2012 Half year financial report

The percentage of costs for materials accounting for net revenues decreased, from 59.3% in the first half of 2011 to 58% in the current period, following the greater impact of two-wheeler vehicles on total production, and particularly of vehicles manufactured for the Asian market, for which the percentage accounting for turnover is lower compared to the Group average.

The following table details the content of this financial statement item:

In thousands of Euros 1st half of
1st half of
Raw, ancillary materials, consumables and goods 490,608 512,295 (21,687)
Change in inventories of raw, ancillary materials,
consumables and goods
(16,872) (25,186) 8,314
Change in work in progress of semifinished and
finished products
(30,437) 5,149 (35,586)
Total costs for purchases 443,299 492,258 (48,959)

This item includes €/000 19,626 for costs relative to purchases of scooters from the Chinese subsidiary Zongshen Piaggio Foshan, which are sold on European and Asian markets.