Q2 2026 Piaggio & C SpA Earnings Call Transcript
Key Points
- Piaggio & C. SpA (PIAGF) reported a solid revenue growth in the first half of 2026, with an 8.5% increase in sales and a 3.2% rise in revenues.
- The company achieved its highest gross margin in the last six years at 31.6%.
- The EBITDA margin for the first half of 2026 was the highest ever recorded by the company.
- Piaggio & C. SpA (PIAGF) reported its best-ever net financial position for both the second quarter and the first half of the year.
- The company maintained a strong market share in the scooter segment and gained market share in the U.S. market.
- There is uncertainty in the market due to potential impacts from inflation and fluctuating costs of gas and precious metals.
- The company experienced a decline in motorbike volumes, affecting overall market share in that segment.
- Payables increased significantly, raising concerns about cash flow management.
- Market share in Europe remained flat despite a strong sell-out, indicating challenges in aligning with market growth.
- The company faces potential risks in maintaining its financial targets amidst market volatility and economic uncertainties.
Good afternoon. This is the Coruscor conference operator. Welcome and thank you for joining the Fiaggio First Half 2026 financial results conference call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Raffaele Luppotto. Investor Relations of Piaggio. Please go ahead, sir.
Hello, everyone, and welcome to the Piaggio Group's first half of 2026 financial results conference call. The conference call will be hosted by Alessandra Cimonotto, Piaggio Group's CFO, and myself. The delights supported today's presentation are available on the Piaggio Group website.
Before we begin, I would like to remind you that during today's conference call, we may make forward-looking statements based on Piaggio's current expectations and projections
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