Over the next three years the Piaggio Group will be concentrating on the challenges presented by the international light mobility market, with a special focus on technological innovation, to compete on world markets as an innovator sensitive to fuel consumption and the environment.

Piaggio & C. S.p.A. chairman and chief executive officer Roberto Colaninno has presented the Piaggio Group 2008-2010 Business Plan to the Board of Directors.

Over the next three years the Piaggio Group will be concentrating on the challenges presented by the international light mobility market, with a special focus on technological innovation, to compete on world markets as an innovator sensitive to fuel consumption and the environment.

The 2008-2010 Plan guidelines are based on:

• an investment focus on technological innovation geared to the environmental sustainability of Group products and to guarantee lower urban transport costs;
• international growth in terms of industrial and commercial expansion on the main world markets as well as improved Group efficiency in R&D, engineering and procurements. Specifically, the Group will be developing its operations on Asian markets;
• extension of the product portfolio in the scooter, motorcycle and commercial vehicle businesses;
• an innovative Group management organisation, involving all engineering, sales, communication and marketing areas;
• enhancement of the image of the Group and its individual brands to strengthen perception of Group products as unique on global markets.

In the 2008-2010 period, the Piaggio Group will be aiming to:
• consolidate its leadership in the European scooter business;
• expand its motorcycle business in terms of segments/engines and international positioning, with parallel enhancement of its racing activities, especially for Aprilia (entry into the Superbike world championship) and Derbi;
• expand its position in the commercial vehicles business in Europe, India and South-East Asia;
• develop innovative engines with low environmental impact, by focusing on hybrid technology to cut fuel consumption and emissions;
• broaden its presence on the Asia-Pacific market;
• start up the production facility in Vietnam in 2009;
• develop operations on the Chinese market;
• broaden the product range and brand visibility on the American market.

At the end of the three-year period (2010) the Piaggio Group projects consolidated net sales of around € 1,950 million, an EBITDA margin of 13.5% and an EBITDA/net debt ratio close to 1, after capital expenditure of more than € 300 million during the three years.