Latest results covering the nine months of 2016 to 30 September highlight consistent recovery as the year progressed for Piaggio, reports BDN financial editor Roger Willis.
Overall group sales revenue during the period was 2.9% up at £926.2m. The contribution from Piaggio’s powered two-wheeler business increased by 4.1% to £655.3m — 71% of total turnover.
Operating profit rose by 4.2% to £54.3m. Pre-tax profit was 10.1% up at £30.2m and net profit put on 4.6% to £17.2m. Net debt fell by 5.3% year-on-year to £421.5m.
Global powered two-wheeler sales volume grew by 6.1% to 266,400 units. Overall European market share strengthened from 15.1% to 15.5%, with a 25.9% share for scooters. The group also maintained an 18.9% scooter share in North Amerca.
Notable motorcycling landmarks were an 8% worldwide volume increase across Moto Guzzi products and a 43.4% boost for the Aprilia V4 Tuono range.