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(Reuters) – Italy’s Piaggio, the maker of the enduring Vespa scooter, reported what it stated was its highest ever annual core revenue margin of 16.9% on Tuesday, citing tight productiveness administration.
That was regardless of a 12% fall in its 2024 earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) in absolute phrases to 286.7 million euros ($302.4 million).
“The Piaggio Group achieved glorious margins in 2024 due to cautious administration of productiveness in a extremely anomalous financial state of affairs,” CEO Michele Colaninno stated in a press release.
“2025 can be characterised by many variables however on the identical time it’s going to present an enchancment in contrast with final 12 months,” Colaninno added.
Piaggio proposed a cost of ultimate dividend of 4 euro cents for 2024, which might convey the whole payout for the 12 months to fifteen.5 euro cents per share.
($1 = 0.9481 euros)
(Reporting by Philippe Leroy Beaulieu in Gdansk; modifying by Milla Nissi)
