International Dealer News IDN 148 April/May 2019 | Page 16

news ROOM
Piaggio 2018: 25.3%
BRIEFS scooter market share
NEWS
Showa Suspension says that having
already worked very successfully with
the Kawasaki Racing Team and its riders,
the company has increased its
commitment to the successful World
Superbike championship-winning team
for 2019 by becoming a major sponsor
partner.
The new Diavel 1260 has received
the prestigious "Red Dot Design
Award 2019" for its
"unmistakeable style", winning
the "Red Dot: Best of the Best"
award, the highest recognition
assigned annually by this Essen,
Germany based international
contest, marking a third win for
Ducati, following the successes of
the 1199 Panigale in 2013 and the
XDiavel S in 2016.
The 2019 ACU British Enduro
Championship is being sponsored by
Michelin. Partnering with the ACU Trials
and Enduro committee, "Michelin is
ready to build on the success of this
established series and to support British
Enduro events. The sponsorship will
bring additional logistics and facilities to
enhance the consistency and raise the
profile of the championship. Michelin
says it has won over 40 Enduro world
titles in the sport's different classes since
the year 2000.
Vive La Moto (Barcelona, April 4-7,
also known as The Barcelona
Motorcycle Show) is the only
motorcycle show in Spain
promoted by Spanish industry
association ANESDOR. It will
feature more than 32,850 m2 of
exhibition space, 110 exhibitors,
362 brands and 60 product
launches and is expected to attract
over 35,000 visitors to the
prestigious Montjuïc venue in
Spain's motorcycle riding
heartland;
www.barcelona.vivelamoto.es
16
For its 2018 full financial year to
December 31, the Piaggio Group
reported an improvement in
performance from the previous year,
with progress on all its main earnings
indicators, a strong increase in Ebit
and net profit, higher capital
expenditure and a reduction in debt.
During 2018, the Group sold 603,600
vehicles in total worldwide, an
increase of +9.2% (552,800
shipments in the previous year), and
reported consolidated net sales of
1,389.5 million euro.
Sales volumes increased in India
(+23.5%) and in Asia Pacific
(+9.7%), while in the EMEA and
Americas regions (-4.3%) reduced
volumes are said to largely reflect the
impact of lower market demand for
50 cc vehicles.
In two-wheeler terms, the Group sold
393,100 units worldwide, an
improvement of +4.6% (376,000 in
2017), generating net sales of
957.9m euro (942.1m euro in 2017).
The figure includes spares and
accessories, on which turnover
totalled 125.2m euro, an increase of
3.3% from 121.2m euro in 2017.
The company reported a strong rise of
+30.3% in sales volumes on the
Indian two-wheeler market, "driven
by the excellent results of Vespa and
Aprilia SR", and an increase of
+9.7% in two-wheeler sales volumes
in Asia Pacific.
In Europe Piaggio says it has again
"confirmed its leadership of the
scooter segment, with a share of
25.3%. The Group also maintained a
strong positioning on the North
American scooter market, with a
share of 23.9%.
"In the scooter segment, excellent
results were achieved by the Vespa
brand, which reported +16% growth
INTERNATIONAL DEALER NEWS - APRIL/MAY 2019
in worldwide shipments and the
highest level of sales since 2007; all
geographical areas contributed to
this result, with a significant
improvement in India, Asia Pacific and
Europe. Sales volumes rose for the
MP3 three-wheeler, "reflecting in
particular the positive response to the
new engine displacements, and to the
Aprilia SR scooter on the Indian
market".
In motorcycles, Group volumes
increased "largely thanks to the
Aprilia brand, which reported an
improvement of +24.8%, assisted by
the new Shiver 900 and Dorso Duro
900 and the SX 50".
Group consolidated net sales totalled
1,389.5m euro, an improvement of
+4.3% from 1,332.4m euro in 2017.
At constant exchange rates, net sales
rose by +8.2% from the previous year.
The industrial gross margin was
423.6m euro, up by +4.5% from
405.4m euro in 2017. The return on
net sales was 30.5% (30.4% in
2017). Operating expense sustained
by the Group for the year ended 31
December 2018 amounted to
330.8m euro, down -0.7% from the
previous year (333.1m euro); Ebitda
was 201.8m euro, up by +4.9%
(+7.4% at constant exchange rates)
from 192.3m euro in 2017; Ebitda
margin was 14.5% (14.4% in 2017),
"the best annual result reported since
the IPO (2006)". Profit before tax at
31 December 2018 was 67.8m euro,
an increase of +69.4% (40.1m euro
in 2017). Piaggio Group net profit for
2018 was 36.1m euro, an increase of
+80.6% from 20m euro in 2017. Net
financial debt at 31 December 2018
stood at 429.2m euro, an
improvement of -17.5m euro from
446.7m euro at 31 December 2017.
Group capital expenditure amounted
to 115.3m euro, an increase of
+28.6m euro, up 33% from 86.7m
euro in 2017.
In commercial vehicles, the Piaggio
Group reported strong progress, with
210,500 vehicles sold, up +19.1%
(176,800 in 2017), and net sales of
431.6m euro, up +10.6% from
390.4m euro in 2017.
Piaggio Fast Forward (PFF), the
Piaggio
Gr o u p
company
headquartered in Boston and active
in robotics and mobility for the future,
is continuing development work on
its first innovative project, Gita, which
will be assembled and produced at
the new facility in Charlestown. Gita
is a smart vehicle able to move
autonomously in today's increasingly
complex urban environments. It can
accompany the user, map their
surroundings, exchange data and
monitor other moving objects.
On 15 January Moody's Investors
Service (Moody's) upgraded its
Piaggio Group rating from "B1" to
"Ba3" and assigned a "Stable"
outlook.
www.idnmag.com