Interim Report on Operations as of 30 September 2021

Interim Report on Operations as of 30 September 2021

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This report is available on the Internet at:

www.piaggiogroup.com

Contacts

Head of Investor Relations

Raffaele Lupotto

Email: [e-mail]

Tel. [phone]

Fax [phone]

Piaggio & C. SpA

Viale Rinaldo Piaggio 25

56025 Pontedera (PI)

Management and Coordination

IMMSI S.p.A.

Share capital €207,613,944.37, fully paid up

Registered office: Viale R. Piaggio 25, Pontedera (Pisa)

Pisa Register of Companies and Tax Code 04773200011

Pisa Economic and Administrative Index no. 134077

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TABLE OF CONTENTS
Interim Directors' Report ......................................................................................................................	5
Introduction ............................................................................................................................................	6
Health emergency - COVID-19 ................................................................................................................	7
Key operating and financial data............................................................................................................	8
Group profile .........................................................................................................................................	10
Significant events in the first nine months of 2021...............................................................................	13
Financial position and performance of the Group ................................................................................	16
Consolidated income statement ......................................................................................................	16
Operating data .................................................................................................................................	18
Consolidated statement of financial position .................................................................................	20
Consolidated Statement of Cash Flows............................................................................................	22
Alternative non-GAAP performance measures................................................................................	23
Results by type of product.....................................................................................................................	24
Two-wheelers...................................................................................................................................	24
Commercial Vehicles ........................................................................................................................	27
Events occurring after the end of the period ........................................................................................	29
Operating outlook.................................................................................................................................	30
Transactions with related parties .........................................................................................................	31
Economic glossary.................................................................................................................................	32
Condensed Consolidated Interim Financial Statements as of 30 September 2021...............................	35
Consolidated Income Statement ...........................................................................................................	36
Consolidated Statement of Comprehensive Income .............................................................................	37
Consolidated Statement of Financial Position ......................................................................................	38
Consolidated Statement of Cash Flows.................................................................................................	40
Changes in Consolidated Shareholders' Equity .....................................................................................	41
Notes to the Consolidated Financial Statements ..................................................................................	42

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Piaggio Group

Interim Directors' Report

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