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HomeNEWSFINANCIALREVENUE UP BUT PROFIT WEAKER AT PIAGGIO

REVENUE UP BUT PROFIT WEAKER AT PIAGGIO

Piaggio Group’s full-year 2015 financial results highlight recovery based on premium pricing in its scooter and motorcycle operations, and positive foreign exchange translation. Total revenue rose by 6.8% to £1.01bn. However, operating profit was 18.6% down at £44.1m and net profit fell by 26.1% to only £9.3m.

PTW sales volume in developed western markets declined by 1.6% to 206,100 units but revenue was 5% up at £517.5m. Similarly, Asia Pacific volume was 9.9% down to 88,100 units while revenue increased by 3.8% to £152.6m. Only India hit the button on both parameters, posting a 4.9% rise in numbers to 28,300 units and revenue improving by 26.2% to £18m.

Worldwide price mix for scooters managed to offset negative volume, delivering a marginal 0.1% increase to £470.6m. The Aprilia and Moto Guzzi motorcycle brands performed much better, with 26.7% growth to £118.6m. Associated parts and accessories also made a bigger contribution.     

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