International Dealer News IDN 149 June/July 2019 | Page 18

news ROOM
V85TT drives a significant +24.5% Moto
Guzzi sales increase in Q1 as Piaggio
PTW sales grow +7.9%
The Piaggio Group reported
consolidated net total sales for all
divisions of 346.2m euro for the first
quarter (ended March 31) of 2019 - an
improvement of +10.8% from the
312.3m euro in the first quarter of
2018.
The industrial gross margin was
103.9m euro (+7.5%); the return on
net sales was 30% (31% in the year-
earlier period) and operating expense in
the first quarter were 83.3m euro
(82.2m euro in the first quarter of
2018).
In the first three months of 2019, the
Piaggio Group sold 140,400 vehicles
worldwide, an increase of +8.2%
(129,700 shipments in the year-earlier
period), reporting consolidated net
sales of 346.2m euro and growth in
sales volumes in all regions, with a
particularly strong two-wheeler
increase in Asia Pacific (+16.8%), India
(+7%), EMEA and the Americas
(+6.7%).
In motorcycle and PTW terms, the
Group sold 84,600 units worldwide in
the first three months of 2019,
generating net sales of 226.7m euro
(+7.9% from 210.1m euro in the year-
earlier period). The figure includes
spares and accessories, on which
turnover totalled 30.1m euro, an
increase of +2%.
Piaggio says it "again confirmed its
leadership in the European scooter
segment with a share of 23.2% and
also maintained a strong positioning on
the North American scooter market,
with a share of 22.6%.
"The scooter segment had a very strong
first quarter with double-digit growth in
revenue, driven mainly by the Vespa
brand and excellent performance in
three-wheel scooters - the Piaggio Mp3
- the Piaggio Beverly and the Aprilia
scooters.
"The Group motorcycle segment
boosted revenue in the first quarter,
largely thanks to the performance of the
Moto Guzzi brand, which achieved a
significant +24.5% sales increase,
generated in particular by the excellent
results of the new Moto Guzzi V85TT,
the all-terrain model that has enjoyed
great success since it began shipping at
the end of February".
In its commercial vehicle division,
Piaggio saw +13.4% increase in sales
volumes to 55,800 units (+13.4%) for
net sales of 119.5m euro (+6.9%).
Piaggio reports consolidated Ebitda of
49.5m euro (+14.5% - the best first-
quarter result since the IPO in 2006);
14.3% Ebitda margin; 20.7m euro Ebit
(+42.6%); 6% Ebit margin and 14.2m
euro profit before tax in Q1 (+104.9%;
net profit was 7.8m euro/+97.7%). Net
financial debt was 456.1m euro (-
46.8m).