After the excellent quarters that highlighted the more than satisfactory results recorded by the Piaggio Group during the year, the most awaited confirmation arrived, namely the final balance sheet for 2021. The Board of Directors, chaired by Roberto Colaninno, President and CEO of the Piaggio Group approved the draft financial statements for the 2021 financial year, the consolidated financial statements for the 2021 financial year and the consolidated non-financial statement as at 31 December 2021
The most significant data concerns consolidated revenues equal to 1,668.7 million euros which means an increase of 27% (+ 28.1% at constant exchange rates), and of 9.7% compared to 31.12.2019. Not least is the gross industrial margin which, with 462.5 million euros, is up by 24.2%, and by 27.7% in relation to turnover. Net profit was 60.1 million euros, almost double compared to 31.3 € / million in 2020 (+ 28.7% compared to 31.12.2019)
And to enjoy these more than comforting data are the shareholders, who will receive a dividendo a 6,5 cents per share, for a total dividend, including interim dividend, of 15 cents. This means more than double what it received in 2020, as the dividend was 6.3 cents per share.
Roberto Colaninno, Chairman and CEO of the Piaggio Group stated: “The results approved today by the Piaggio Group’s Board of Directors show a clear improvement in all the main economic and equity indicators, confirming the validity of the strategy undertaken and the Group’s ability to respond effectively to the challenges posed by the context. Net revenues grew by 27% compared to 2020 and by 9.7% compared to 2019, while net financial debt at 31 December 2021 was reduced by approximately 43.3 million euros compared to 2020 and by approximately 49, 4 million compared to 2019 “.
Piaggio Group, the 2021 financial statements in numbers
Crunching a few numbers, which when they are positive is always a pleasure, it should be emphasized that in all of 2021 the Group sold 449,700 two-wheeled vehicles worldwide, an increase of 16.9% compared to 384,700 as at 31 December 2020. The figure also includes spare parts and accessories, which recorded a turnover of 139.4 million euros (+ 16.8% compared to 119.4 million in 2020).
During 2021, the sales of motorcycles and scooters marked a “+” sign in all the geographical areas where the Group is present. Above all, however, the Indian market stands out dwhere volumes increased by 36.4%. Slightly less but the volume increases equally of the Asia Pacific region equal to 26.1%. In the EMEA & Americas area, volumes increased by 8.1%, mainly driven by the increase in the American market (+ 50.6%) and the Italian one (+ 18.8%).
Scooters were instrumental in Europe where the Piaggio Group holds a 22.7% share. The performance in the North American scooter market was very good, where 35% was reached (28.2% in 2020). In North America, the Group is also committed to consolidating its presence in the motorcycle segment as well, through the Aprilia and Moto Guzzi brands.
The scooter sector was the one that gave the Group the greatest boost, given the double-digit increase in sales at a global level. On all models, the palm of the best goes to the Vespa brand which has seen volumes grow 26% compared to 2020. The high-wheel models Piaggio Beverly and Piaggio Liberty follow, and those of the Aprilia brand.
The motorcycle sector is also doing very well where the Aprilia and Moto Guzzi brands closed 2021 with the highest revenues ever. Among the most popular models are the new Aprilia RS and Aprilia Tuono with 660 cc engines, and the Moto Guzzi V7 and V85TT.