Piaggio Group: 2021 Draft Financial Statements
Piaggio Group Chairman and CEO Roberto Colaninno: “The results approved today by the Piaggio Group Board of Directors reflect a clear improvement in all the key business and financial indicators, confirming the strength of the Group’s strategy and its ability to respond effectively to the challenging situation. Net sales rose by 27% from 2020 and by 9.7% from 2019, while net debt at 31 December 2021 was down by approximately 43.3 million euro from 2020 and approximately 49.4 million euro from 2019.”
Consolidated net sales 1,668.7 million euro, up 27% (+28.1% at constant exchange rates)
Industrial gross margin 462.5 million euro, up 24.2% , 27.7% return on net sales (28.3% at 31.12.2020)
Profit before tax 93.7 million euro, up 86.7%
Net profit 60.1 million euro, almost doubling from 31.3 €/mln net profit at 31.12.2020 (+28.7% from 31.12.2019)
536,000 vehicles shipped worldwide, up by 11%
In the year to 31 December 2021, the Piaggio Group sold 536,000 vehicles worldwide (482,700 in 2020), an increase of 11%, and reported consolidated net sales of 1,668.7 million euro. Performance was positive in all geographical regions, with particularly strong turnover growth in EMEA & Americas (+32.9%) and Asia Pacific (+33.4%; +35.1% at constant exchange rates). In India, where the market is still feeling the effects of the pandemic, turnover was substantially unchanged (-0.8%; +2.5% at constant exchange rates).
Performance was very positive in the motorcycle sector, and both the Aprilia and the Moto Guzzi brands closed the year with record revenues. There was a strong market response to the new Aprilia RS and Aprilia Tuono bikes with 660 cc engines, and to the Moto Guzzi V7 and V85TT.
On 23 November 2021, the Piaggio Group presented a number of new products at the EICMA tradeshow in Milan. These included: Aprilia Tuareg 660, Aprilia Tuono 660 Factory, Moto Guzzi V100 Mandello, Moto Guzzi V85 TT Guardia d’Onore, Piaggio 1 and Vespa Elettrica (RED).
2021 closed with better-than-expected results on both the European and the Asian markets, and demonstrated the ability of the Group to respond to the uncertainties affecting the world economy.
Thanks to a portfolio of unrivalled brands, Piaggio will continue to grow in 2022, confirming its planned investments in new products and new factories, even though the current international geopolitical tensions.