Piaggio Q1 sales fall 1.6%, net income drops 39%; hurt by currency headwinds

Piaggio & C SpA

08/05/2026 12:36

Overview

Italy vehicle maker's Q1 sales fell 1.6% yr/yr amid margin pressure and currency headwinds

Net income for Q1 dropped 39.5% yr/yr

Company saw vehicle volume growth, led by India, but margin declined

Outlook

Company expects positive effects from new model launches starting in Q2 2026

Piaggio says financial position remains stable, with focus on prudent resource allocation

Company continues investments in products and technology across global production sites

Result Drivers

CURRENCY HEADWINDS - Strengthening euro penalized sales in India, America and Asia, per CEO Michele Colaninno

HIGHER COSTS - Margin decline attributed to increased operating expenses, including higher taxes

INDIA GROWTH - Vehicle sales and revenue in India grew, helping offset declines elsewhere

Company press release: ID:nBIA7ZGCcr

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
EUR 364.90 mln
EUR 355.50 mln (2 Analysts)
Q1 Net Income
EUR 5.3 mln
Q1 Capex
EUR 24.2 mln
Q1 EBIT
EUR 19.9 mln
Q1 EBITDA
EUR 57.5 mln
Q1 EBITDA Margin
16.8%
Q1 EBIT Margin
5.8%
Q1 Pretax Profit
EUR 8.5 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the auto & truck manufacturers peer group is "buy."

Wall Street's median 12-month price target for Piaggio & C SpA is €1.90, about 12.9% above its May 7 closing price of €1.68

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)