Piaggio & C. S.p.a. · MIL:PIA
Piaggio & C — Piaggio Group — FY2007 Earnings Presentation
11 slides from Piaggio & C's earnings presentation, Mar 7, 2008
Slide 1: Piaggio Group Full Year '07 Operating Results
Piaggio Group Full Year ’07 Operating Results Milan, March 7th 2008 1
Slide 2: Disclaimer
Disclaimer THESE SLIDES HAVE BEEN PREPARED BY THE COMPANY SOLELY FOR THE USE AT THE ANALYST CONFERENCE CALL ON PIAGGIO’S FULL YEAR 2007 CONSOLIDATED RESULTS. THE INFORMATION CONTAINED HEREIN HAS NOT BEEN INDEPENDENTLY VERIFIED. NONE OF THE COMPANY OR REPRESENTATIVES SHALL HAVE ANY LIABILITY WHATSOEV
Slide 3: Financial Statement (IFRS-IAS)
Financial Statement (IFRS-IAS) Year ’07 Vs Year ’06 (mln €) 3
Slide 4: Piaggio Group operating results (IFRS-IAS) Year '07 Vs Year '06
Piaggio Group operating results (IFRS-IAS) Year ’07 Vs Year ‘06 Net Sales EBITDA (mln €) 1.692,1 (mln €) 1.607,4 226,1 204,0 +5,3% +10,8% % margin 12,7% 13,4% ‘06 ‘07 ‘06 ‘07 EBIT Income before Tax (mln €) (mln €) 136,6 114,2 103,5 88,2 % margin 7,1% +19,6% 8,1% +17,3% 6,1% % margin 5,5% ‘06 ‘07 ‘06
Slide 5: Net Sales trend Year '07 Vs Year '06 (mln €)
Net Sales trend Year ’07 Vs Year ’06 (mln €) +5.3% +5.3% 1.692,1 1.692,1 1.607,4 1.607,4 n.s. 21,1 71,8 -13.0% Others 15,0 195,2 Guzzi 82,6 176,4 +10.7% Spare Parts 348,3 322,2 +8.1% 223,9 Aprilia Ltv India 194,1 +15.4% 71,3 119,8 +1.4% Ltv Eu 127,3 -5.9% Derbi 70,3 Moto 260,9 +6.5% 277,9 +6.0% 1200
Slide 6: Net Sales trend by region Year '07 Vs Year '06
Net Sales trend Year ‘07 Vs Year ’06 (mln €) +5.3% 1.692,1 100% 1.607,4 +10.2% 15,0 0,9% RoW 13,6 52,0 3,1% 38,5 +35.1% Asia Pacific 238,0 14,1% 206,4 +15.3% India -3.6% 79,3 4,7% America 82,3 RoE 647,5 +13.9% 737,7 43,6% Italia 619,0 -7.9% 570,0 33,7% FY ‘06 FY ‘07 FY ‘07 Note: 2006 Net Sales inclu
Slide 7: Total Volumes trend Year '07 Vs Year '06
Total Volumes trend Year ‘07 Vs Year ’06 (’000 units, sell in) +4.1% +4.1% 708,5 708,5 680,8 680,8 -6.9% 19,5 Guzzi -12.7% 8,9 LTV Eu 20,9 10,2 154,4 +5.8% 121,3 LTV India 139,4 +10.7% Aprilia 114,6 +7.1% 39,0 Derbi 36,4 Moto 69,7 +16.7% 81,4 Piaggio 519,6 +3.8% 539,3 450,7 +0.6% 453,3 Scooter FY ‘0
Slide 8: EBITDA Evolution (IFRS-IAS) Year '07 Vs Year '06
EBITDA Evolution (IFRS-IAS) Year ’07 Vs Year ’06 (mln €) 1Q ’07/’06: + 3.4% 2Q ’07/’06: +10.3% 3Q ’07/’06: +12.4% 4Q ’07/’06: +25.1% + 10,8% 7,0 (0,3) 226,1 15,4 204,0 13,4% EBITDA Margin 12,7% FY ‘06 ∆ Gross Margin ∆ Opex ∆ Amortiz. FY ‘07 8
Slide 9: Net Result Evolution (IFRS-IAS) Year '07 Vs Year '06
Net Result Evolution (IFRS-IAS) Year ’07 Vs Year ’06 (mln €) Income Before Tax +17,3% - 14,7% 22,4 (7,0) (25,7) 70,3 60,0 ∆ Financial FY ‘06 ∆ Ebit ∆ Tax FY ’07 Expenses 9
Slide 10: Group Balance Sheet (IFRS-IAS) Year '07 Vs Year '06
Group Balance Sheet (IFRS-IAS) Year ‘07 Vs Year ’06 (mln €) 10
Slide 11: PFN Evolution (IFRS-IAS) Year '06 vs Year '07
PFN Evolution (IFRS-IAS) Year ’06 vs Year ‘07 (mln €) - Receivable: 17,1 - Inventories: 7,8 - Payables: (45,8) - Others : 41,5 - AuCap Stock Options: 6,3 - Buy Back: (26,8) - Dividends (11,9) - Exchange & Others: 5,3 20,6 (91,7) 3,4 (27,3) (269,8) (318,0) 143,2 Cash Flow Generation + 48,2 Operating