Significant events during first half of 2013

In February 2013, Piaggio &C. decided to move the production of Derbi brand vehicles to Italy, in order to streamline its own production activities, and to gradually close the production facility in Martorelles, Spain and transfer the production carried out there to Italian sites.
Consequently, on 15 February 2013 Nacional Motor appealed against the "E.R.E.” procedure (Expediente de Regulacion de Empleo - Employment Regulations Plan). In particular, the employment plan involved leaving incentives for nearly all employees, based on agreements made with trade unions and signed in 2009, 2011 and 2012. In particular, the purpose of agreements made in July 2012 was to define the procedures and remuneration for employees if production activities stopped. This procedure involved restructuring costs for the Group amounting to approximately €6 million. These costs, based on IAS 37 requirements, refer to 2013 and have already had an effect on first half results.
In March 2013, the Spanish company Nacional Motor stopped all activities, implementing the E.R.E., shared with Government representatives and Trade Union Organisations. Employment contracts are being terminated; The redundancy plan will end on 31 December 2013.
As of 30 June 2013, the production of Derbi vehicles was transferred to Italian sites.
The carrying amount of plant, property and equipment of Nacional Motor recognised in the consolidated interim accounts are confirmed by a valuation of an independent expert.

9 April 2013 the long-awaited Aprilia Caponord 1200 was presented to the international press - the road enduro bike boasting an exclusive, patented technological content, such as ADD, the semi-active suspension system that can automatically regulate calibration to road surface and driving style.

24 April 2013 the National Hospital for Pediatrics of Hanoi and the Paediatric Hospital Bambino Gesù of Rome launched a partnership project to treat over 2,000 Vietnamese children from 0 to 18 years of age; the project was set up with the help of Piaggio Vietnam and is the first in a number of “Vespa for Children” social initiatives, recently announced by the Piaggio Group.

15 May 2013 The new Vespa 946, the most exclusive and technologically advanced scooter ever designed, can now be booked on the new site

14 June 2013 Moody’s lowered Piaggio's rating from Ba2 to Ba3, giving it a stable outlook.

20 June 2013 The Piaggio Group unveiled the new Vespa VX in Bombay, which is produced in India at the Baramati plant, and announced an important programme to expand the Vespa range on the Indian market. Developed specifically for the Indian market, the Vespa VX has evolved from the Vespa LX and flanks the Vespa model currently sold in India; it features even greater comfort, new design elements and a new braking system with front disc brake. The new VX has a 3 valve, 4-stroke 125cc engine purposely developed by the Piaggio Group for the Indian two-wheeler market: the engine is particularly quiet and eco-friendly, with a considerable reduction in gaseous and sound emissions, and one of the world's lowest fuel consumptions - 60 km on one litre of petrol. The Piaggio Group's scooter range on the Indian market will expand further in 2013 with the new Vespa S going into production at Baramati. Piaggio Vehicles Private Ltd. (PVPL), the Indian subsidiary wholly owned by the Piaggio Group, is also due to launch the Vespa 946, the stunning scooter that made its début in early June on all European markets.

27 June 2013 A Paris Court acknowledged Piaggio's copyright to the exterior forms of the Vespa, ordering the company responsible for making imitations to destroy all vehicles on display at the “Salon de Moto et du Scooter” in Paris, and to pay legal fees.