May 6, 2013 / 12:20 PM / 5 years ago

Piaggio Q1 EBITDA 30.1 million euros

MILAN, May 6 (Reuters) - Italian motorcycle and scooter-maker Piaggio’s consolidated sales and profit fell in the first quarter, as a decline in European sales was not offset by flat growth in Asia, it said on Monday.

Consolidated sales for the first quarter were 303.4 million euros, down from 343.1 million for the same period a year ago. Net profit was 1.1 million euros, in down from last year’s 3.2 million euros. EBITDA was 30.1 million euros, down from 33 million euros last year.

Sales in EMEA (Europe, the Middle East and Africa) fell 27.2 percent for scooters and 19.3 percent for motorcycles.

In Asia, Piaggio said its sales were flat, while they rose 25 percent in the United States.

Piaggio said it will “continue in the direction of” its 2011-2014 business plan, which targets sales of 1.03 million vehicles in 2014 for consolidated revenue of 2 billion euros.

It said it will bring forward the presentation of its new 2014-2018 business plan to the end of this year, due to the ($1 = 0.7624 euros) (Reporting by Jennifer Clark; editing by Francesca Landini)

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