International Dealer News IDN 154 April/May 2020 | Page 17
THE BRADLEY REPORT
Piaggio
In mid-March, Piaggio announced it was
to close its Pontedera, Mandello del
Lario, Noale and Scorzè plants to
implement the Italian government's
provisions to protect the safety of its
employees. The plan had been to re-
open on March 16th, but the rest, of
course, is history.
In February, the Italian giant's full year
2019 results had made good reading,
with the Group performing
"significantly better than the previous
www.idnmag.com
Bradley Smith - RS-GP 2020 testing
at Sepang in February
year, with growth in all key indicators,
increased net profit, higher investments
and the reduction of debt".
Consolidated revenues of € 1,521.3m,
up +9.5% (€ 1,389.5m in 2018);
EBITDA was € 227.8m euro, up
+12.9%, with an EBITDA margin of
15% (14.5% in 2018) - its best since the
IPO listing in 2006. The operating result
(EBIT) was € 104.5m, up +12.7%; and
the pre-tax profit of € 80.7m was up by
+18.9%.
The company says it sold 611,300
vehicles worldwide, up +1.3%
(603,600 in 2018); during the period
the Group recorded a strong increase in
revenues, in particular in the Asia Pacific
two-wheeler area (+ 23.2%), followed
by the EMEA and Americas area
(+ 8.8%) and India (+4.8%).
In two-wheeler terms, as at December
31, 2019, the Group sold 399,600 two-
wheeled vehicles worldwide, up +1.6%
for a net turnover of € 1,055.1m
(+10.1%). 2019 saw an excellent PTW
performance in the Asia Pacific area
(+14.5% volume, +23.2% turnover)
and a positive performance in the EMEA
and Americas area (+2.4% volume,
+8.3% turnover), while the Indian
market slowed slightly.
In Europe the Piaggio Group confirmed
its leadership in the scooter segment
with a 24.1% share, and on the North
American scooter market the Group
maintained a strong positioning with a
share of 23.7%, where the Group is also
committed to consolidating its presence
in the motorcycle segment through the
Aprilia and Moto Guzzi brands.
Overall the scooter sector saw a +8.1%
growth in turnover, mainly driven by the
strong performance of the Piaggio MP3
three-wheel scooter, the Piaggio Liberty
high-wheel scooter, the Vespa brand
and Aprilia scooters.
The Group's motorcycle sector ended
2019 with a +24.6% increase in
turnover, mainly thanks to the
performance of the Moto Guzzi brand,
which reported a significant increase
driven by the new Moto Guzzi V85TT.
The results of the Aprilia brand also
grew, driven by the sales of the SX 125,
RSV4 1000 and Shiver models.
INTERNATIONAL DEALER NEWS - APRIL/MAY 2020
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