By Wade Thiel
It’s Looking Good for Piaggio Group
In a recent press release by Piaggio Group, it was shown that the company had a very good year in 2019. The company called 2019 “significantly better than the previous year.” That’s not an understatement, according to the company’s reported numbers.
The Piaggio Group saw consolidated revenue of 1,521.3 million euros, which is up by 9.5 percent when compared to 2018. Industrial gross margin for the company was 458.8 million euros. That number is up by 8.3 percent. Earnings before interest, taxes, depreciation, and amortization were up by 12.9 percent to 227.8 million euros. The net profit for the company was 46.7 million euros. That number is up a whopping 29.6 percent.
The Piaggio Group owns a number of brands that are well-known, including Aprilia, Moto Guzzi, Gilera, Vespa, Derbi, Scarabeo, and Piaggio. The Piaggio Group also owns a couple of commercial vehicle brands, corporate business brands, and a financial services business. The press release I saw did not distinguish two-wheeled vehicle sales from the rest of the brands and businesses under the group’s umbrella.
With that said, I would assume that two-wheeled vehicle sales are doing pretty well. The company has some good momentum with Aprilia, Moto Guzzi, and Vespa. The others seem to be doing well, too. Hopefully, all that profit will be reinvested in the company to make even cooler motorcycles.
Source:: Piaggio Did Well in 2019