Piaggio & C. SpA (MIL:PIA)

Q4 2024 Piaggio & C SpA Earnings Call Transcript

Mar 4, 2025 / 10:59 AM GMT

Release Date Price: €1.94 (-11.14%)

Transcript

Key Points

Positve

Piaggio & C. SpA (PGGCY) achieved its best-ever EBITDA margin percentage on net revenues in 2024.
The company reported an increase in gross margin percentage to 29.2%.
Piaggio & C. SpA (PGGCY) has successfully managed its productivity and cash flow generation.
The company is launching its first-ever electric vehicle in April, indicating a move towards electrification.
Piaggio & C. SpA (PGGCY) has a stable debt profile with a maturity of roughly four years, ensuring financial security.

Negative

The company experienced a decline in revenue due to a destocking strategy, resulting in a EUR110 million impact.
Debt levels have risen as a consequence of the destocking process.
The Asian market, particularly China, remains challenging with flat or negative growth.
High interest rates in the United States have negatively impacted the market.
The European market is stagnant, affected by changes in Euro 5+ legislation and high interest rates.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PIA.MI - Piaggio & C SpA
Q4 2024 Piaggio & C SpA Earnings Call
Mar 04, 2025 / NTS GMT

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Conference Call Participants
=====================
* Raffaele Lupotto
* Michele Colaninno
* Monica Bosio
* Emanuele Gallazzi
* Alessandra Simonotto
* NiccolÃ² Guido Storer
* Gianluca Bertuzzo
* Michele Baldelli

=====================
Presentation
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Operator [1]
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Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Piaggio full-year 2024 financial results conference call. (Operator Instructions) At this time, I would like to turn the conference to Mr. Raffaele Lupotto, Investor Relations of Piaggio.

Please go ahead, sir.

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Raffaele Lupotto, [2]

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