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 and assumptions of the management of the Company. In particular, among other statements, certain statements with regard to management objectives, trends in results of operations, margins, costs, return on equity, risk management, competition, changes in business strategy and the acquisition and disposition of assets are forward-looking in nature. Words such as 'expects', 'anticipates', 'scenario', 'outlook', 'targets', 'goals', 'projects', 'intends', 'plans', 'believes', 'seeks', 'estimates', as well as any variation of such words and similar expressions, are intended to identify such forward-looking statements. Those forward-looking statements are only assumptions and are subject to risks, uncertainties and assumptions that are difficult to predict because they relate to events and depend upon circumstances that will occur in the future. Therefore, actual results of the Company may differ materially and adversely from those expressed or implied in any forward-looking statement and the Company does not assume any liability with respect thereto. Factors that might cause or contribute to such differences include, but are not limited to, global economic conditions, the impact of competition, or political and economic developments in the countries in which the Company operates. Any forward-looking statements made by or on behalf of the Company speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect any change in its expectations with regard thereto, or any change in events, conditions or circumstances which any such statement is based on. The reader is advised to consult any further disclosure that may be made in documents filed by the Company with Borsa Italiana S.p.A (Italy).

The Manager in Charge of preparing the Company financial reports hereby certifies pursuant to paragraph 2 of art. 154-bis of the Consolidated Law on Finance (Testo Unico della Finanza), that the accounting disclosures of this document are consistent with the accounting documents, ledgers and entries.

This presentation has been prepared solely for the use at the meeting/conference call with investors and analysts at the date shown below. Under no circumstances may this presentation be deemed to be an offer to sell, a solicitation to buy or a solicitation of an offer to buy securities of any kind in any jurisdiction where such an offer, solicitation or sale should follow any registration, qualification, notice, disclosure or application under the securities laws and regulations of any such jurisdiction.

3.

Full Year 2023 Financial Results | March 4th 2024

FY 2023 - Highlights

Breaking record operating results, despite temporary demand headwinds in some key markets, …

FY '22

FY '23

NET SALES €m, Y/Y change %

2,087

-4.4%

1,995 ∆23/22

ROE (*)

21.9%

EBIT €m, Y/Y change %, (Margin %)

FY '22

159

(7.6%)

+13.8%

FY '23

181

(9.1%)

∆23/232

Best Ever

Best Ever

FY '22

FY '23

EBITDA €m, Y/Y change %, (Margin %)

298

(14.3%)

+9.0%

FY '22

325

(16.3%) ∆23/22

FY '23

EPS €, Y/Y change %

0.239

+7.3%

0.257 ∆23/22

Best Ever

Best Ever

* Return on Equity

5.

Full Year 2023 Financial Results | March 4th 2024

FY 2023 - Highlights

…and adding another step in the path toward heightened profitability.

EBITDA €m (Margin %)

325

17.0%

320

298 16.3%

EBIT €m (Margin %)

200

180

180

12.0%

11.0%

NET PROFIT €m (Margin %)

9.0%

8.0%

100

91

270

14.5%

15.0% 241

228

16.0%

15.0%

159

160

9.1%

140

10.0%

9.0%

85

7.0%

80

6.0%

220

202

14.4%

171

170159 162

147

13.1%

13.0%

14.2%

14.4%

186

14.3%

14.0%

13.0%

120

113

105

100

93

7.6%

6.9%

80

72

71 6.7%

70

6…

6361

57

60

8.0%

7.0%

6.0%

60

47

40

36

3.1%

2.6%

20

60 4.6% 5.0%

4.1%

3.6%

4.0%

3.0%

31

2.4%

2.0%

12.5%

18

120

5.7%

12.0%

12.1%

70

11.0%

5.4%

5.4%

40

5.2%

4.6%

20

4.4%

5.0%

4.0%

20

16

14

1.5%

12

1.5%

1.3%

1.1%

0.9%

0

1.0%

0.0%

2013

2014

2015

2016

2017

2018

2019*

2020

2021

2022

2023

2013

2014

2015

2016

2017

2018

2019*

2020

2021

2022

2023

* Since 2019 ex IFRS 16

6.

Full Year 2023 Financial Results | March 4th 2024

2013

2014

2015

2016

2017

2018

2019*

2020

2021

2022

2023

Nurturing brand community with ultimate client experiences on track, on roads and on trails.

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Piaggio & C. S.p.A. published this content on 04 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 March 2024 14:37:06 UTC.