Piaggio & C. SpA (PGGCY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, this is the Coruscall Conference Operator. Welcome and thank you for joining the Piaggio First Half 2025 Financial Results Conference Call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Raffaele Lupotto, investor relator of Piaggio. Please go ahead, sir. Yes, hello. Thank you very much. Hello, everyone, and welcome to the first half of 2025 Financial Results Conference Call. The conference call will be hosted by Michele Colannino, Piaggio Group Chief Executive Officer, and Alessandro Simonotto, Piaggio Group CFO. Today, we have also the pleasure to have with us the group executive chairman, Matteo Colonino. You can access the slides supporting this conference call on the Internet at Piaggio Group website. As you may expect, before starting the presentation, I need to remind you that during today's conference call, we may use forward-looking statements subject to risk and uncertainties. And I would like also to mention that today we have also invited the press in a listening-only mode. With that said, let me turn the call over to our CEO, Michele Colanino. Yeah, thank you, Raffaele. Good afternoon, ladies and gentlemen. Thank you for joining the conference. Well, just a few words because, you know, I don't have to go deeply in numbers, but just to tell you what happened in the second quarter of 2025. I have to point out two main things that I think are very, very interesting for analyzing the Piaggio numbers that are the gross margin and the EBDA. The gross margin of 34.4 is one of...