Two-wheelers:
For the year ended 31 December 2023, the Group sold 436,300 two-wheelers worldwide,
generating net sales of 1,535,9 million euro (516,200 two-wheelers were sold in 2022, for net
sales of 1,683.8 million euro).
The figure includes spares and accessories, on which turnover totalled 157.1 million euro (+1%
from 155.5 million euro in 2022).
Turnover on two-wheeler sales was stable (+0.9%) in the EMEA & Americas area, with
particularly healthy performance on the Italian market (+8.7%), followed by the American market
(+3%). Sales slowed in India and in the Asia Pacific region.
In the scooter sector, the Piaggio Group had a 22.4% share of the European market and a 29.7%
share of the North American market. In North America the Group continued work to consolidate
its presence on the motorcycle market with the Aprilia and Moto Guzzi brands.
Highlights in the scooter sector were the excellent sales performance of the Piaggio Beverly and
Piaggio Medley high-wheel models, and the turnover growth for Vespa scooters in the EMEA area.
In the motorcycle sector, the market responded strongly to the Moto Guzzi V100 Mandello and
showed clear interest in pre-booking for the new Moto Guzzi Stelvio, which has been praised
by the international press. At Aprilia, the new 660cc engine demonstrated outstanding versatility,
taking Italian moto rally champion Jacopo Cerutti to a new victory in the famous Africa Eco
Race, on an Aprilia Tuareg 660. The Aprilia RS 660 sportsbike was an outstanding protagonist
in the Twins Cup class of the prestigious USA MotoAmerica championship, with two riders
reaching the podium in the general ranking
PIAGGIO GROUP: 2023 DRAFT FINANCIAL STATEMENTS
Piaggio Group CEO Michele Colaninno: “With each quarter the global macroeconomic scenario is
becoming more difficult to interpret and very unstable, and this situation will continue through the
current year. That said, 2023 was characterised by consolidation in Europe and the USA, a slowdown
in Asia and a healthy recovery in India. Against this background, the Piaggio Group closed the year
with a record Net Profit of 91.1 million euro, its best result ever. Our investments in new products
and continuing research into new technologies in mechanics and robotics as well as in intelligent
software mean we are preparing the next few years with optimism and keeping cash flow under
control.
The close attention to corporate processes and productivity improvements generated very interesting
margins, with an EBITDA margin of more than 16%. With regard to ESG issues and green mobility,
the Group is rolling out its investments in its production facilities in Italy according to schedule, and
taking concrete action to help reach the climate goals set by the European Union.”
• Consolidated net sales 1,994.6 million euro (2,087.4 €/mln at 31.12.2022).
• Industrial gross margin 574.7 million euro, up 3.6% (554.9 €/mln at 31.12.2022), 28.8%
return on net sales (26.6% at 31.12.2022)
• EBITDA 325 million euro, up 9% (298.1 €/mln at 31.12.2022)
EBITDA margin 16.3% (14.3% at 31.12.2022)
• EBIT 180.7 million euro, up 13.8% (158.7 €/mln at 31.12.2022). EBIT margin 9.1% (7.6% at
31.12.2022)
• Profit before tax 135.3 million euro, up 6.4% (127.2 €/mln at 31.12.2022)
• Net profit 91.1 million euro, the best result ever, up 7.3% (84.9 €/mln at 31.12.2022)
• Net financial position -434 €/mln (-368.2 €/mln at 31.12.2022)
• 559,500 vehicles sold worldwide (625,500 at 31.12.2022)
• Capital expenditure 162.9 million euro (151.7 €/mln at 31.12.2022)
• MSCI ESG AA Rating confirmed for eighth consecutive year
• Debut of the Fashion & Apparel project reflecting the Vespa brand’s lifestyle vocation:
presentation of the first creation, a varsity jacket dedicated to the year of the dragon.
Vespa is a collective of ideas and cultures.
• Dividend: proposed final per-share dividend 8 eurocents (total dividend for the year,
including the interim payout, 20.5 eurocents per share)
* * *
• Authorisation for the purchase and disposal of own shares
• Shareholders called to the Annual General Meeting in extraordinary and ordinary session;
proposal for the adoption of a one-tier corporate governance system
2
Pontedera, 04 March 2024 – At a meeting today chaired by Matteo Colaninno, the Board of
Directors of Piaggio & C. S.p.A. (PIA.MI) examined and approved the draft financial statements
and the Piaggio Group consolidated financial statements as at and for the year ended 31 December
2023 and the consolidated non-financial disclosure at 31 December 20231
.
STATEMENTS:
https://www.piaggiogroup.com/sites/piaggiocorpd7/files/doc/conf_call_fy_2023.pdf
https://www.piaggiogroup.com/sites/piaggiocorpd7/files/cs_piaggio_fy23_-_04.03.2024_-_eng.pdf
https://www.piaggiogroup.com/sites/piaggiocorpd7/files/doc/conf_call_fy_2023.pdf
