Piaggio, the renowned manufacturer of the classic Vespa scooter, unveiled its 2023 financial results on Monday. Despite a slight dip in sales and income compared to 2022, the company’s performance remained steady. In 2023, Piaggio recorded consolidated net sales of 1.99 billion euros, showing a decrease from the previous year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 325 million euros, just under the projected 329 million euros.
While the EBITDA figure fell slightly short of expectations, it still marked a 9% increase from the previous year. In a move to reward shareholders, the scooter and motorbike manufacturer proposed a final dividend of 0.08 euro per share, totaling 0.205 euro per share for the year 2023. Following the announcement of these results, the company’s share prices experienced a 3.3% decline.
Piaggio’s performance reflects a solid financial foundation and a commitment to maintaining shareholder value. As the company continues to navigate market fluctuations, its enduring legacy as the creator of the iconic Vespa scooter remains unwavering. ($1 = 0.9213 euros)
This article was reported by Philippe Leroy Beaulieu and edited by Alvise Armellini.
