(Reuters) -Italy’s Piaggio posted first-quarter 2025 consolidated revenue of 370.7 million euros ($416.82 million), down from 428 million euros in the same period of 2024, the company said on Friday.
Piaggio sold 106,800 vehicles in the first three months of the year, compared to 120,300 in the first quarter of 2024.
Its gross industrial margin reached 30.5% of revenue, despite lower sales in some geographic areas.
“The beginning of the year was still characterised by international markets awaiting stability and the persistence of macroeconomic and geopolitical complexities, which we continue to address with careful management even in competitive contexts not always favourable to European industries,” CEO Michele Colaninno said in a statement.
The Vespa maker’s shares were down 8.2% at 1226 GMT, having touched their lowest since April 2020.
($1 = 0.8894 euros)
(Reporting by Laura Contemori, editing by Kirsten Donovan)
