Vespa maker Piaggio misses FY consensus on EBITDA after drop in sales
04/03/2024 12:11
March 4 (Reuters) - Italy's Piaggio PIA.MI , producer
of the iconic Vespa scooter, on Monday posted falling sales and
income just below forecast as it presented its 2023 results.
Consolidated net sales stood at 1.99 billion euros ($2.16
billion), down from 2.09 billion euros in 2022, while earnings
before interest, taxes, depreciation and amortisation (EBITDA)
amounted to 325 million euros.
The EBITDA figure was slightly below the 329 million-euro
company provided consensus, but was also up 9% from a year
earlier.
The scooter and motorbike maker proposed to pay a final
dividend of 0.08 euro per share for a total of 0.205 euro per
share in 2023.
Shares in the company traded 3.3% lower after the
publication of the results.
($1 = 0.9213 euros)
(Reporting by Philippe Leroy Beaulieu, editing by Alvise
Armellini)
((Philippe.LeroyBeaulieu@thomsonreuters.com;))