(Reuters) -Piaggio’s net profit slumped 49% to 31.7 million euros ($37.0 million) in the first nine months of 2025, the Italian vehicle maker said on Friday, as the market contracts under the weight of U.S. import tariffs and rising commodity costs.
The company, known for its iconic Vespa scooters, sold 346,500 vehicles between January and September, compared to 380,000 units in the same period of 2024.
The manufacturer said its earnings before interest, taxes, depreciation and amortization fell 14.2% to 201 million euros in the nine-month period, corresponding to an EBITDA margin of 16.7%.
“The Piaggio Group managed to maintain very positive margins and once again improve its gross margin with respect to the year-earlier period,” CEO Michele Colaninno said in a statement.
To cope with economic uncertainties at home and globally, Piaggio said it would keep managing its finances and operations carefully, while staying flexible on the investment front.
The group does not provide a precise guidance for the future, but confirmed its long-term product strategies for two-wheelers, commercial vehicles and advanced robotics.
($1 = 0.8575 euros)
(Reporting by Mirko Miorelli in Gdansk, editing by Milla Nissi-Prussak)
