Piaggio - results for 2022 half year
Commenting on its 2022 Q2 and first half year results , Piaggio Group Chairman and CEO Roberto Colaninno stated that " the Piaggio Group closed the first half of 2022 with very positive results at global level . " Consolidated net sales , EBITDA and net profit were among our best-ever results for the first half . Through careful cost management , we continue to monitor the effects of the Covid pandemic , the serious crisis between Russia and Ukraine ( which has no impact on our financial statements ) and the current difficulties in procuring electronic components . " Thanks to its unique brand portfolio , Piaggio will nonetheless continue along its growth path in the second half of 2022 , confirming the investments planned in new products and new facilities , and also strengthening its commitment to ESG issues ." Across all segments , Piaggio sold 320,600 total vehicles worldwide in the first half to 30 June 2022 (+ 11.7 % from 287,100 in the year-earlier period ) and reported consolidated net sales of € 1,053.1m . The growth in volumes arose in all geographical regions . In its two-wheeler activities , the Group had sold 271,600 two-wheelers worldwide (+ 11.8 % from 242,800 in the first half of 2021 ), as of June 30 , 2022 , generating net sales of € 875.8m , an increase of + 15.1 % from € 761m in the year-earlier period . The figure includes € 73.9m in spares and accessories turnover (+ 6.3 %). Two-wheeler sales in the first half of 2022 were particularly strong in Asia Pacific (+ 27 %), followed by the
Americas (+ 26.3 %) and EMEA (+ 7 %). On the Indian market , sales volumes fell by -7.4 % while net sales were up 11.2 %. In Europe , the Piaggio Group says it confirmed its leadership in the scooter segment with a share of 22.5 % and maintained a strong positioning on the North American scooter market , with a share of 31 %. " In North America , the Group is also working to consolidate its presence on the motorcycle market
Moto Guzzi V85TT
with the Aprilia and Moto Guzzi brands ". The scooter sector saw double-digit growth in global sales volumes , driven in particular by the Vespa brand , which reported strong performance in Asia Pacific ( mainly in Indonesia , Vietnam and China ), India , the Americas and Italy , and by Aprilia scooters . In motorcycles , where overall sales volumes rose by around + 30 %, Moto Guzzi reported a very strong first half , with volumes and net sales showing double-digit growth , thanks especially to sales of the Moto Guzzi V7 and V85TT . The first six months were also extremely positive for Aprilia motorcycles , chiefly as a result of sales of the new Aprilia Tuareg and Aprilia
Piaggio Group CEO Roberto Colaninno : " The Piaggio Group closed the first half of 2022 with very positive results at global level ."
RS 660 cc , which benefited from Aprilia Racing ' s excellent performance in the MotoGP championship . In commercial vehicles , the Piaggio Group reported sales volumes of 49,000 vehicles (+ 10.8 % compared to the figure of 44,200 in the first half of 2021 ), with net sales of € 177.3m (+ 26 %). The EMEA and Americas markets reported turnover growth of + 10 %; on the Italian market in particular , sales of the new Porter NP6 were a key factor . The Indian market regained strength to report a rise of almost + 40 % in turnover for commercial vehicles , with sales volumes increasing by more than + 20 %. Piaggio Fast Forward ( PFF ), the Piaggio Group ' s robotics and future
mobility company based in Boston , expanded its offer with the presentation in September of ' gitamini ', a new robot that condenses the technology and functions of ' gita ', its revolutionary " big brother ", in a lighter , more compact design . PFF kicked off a series of pilot programmes , together with partners active in various business sectors , to test further applications for ' gita ' in the travel , residential and retail sectors and in last-mile delivery . In March , PFF announced an agreement with Trimble , a Nasdaq-listed company , to develop robots and machines to follow humans and other devices in industrial applications . PFF has also designed and developed an innovative sensor technology , which made its debut on the new Piaggio MP3 three-wheel scooter , " to deliver unparalleled safety . Thanks to the integration of advanced rider assistance systems ( ARAS ), the new sensors play a vital role in accident prevention and rider protection ". Group consolidated net sales for the first half of 2022 were € 1,053.1m , an increase of + 16.8 %, the best-ever first-half result . Industrial gross margin of € 277.1m was up + 5.8 %, a 26.3 % return on net sales . EBITDA was € 152.2m , the strongest result achieved in the first half (+ 5.3 %); EBITDA margin was 14.5 %. EBIT was € 85.8m , up + 6.7 %; EBIT margin was 8.1 %. Profit before tax was € 72.9m , up + 3.9 %; net profit was € 45.2m , the best first-half result since 2008 .
Aprilia Tuareg 660
Norton Commando 961 returns By Ben Purvis
Norton might be making plans for its future with the development of a completely new electric bike , but the company isn ' t turning its back on traditional fans - and now it plans to bring back the Commando 961 that formed the backbone of the company ' s range for more than a decade . The Commando 961 was the basis of Norton ' s revival during the ill-fated era under Stuart Garner ' s ownership . That period might have ended in ignominy and financial collapse , but the Commando 961 itself proved popular enough to sustain the brand from Garner ' s takeover in 2008 until Norton ' s 2020 bankruptcy . |
The 961 was itself inherited from Norton ' s previous iteration , when American engineer Kenny Dreer developed the original Commando of the 1960s and 70s into first the VR880 ( Vintage Rebuilds 880 cc ) and later the 961 cc Commando 961 . At the same time , Dreer put in the legwork to reassemble the scattered remains of Norton ' s trademarks , bringing the splintered brand back together before running out of money and opening the door for Garner to take the project on and return it to the UK . Now owned by Indian manufacturing giant TVS , Norton ' s financial footing is firmer than ever in its history . The V4 |
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superbike has already been redeveloped into the V4SV and the new V4CR Café Racer , the parallel twin , 650 cc Nomad project is back on track and there ' s work going into a future electric bike project . On top of that , the company has now said that there ' s a ' new ' Commando 961 coming soon . Images on Norton ' s website show that the new 961 looks very much like the old one , but like the V4 , it ' s sure to have undergone significant development under the skin . Not only did the old model suffer from reliability problems , but it wasn ' t certified to Euro 5 emissions standards , something that any new production |
bike has to achieve . With the money and R & D work from TVS , as well as Norton ' s new manufacturing facility near the company ' s historic home in the UK , the new 961 finally promises to live up to the promise that it ' s always shown . |
30 INTERNATIONAL DEALER NEWS - AUGUST / SEPTEMBER 2022