Piaggio FY core profits rise 29% on strong sales growth
02/03/2022 13:16
March 2 (Reuters) - Italian scooter maker Piaggio PIA.MI
on Wednesday reported a 29% rise in annual core profits, helped
by strong performance in the EMEA and Americas region and Asia
Pacific that helped push sales up 27%.
The producer of the iconic Vespa scooters said its earnings
before interests, tax, depreciation and amortisation (EBITDA)
rose to 240.6 million euros ($267.14 million) last year, in line
with a Refinitiv SmartEstimate, while sales amounted to 1.67
billion euros. Revenue rose 9.7% compared to 2019, before the
coronavirus pandemic that hit production and sales.
The company proposed a final dividend payout of 6.5 euro
cents per share, up from 2.6 euro cents paid a year earlier.
Piaggio said it expects to continue growing this year.
By 1301 GMT, the stock was down 0.4%, roughly in line with a
0.2% fall in Milan's all-share index .FTITLMS .
($1 = 0.9005 euros)
(Reporting by Michele Calamaio; editing by Agnieszka Flak)
((Michele.Calamaio@thomsonreuters.com;))