Piaggio reports record H1 results, confirms guidance and investments
27/07/2023 11:12
July 27 (Reuters) - Italy's Piaggio PIA.MI reported
higher sales and a record core profit in the first six months
of 2023 as volume growth in the EMEA and Americas regions more
than compensated for a slight downturn in Asian.
The producer of the iconic Vespa scooters posted 1.17
billion euros of sales, an increase of more than 11%. It
generated 191 million euros at EBITDA level, a 25.6% improvement
compared with last year and the highest ever first-half result
for the group.
The Tuscany-based group confirmed its 2023 guidance, citing
productivity improvements.
"For the rest of the year, all our factories will be
applying the management productivity system that has enabled us
to achieve larger profit margins without substantial price
increases," Piaggio CEO Roberto Colaninno said in a statement.
"We shall continue to move ahead with the investments set
out in our strategic plans for electric mobility and ESG
issues," he added.
(Reporting by Luca Fratangelo
Editing by Keith Weir)
((luca.fratangelo@thomsonreuters.com; +48587696613;))