The Piaggio Group reported a 12% increase in consolidated net sales for the first half (H1) of 2019.
The figure results in a 29.6% increase in net profit over the same period last year.
PG cited the strong performance of the Moto Guzzi V85TT, in addition to Vespa and Piaggio scooters.
The Piaggio Group reported a 12% increase in consolidated net sales for the first half (H1) of 2019, compared to the same period last year. The conglomerate cited the Moto Guzzi V85TT as the main driving force for the uptick.
The increased net sales translate to € 817 million, up from € 729 million in H1 2018. Net profit after tax is up 29.6% at € 34.6 million, up from € 26.7 in the same period last year.
Piaggio Group (PG) owns several motorcycle brands including Aprilia, Derbi, Gilera, Moto Guzzi, Piaggio and Scarabeo. They also produce commercial vehicles. Apart from Aprilia and Moto Guzzi, the other brands produce mostly and scooters exclusively.
In any case, they shipped a total of 321,500 scooters and motorcycles in H1 2019, which a 5.7% increase from 304,000 in H1 2018.
Biggest growth was seen in the Asia Pacific region (up 20.2%), followed by a combined European and the Americas (up 6.7%) and India (up 0.5%).
PG further elaborated that the Vespa brand contributed to a 16% turnover growth. However, it was the three-wheeled Piaggio Mp3 which contributed the largest number “by more than 20%”
But there’s no hiding the success of the Moto Guzzi V85TT, which the group is using as an all-round performer against their rivals. Moto Guzzi contributed a 14% increase in revenue to the group. This is what they have to say, “…The Moto Guzzi brand… achieved a significant sales increase, generated in particular by the excellent results of the new Moto Guzzi V85TT, the all-terrain model that has enjoyed great success since it began shipping in February.”
Interestingly, PG had not published the sales performance of Moto Guzzi motorcycles prior to this. They had only stated MG sales as “encouraging” last year.
Source: Piaggio Group