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Last €2.76 EUR
Change Today -0.054 / -1.92%
Volume 1.8M
PIA On Other Exchanges
As of 11:30 AM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

piaggio & c. s.p.a. (PIA) Snapshot

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52 Week High
04/23/14 - €3.09
52 Week Low
10/10/14 - €1.93
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Current Stock Chart for PIAGGIO & C. S.P.A. (PIA)

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piaggio & c. s.p.a. (PIA) Details

Piaggio & C. SpA, together with its subsidiaries, develops, manufactures, and distributes two-wheeler and commercial motor vehicles. It offers two-wheelers, including scooters, mopeds, and motorcycles, as well as related accessories and spare parts under the Aprilia, Derbi, Gilera, Moto Guzzi, Piaggio, Scarabeo, and Vespa brands names. The company also provides three-and four-wheeler light transport sector vehicles, as well as related spare parts and accessories for commercial and private use under the Ape, Porter, and Quargo brands. In addition, it sells engines to third parties; and provides technical services. The company operates primarily in Europe, the Middle East, Africa, Asia Pacific, and the Americas, as well as India. It distributes its vehicles primarily through dealers and importers. The company was founded in 1884 and is headquartered in Pontedera, Italy. Piaggio & C. SpA is a subsidiary of IMMSI S.p.A.

7,089 Employees
Last Reported Date: 03/20/15
Founded in 1884

piaggio & c. s.p.a. (PIA) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: €1.3M
General Manager of Finance
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

piaggio & c. s.p.a. (PIA) Key Developments

Piaggio & C. SpA Reports Earnings Results for the Full Year 2014

Piaggio & C. SpA reported earnings results for the full year 2014. The company shipped a total of 546,500 vehicles worldwide, for consolidated net sales of EUR 1,213.3 million, against EUR 1,212.5 million in 2013. Net of the exchange-rate effect, Piaggio consolidated net sales were EUR 1,228.6 million, up by 1.3% from 2013.

Piaggio Reports Earnings Results for the Fourth Quarter and Full Year of 2014; Provide Earnings Guidance for 2015

Piaggio reported earnings results for the fourth quarter and full year of 2014. For the quarter, revenue increased 12%. Net sales were up by 9.7%. EBITDA was up by nearly 85%. For the year, revenue went up. The most important countries in terms of growth have been Spain, France, U.K. and Holland, while in Italy and Germany, the demand was a little bit down. Revenues were up by 4% versus previous year, which would've been 7%, excluding the ForEx effect, on the back of a very strong third quarter, which was plus 19% in terms of revenues, and fourth quarter, which was plus 12%. Net debt was up by around EUR 17 million to EUR 493 million, but this was caused by 3 momentary causes. The first cause is the VAT credited delay the company had in India in terms of recovering it, and this has been accounting for around EUR 11 million. The second factor was the VAT recovery delay and the custom duty recovery delay in Vietnam, which has been around EUR 6 million. The third reason was the increase of warehouse, especially in raw materials, because despite the growth the company bolstered in the fourth quarter, expectation in September and October were still higher. And at the end, the reduction in this expectation caused some higher impact to it. Net sales were up by EUR 0.7 million plus 0.1%. Excluding ForEx, it is plus 1.3%. In terms of EBITDA, the company moved from around EUR 147 million to EUR 159 million, so plus EUR 12.5 million EBITDA with the net increase in terms of ratio from 12.1 to 13.1%. EBIT was up by EUR 7 million from EUR 62.6 million to EUR 69.7 million. Income before tax was EUR 26.5 million versus EUR 30.3 million last year. Last year, the company had the one-off item of EUR 24.5 million, which led this year net income at EUR 16.1 million, while last year, it was at minus EUR 6.5 million. Excluding the one-off item from 2013 and 2014, including also, of course, the tax effect for the financial one-off item in 2014, the net income adjusted last year was EUR 18.1 million, which compares to EUR 18.6 million in 2014. Operating cash flow accounted for EUR 105.3 million versus EUR 78.1 million last year. CapEx was around EUR 95 million compared with EUR 87.6 million last year. Total net invested capital is at EUR 906 million versus EUR 867 million The company provided earnings guidance for 2015. The EUR 180 million EBITDA is absolutely in line with company’s thinking. In terms of CapEx, the CapEx for this year is forecasted at around the same level it had last year, so starting between EUR 90 million and EUR 100 million. And in terms of cash flow, the company has target of at around EUR 455 million, EUR 460 million, which is, in line with strategic plan and which would recover these one-off items the company had during last part of the year.

Piaggio & C. SpA, 2014 Earnings Call, Feb 27, 2015

Piaggio & C. SpA, 2014 Earnings Call, Feb 27, 2015


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Company Last Change
Mahindra & Mahindra Ltd 1,225 INR -4.00
Scooters India Ltd 31.90 INR 0.00
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Valuation PIA Industry Range
Price/Earnings 55.4x
Price/Sales 0.7x
Price/Book 2.2x
Price/Cash Flow 8.5x
TEV/Sales 0.0x

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