Piaggio & C. S.p.a. · MIL:PIA
Piaggio & C — Q1 2023 Earnings Presentation
20 slides from Piaggio & C's earnings presentation, May 5, 2023
Slide 1: First Quarter of 2023 Financial Results
PIAGGIO GROUP First Quarter of 2023 Financial Results 1. First Quarter of 2023 Financial Results | May 5th 2023
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements regarding future events and future results of Piaggio & C S.p.A. (the “Company”) that are based on the current expectations, estimates, forecasts and projections about the industries in which the Company operates, and on the beliefs an
Slide 3: First Quarter of 2023 Financial Results | May 5 th 2023
3. First Quarter of 2023 Financial Results | May 5th 2023
Slide 4: First Quarter of 2023 Financial Results | May 5 th 2023
4. First Quarter of 2023 Financial Results | May 5th 2023
Slide 5: Q1 2023 - Highlights
Q1 2023 - Highlights Outstanding start to the year with all key metrics reaching an all-time high Net Sales €m Q1 '22 456 Q1 '23 547 +20.0% Best Ever EBITDA €m (Margin %) Q1 '22 60 (13.2 %) +34.9% Best Ever Q1 '23 81 (14.8 %) (14.6% ex. FX ) EPS € Q1 '22 0.35 +91.5% Best Ever Q1 '23 0.68 Net Debt €m
Slide 6: First Quarter of 2023 Financial Results | May 5 th 2023
6. First Quarter of 2023 Financial Results | May 5th 2023
Slide 7: First Quarter of 2023 Financial Results | May 5 th 2023
7. First Quarter of 2023 Financial Results | May 5th 2023
Slide 8: First Quarter of 2023 Financial Results | May 5 th 2023
8. First Quarter of 2023 Financial Results | May 5th 2023
Slide 9: First Quarter of 2023 Financial Results | May 5 th 2023
9. First Quarter of 2023 Financial Results | May 5th 2023
Slide 10: First Quarter of 2023 Financial Results | May 5 th 2023
10. First Quarter of 2023 Financial Results | May 5th 2023
Slide 11: Key market demand
Q1 2023 - Key market demand Highlights EUROPE USA 2-WHEELERS (K UNITS) 2-Wheelers (k units) 128 -2.1% 126 341 +5.6% 360 Europe & Americas 6 5 European demand had a solid start to the year, despite a challenging basis for -14.9% 155 +0.4% 156 comparison, with over 50cc segments leading the advance. C
Slide 12: First Quarter of 2023 Financial Results | May 5 th 2023
12. First Quarter of 2023 Financial Results | May 5th 2023
Slide 13: Evolution by business
Q1 2023 - Evolution by business Volume evolution by business (k units) Highlights Net Sales evolution by business (€m) The year started off on a positive footing, with healthy growth in volume and positive +9.2% pricing driving net sales to a new all-time high; all geographies positively contributin
Slide 14: First Quarter of 2023 Financial Results | May 5 th 2023
14. First Quarter of 2023 Financial Results | May 5th 2023
Slide 15: Evolution by product
Q1 2023 - Evolution by product Volume evolution by product (k units) Highlights Net Sales evolution by product (€m) Synchronised growth in all product segments; top brands drove 2-Wheelers' revenue +9.2% upsurge to all-time highs and significant average revenue per unit uplift. +20.0% 154.9 546.8 14
Slide 16: First Quarter of 2023 Financial Results | May 5 th 2023
16. First Quarter of 2023 Financial Results | May 5th 2023
Slide 17: EBITDA Evolution
Q1 2023 - EBITDA Evolution EBITDA evolution (€m) Highlights Remarkable top-line growth coupled with heightened efficiency drove EBITDA uplift to 81€m with margin on sales @ 14.8%, both 81 representing an all-time high in Q1. *(14.8%) **(14.6%) Gross margin grew by ~31 €m, underpinned 60.1 by the top
Slide 18: To sum up
Q1 2023 - To sum up P&L (€m) Highlights Change 2023 vs. 2022 2022 2023 Absolute % % excl. FX* Net Sales 455.8 546.8 91.0 20.0% 20.4% Gross Margin 116.8 148.2 31.5 27.0% 26.5% % on Net Sales 25.6% 27.1% 1.5 60.1 81.0 21.0 34.9% 33.7% 1 D&A up, reflecting recent years’ heightened EBITDA Capital Expend
Slide 19: Net Financial Position Evolution & Leverage
Q1 2023 - Net Financial Position Evolution & Leverage 3.5x NFP 2023 evolution (€m) Highlights Leverage* (x) 3.0x YE ´22 Operating Change CapEx Change Q1 ´23 560 Cash Flow Working Equity & Capital Other Q1 Net Debt dynamic driven by seasonal Working Capital cash absorption, magnified by the high leve
Slide 20: Investor Relations Office
Investor Relations Office E: investorrelations@piaggio.com T: +39 0587 272286 W: www.piaggiogroup.com Raffaele Lupotto Executive Vice President Head of Investor Relations E: r.lupotto@piaggio.com T: +39 0587 272596 20. First Quarter of 2023 Financial Results | May 5th 2023