(Reuters) -Italy’s Piaggio said on Tuesday its net profit fell 42.2% to 30.1 million euros ($34.84 million) in the first half of 2025 in a contracting market for motor vehicles.
Piaggio, known for its iconic Vespa scooters, sold 238,400 vehicles between January and June this year, compared to 270,100 in the first half of 2024.
“In historical moments like these, with international trade disputes and increased geopolitical tensions, being able to remain flexible, controlling liquidity and financial management, is essential,” CEO Michele Colaninno said in a statement.
The manufacturer said its earnings before interest, taxes, depreciation and amortization (EBITDA) fell 15.3% year-on-year to 147.1 million euros, with an EBITDA margin of 17.3%.
The group also pledged to distribute an interim dividend of 4 euro cents per share on its 2025 results.
($1 = 0.8639 euros)
(Reporting by Gaia Neiman in Gdansk, editing by Milla Nissi-Prussak)
