Vespa maker Piaggio posts record margin despite 'anomalous' economy

Piaggio hits record profit margins in 2024 despite economic challenges

Robert Besser
08 Mar 2025, 11:01 GMT+10

Vespa maker Piaggio posts record margin despite 'anomalous' economy

Italy's Piaggio, the maker of the iconic Vespa scooter, reported record-high core profit margins for 2024 despite a challenging economic environment
The company posted a core profit margin of 16.9 percent, its highest ever, even as earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 12 percent to 286.7 million euros (US$302.4 million)
Piaggio proposed a final dividend of four euro cents for 2024, bringing the total annual payout to 15.5 euro cents per share

PONTEDERA, Italy: Italy's Piaggio, the maker of the iconic Vespa scooter, reported record-high core profit margins for 2024 despite a challenging economic environment.

The company posted a core profit margin of 16.9 percent, its highest ever, even as earnings before interest, taxes, depreciation, and amortization (EBITDA) fell 12 percent to 286.7 million euros (US$302.4 million).

"The Piaggio Group achieved excellent margins in 2024 thanks to careful management of productivity in a highly anomalous economic situation," said CEO Michele Colaninno in a statement.

Looking ahead, Colaninno expressed cautious optimism. "2025 will be characterized by many variables, but at the same time, it will show an improvement compared with last year," he added.

Piaggio proposed a final dividend of four euro cents for 2024, bringing the total annual payout to 15.5 euro cents per share.

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