Piaggio & C. S.p.a. · MIL:PIA
Piaggio & C — Q3 2023 Earnings Presentation
21 slides from Piaggio & C's earnings presentation, Oct 30, 2023
Slide 1: First Nine Months of 2023 Financial Results
PIAGGIO GROUP First Nine Months of 2023 Financial Results 1. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 2: First Nine Months of 2023 Financial Results
2. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 3: 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 4: First Nine Months of 2023 Financial Results
4. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 5: 9M 2023 - Highlights
9M 2023 - Highlights Another set of record results, despite temporary demand headwinds in some key markets. Net Sales €m 9M '22 1,627 0.0% Matching Prior-Year 9M '23 1,626 all-time high EBITDA €m (Margin %) 9M '22 237 (14.5 %) +13.8% Best Ever 9M '23 269 (16.6%) both absolute and margin on sales (15
Slide 6: First Nine Months of 2023 Financial Results
6. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 7: First Nine Months of 2023 Financial Results
7. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 8: First Nine Months of 2023 Financial Results
8. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 9: First Nine Months of 2023 Financial Results
9. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 10: First Nine Months of 2023 Financial Results
10. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 11: 9M 2023 - Key market demand
9M 2023 - Key market demand Highlights EUROPE USA 2- Wheelers (k units) 2-Wheelers (k units) 1,258 +4.1% 1,310 Europe & Americas 434 +4.4% 453 European demand strengthened across the year, mainly underpinned by a 24 -8.9% 22 -3.0% 599 617 combination of increased adoption of 2-Wheelers, the replacem
Slide 12: First Nine Months of 2023 Financial Results
12. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 13: 9M 2023 - Evolution by business
9M 2023 - Evolution by business Volume evolution by business (k units) Highlights Net Sales evolution by business (€m) -7.3% Net sales topping prior year all-time high mostly driven by widespread positive mix 0.0% and pricing enabled by strong brands. 1,626.9 1,626.2 490.4 +2.4% excl. FX 454.4 CV In
Slide 14: First Nine Months of 2023 Financial Results
14. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 15: 9M 2023 - Evolution by product
9M 2023 - Evolution by product Volume evolution by product (k units) Highlights Net Sales evolution by product (€m) Strong brands and improved mix drove significant average revenue per unit uplift 0.0% 1,626.2 across all product segments. 1,626.9 490.4 -7.3% 0.8 n.m. 5.0 454.4 161.8 169.6 80.3 +4.8%
Slide 16: First Nine Months of 2023 Financial Results
16. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 17: 9M 2023 - EBITDA Evolution
9M 2023 - EBITDA Evolution EBITDA evolution (€m) Highlights Gross margin up by ~40 €m, underpinned by 269.3 significant 2.5 p.p. margin uplift reflecting: *(16.6%) 236.7 *(14.5%) improved mix heightened operating efficiency gradual receding of prior year pressures on energy and freight costs … drove
Slide 18: First Nine Months of 2023 Financial Results
18. First Nine Months of 2023 Financial Results | October 30th 2023
Slide 19: 9M 2023 - To sum up
9M 2023 - To sum up P&L (€m) Highlights Change 2023 vs. 2022 2022 2023 Absolute % % excl. FX* Net Sales 1,626.9 1,626.2 (0.6) 0.0% 2.4% Gross Margin 428.9 468.8 39.9 9.3% 9.1% % on Net Sales 26.4% 28.8% 2.5 236.7 269.3 32.6 13.8% 12.0% 1 D&A up, reflecting recent years’ heightened EBITDA Capital Exp
Slide 20: 9M 2023 - Net Financial Position Evolution & Gross Cash
9M 2023 - Net Financial Position Evolution & Gross Cash NFP 9M 2023 evolution (€m) Highlights Proforma Debt Maturity Profile (€m) Operating Change Change 300 YE ´22 CapEx 9M´23 Cash Flow Working Equity & ~4.6 years Capital Other Net Debt well under control. Free Cash Flow to Equity 250 60€m Of which
Slide 21: 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 21. First Nine Months of 2023 Financial Results | October 30th 2023