 70 %. In Europe , the Piaggio Group boosted its market share in both scooters and motorcycles and retained a strong positioning on the North American scooter market with a 32.9 % share , up from its previous share of 23.7 %. In North America , the Group is also working hard on consolidating its presence on the motorbike market with the Aprilia and Moto Guzzi brands . In the scooter market , global sales rose by almost 37 %, led by the Vespa brand , the three-wheel scooters , the Liberty high-wheel scooter and the rise in sales of the new version of the Piaggio Beverly . In motorcycles , Moto Guzzi reported an outstanding first quarter , with its highest-ever sales volumes and net sales , notably for the Moto Guzzi V7 and V85TT . The first quarter of 2021
Roberto Colaninno , Group Chairman : " Sales of two-wheelers rose by 35 % from the first quarter of 2020 and by 22 % from the first quarter of 2019 . Consolidated net sales were the highest since 2007 , and both EBITDA and net profit were our best-ever first quarter results ."
was also extremely positive for the Aprilia brand , whose net sales were the highest since 2007 ( almost double the figure of the year-earlier period and up by almost 50 % from the first quarter of 2019 ), assisted by the Aprilia RSV4 Supersports model , with an increase of 40 %, and the new Aprilia RS and Aprilia Tuono with 660 cc engines , which generated strong market interest . The Piaggio Group ' s net profit was € 11.1m , its best-ever first quarter result , with a more than three-fold increase against € 3.1m in the first quarter of 2020 .
Moto Guzzi will celebrate its 100th anniversary at its historic Mandello del Lario factory on September 9-12 .
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