2018 financial statements approved
Resolution to assign a dividend of 9 eurocents per ordinary share
Plan for purchase and disposal of the company's ordinary shares approved
Milan, 12 April 2019 – The Piaggio & C. S.p.A. Ordinary Shareholders’ Meeting, held today in Milan and chaired by Roberto Colaninno, examined and approved the 2018 financial statements.
In 2018, Piaggio Group consolidated net sales amounted to 1,389.5 million euro (+4.3% on 1,332.4 million euro in 2017); consolidated Ebitda was 201.8 million (+4.9% on 192.3 million euro in 2017); Ebit was 92.8 million euro (+28.3% on 72.3 million euro in 2017); profit before tax was 67.8 million euro (+69.4% on 40.1 million euro in 2017); Group net profit was 36.1 million euro (+80.6% on 20 million euro in 2017). Net financial debt at 31 December 2018 stood at 429.2 million euro (446.7 million euro at 31 December 2017). The parent company, Piaggio & C. S.p.A., posted a net profit of 35.6 million euro.
The Ordinary Shareholders’ Meeting approved the distribution of a dividend of 9 eurocents (pre-tax) to each entitled ordinary share, for an overall amount of 32,155,184.34 euro. The ex dividend date (coupon 12) is 23 April 2019; the record date is 24 April 2019 and the payment date is 25 April 2018.
The Piaggio & C. S.p.A. Shareholders’ Meeting also renewed the authorisation for the purchase and disposal of the company's own shares. The purpose is to provide the company with a useful strategic investment opportunity for the purposes allowed under law, including the purposes contemplated in art.5 of EU Regulation 596/2014 (Market Abuse Regulation, hereinafter “MAR”) and the practices allowed under art. 13 MAR, and to proceed with purchases of own shares for subsequent cancellation.
The purchase authorisation will be valid for 18 months as from the date of the shareholders’ meeting; the authorisation for disposal has no time limit.