Setback for Piaggio’s profitability. In 2025, the group recorded a optimistic web revenue of 34 million, down 49.4% in comparison with a yr in the past, towards revenues of 1,501.9 million euros (-11.7% in comparison with 1,701.3 million euros in 2024). The firm introduced this in a be aware, with the board of administrators deciding to not distribute a stability on the dividend (the interim dividend, already accepted on 29 July 2025, was equal to 4 cents per share). The industrial gross margin within the interval amounted to 457.6 million euros (-7.9%), with an influence on turnover of 30.5% (29.2% in 2024). The consolidated ebitda was lastly equal to 250.8 million euros (-12.5%), whereas the ebitda margin was equal to 16.7% (16.9% at 31 December 2024). Net monetary debt at 31 December 2025 amounted to 577.6 million euros (534 million euros recorded at 31 December 2024). The improve primarily displays the discount in commerce debt. In the reference interval, the Group budgeted investments of 140.6 million euros (182.7 million euros as of 31 December 2024), whereas general gross sales worldwide had been 445,200 autos (-7.6% from 481,600 autos in 2024).
Complex finances
«2025 was actually a fancy yr on a world degree” with factors such as “the brand new commerce duties, the rise in the price of uncooked supplies, and the pattern of worldwide currencies – commented Michele Colaninno, CEO of the Piaggio Group – In this context, the Piaggio Group nonetheless managed to consolidate attention-grabbing margins”. The investments “within the manufacturing websites are continuing in accordance with plan, and this enables us to have the ability to allocate manufacturing in such a means as to have the ability to observe the completely different markets effectively – continued the CEO – Although it’s nonetheless difficult to make exact predictions relating to the close to future, the long-term product methods in gentle two-wheel mobility, in industrial autos and in superior robotics are confirmed”. Looking at the sectors, as of 31 December 2025 the Group has sold 329,000 two-wheeled vehicles worldwide, for a turnover net of 1,155.4 million euros (359,900 two-wheeled vehicles sold in 2024 for 1,298.3 million euros). The figure also includes spare parts and accessories, which recorded a turnover of 148.8 million euros (153.3 million in 2024). 17.5% On the North American scooter market, a share of 34.7% was achieved. In the commercial vehicle sector in 2025 the Piaggio Group sold 116,200 units (121,700 as of 31 December 2024) with a net turnover of 346.6 million euros (403 million euros as of 31 December 2024). 59.9 million euros (62.9 million euros in 2024).
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