Piaggio & C. SpA (MIL:PIA)

Q1 2025 Piaggio & C SpA Earnings Call Transcript

May 9, 2025 / 10:59 AM GMT

Release Date Price: €1.65 (-7.10%)

Transcript

Key Points

Positve

Piaggio & C. SpA (PIAGF) maintained a strong gross margin of 30.5% despite a decline in revenues.
The company has improved its processes and productivity management since 2022, starting from a 25% gross margin.
Piaggio & C. SpA (PIAGF) is investing in electric mobility, particularly in China and India, to align with market trends.
The company is managing cash flow effectively, with a reduction in inventory value by 20 million compared to last year.
Piaggio & C. SpA (PIAGF) is exploring new markets, such as Africa, which is seen as a promising opportunity similar to India.

Negative

Overall market demand for two-wheel and four-wheel vehicles has declined globally, affecting revenues.
The USA market is down by 10%, with uncertainty around tariffs impacting consumer confidence.
The Asian market, particularly China, is still suffering, with low numbers for imported vehicles.
Electric mobility in India is a low-margin business, and the company is cautious about pushing aggressively.
The geopolitical situation and currency fluctuations pose challenges to maintaining profitability and forecasting future performance.

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

PIA.MI - Piaggio & C SpA
Q1 2025 Piaggio & C SpA Earnings Call
May 09, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. This is the Coco conference operator. Welcome and thank you for joining the Piro first quarter 2025 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 and 0 on the telephone. At this time, I would like to turn the conference over to Mr. Raffaele Luporto, investor relator of Piaro. Please go ahead, sir.

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Unidentified_2 [2]
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