Piaggio & C. SpA (PIA) Earnings Call Transcripts

Piaggio & C. SpA's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Piaggio & C. SpA reported a revenue decline of 7.8% year-over-year, primarily due to foreign exchange impacts, despite a healthy demand environment. The company absorbed only EUR 19 million in cash flow, a significant improvement from EUR 58 million in the same period last year, indicating better inventory management. Management maintained its guidance for the year, signaling confidence in continued growth driven by new product launches and strong performance in key markets, particularly India and the Philippines.

Reported metrics

Guidance from management

Management maintained its guidance for the year, indicating that the current consensus is aligned with internal expectations, despite the one-off impacts experienced in Q1 2026.

What management said

Yes, we see the positive trend, and you have seen also the market share in these states. So we believe that this positive trend will be the same in the next months -- I think the second quarter in India is not better for the seasonality of the weather, as you well know.

Okay. As you know, we used for the tax rate in all the quarter closure, what we had defined for the budget of the year. And we have -- in this year, we have more or less considered an amount equal to EUR 38 million. So in this first quarter, we have begun with the same that we have put in our budget, just like the accounting principle as for any one of us. We will work in the next month to review this. Yes, this is o...

What analysts pressed on

Analysts expressed concerns regarding the high tax rate and its impact on overall profitability. There were also questions about the pricing environment and competition, particularly in Europe, and how it may affect market share moving forward.

Main topics on the call

• Revenue Decline Due to Forex — Piaggio experienced a 7.8% decline in net sales, attributed largely to foreign exchange fluctuations. CFO Alessandra Simonotto stated, "This is not something connected on the sales or on promotion and bonuses. And so it'...
• Improved Cash Flow Management — The company absorbed only EUR 19 million in cash flow, a significant reduction from EUR 58 million in the prior year. Simonotto highlighted, "We put in place from the beginning of September, a lot of activities to contai...
• Positive April Sales Trends — Management reported that volumes grew close to 20% in April 2026 compared to the previous year, with positive contributions from all geographic areas. This growth supports management's confidence for the remainder of the...
• New Product Launches — The upcoming launches, including new Vespa models, are expected to positively impact sales and margins. Simonotto noted, "We believe and we see in our forecast that these launches will have good results in our sales and ...

Read the full Piaggio & C. SpA transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 23 Piaggio & C. SpA earnings call transcripts on record, spanning February 26, 2020 to May 8, 2026. Based on this history, Piaggio & C. SpA reports quarterly. The most recent call on file is dated May 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PIA

Exchange

BIT

Country

IT

Sector

Consumer Discretionary

Industry

Automobiles

Calls on record

23

First call

February 26, 2020

Most recent

May 8, 2026

Reporting cadence

quarterly