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Piaggio chairman satisfied with 2007, confirms plans for 2008-2010

January 21, 2008
Filed under Features

Piaggio SpA Chairman Roberto Colaninno expressed his satisfaction with the company’s 2007 results due to higher sales and EBITDA over the previous year as well as a decrease in debt, according to Thomas Financial.

In the first nine months of 2007, Piaggio sales rose 6.5 percent to euro 1.37 billion ($1.9 billion). The EBITDA was up 9.2 percent to euro 200.4 million ($289 million).

Colaninno confirmed Piaggio’s programs and projects for 2008-2010, which included international expansion but omitted financial details.

“Next week we go to India,” he said, “where we will make a news conference to update on projects, programs and agreements reached with important Indian and other companies.”

Piaggio’s goal is to raise its EBITDA margin to about 14 percent in 2009, up from 12.7 percent in 2006.

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