Wednesday, May 20

PIAGGIO BACK IN BLACK

The Italian Piaggio Group returned to profit in 2014 after sustaining a loss of 6.5 million Euro in 2013.

The turnaround was dramatic:  group next profit for the latest financial year to December 31 was 16.1 million Euro, a difference of 22.6 million Euro.

The profit came despite a further decline in the volume of sales.  The 2014 year saw the company move 546,500 units, down from 555,600 in 2013, and well below the 2012 figure of 615,500 units.

However, the revenue from those fewer sales was up 800,000 Euro - from 1212.5 million Euro in 2013 to 1213.3 million Euro in 2014.

With a further decline in sales volumes came another reduction in employee numbers, from 7688 in 2013 to 7510 in 2014.

Piaggio Group is the parent company of Aprilia, Derbi, Gilera, Moto Guzzi, Piaggio scooters, Piaggio commercial vehicles and the jewel in the crown, Vespa.