Piaggio Group: 2025 draft financial statements

Piaggio Group Chief Executive Officer, Michele Colaninno: "2025 was certainly a complex year worldwide, with considerable, exogenous macroeconomic factors, such as new trade tariffs, the rising cost of raw materials, and international currency trends, which showed a marked degree of instability.

This context notwithstanding, the Piaggio Group nevertheless managed to maintain very positive margins and once again improve its gross margin percentage with respect to the year-earlier period, through processes aimed at improving business productivity.

Cash flow management remains one of the key elements in maintaining flexibility across all markets, given the complexity of analysing contingent events.

The increase in depreciation during the year is mainly due to the start of production of electric motors required by the European Green Deal.

Investments in production sites are proceeding according to plan, allowing us to allocate production in such a way as to efficiently serve different markets.

Although it is still difficult to provide precise guidance for the immediate future, the Group confirms its long-term product strategies in two-wheelers, commercial vehicles and advanced robotics, which are intended to combine development and innovation, so highlighting the strength and value of our brands on world markets to further consolidate our position among the world's leading market leaders."