(Reuters) – Italian scooter manufacturer Piaggio reported a 13.8% jump in its nine-month core profit on Monday, as strong performance in the Americas and Europe, Middle East and Africa (EMEA) regions offset a temporary slowdown in Asia.
“The improvement in customer perception of our brands and products around the world has enabled us to achieve very interesting margins, which we should consolidate in the coming years,” CEO Michele Colaninno said in a statement.
The producer of the eponymous two-wheelers said its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 269.3 million euros ($284.78 million) in the nine months through September, its highest ever result for the period. Its EBITDA margin stood at 16.6%, up from 14.5% in June.
The maker of status symbol Vespa, featured in classic film Roman Holiday, also confirmed its planned investments in new products in the two-wheeler sector and in commercial vehicles, supported by productivity improvements.
($1 = 0.9456 euros)
(Reporting by Federica Urso; editing by Milla Nissi)
