Piaggio Group reported a 3.3% increase in net sales to €351.7 million for the first quarter of 2011 compared to the same period last year. EBITDA grew 6.1% to €33.7 million, representing a 9.6% margin. Net income increased 4.1% to €3 million, maintaining an 0.8% margin on sales. Volumes were up 3.7% overall to 149,000 units sold, with strong growth in the Commercial Vehicles India segment.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
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Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
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Greek trade a pillar of dynamic economic growth - European Business Review
Piaggio Group - First Quarter 2011 Financial Results
1. Piaggio Group – First Quarter 2011 Financial Results
Conference Call
April 29th, 2011
1
2. Disclaimer
This presentation contains forward-looking statements regarding future events and future results of Piaggio & C S.p.A (the “Company”).
that are based on the current expectations, estimates, forecasts and projections about the industries in which the Company operates,
and on the beliefs and assumptions of the management of the Company. In particular, among other statements, certain statements with
regard to management objectives, trends in results of operations, margins, costs, return on equity, risk management, competition,
changes in business strategy and the acquisition and disposition of assets are forward-looking in nature. Words such as ‘expects’,
‘anticipates’, ‘scenario’, ‘outlook’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, as well as any variation of
such words and similar expressions, are intended to identify such forward-looking statements. Those forward-looking statements are
only assumptions and are subject to risks, uncertainties and assumptions that are difficult to predict because they relate to events and
depend upon circumstances that will occur in the future. Therefore, actual results of the Company may differ materially and adversely
from those expressed or implied in any forward-looking statement and the Company does not assume any liability with respect thereto.
Factors that might cause or contribute to such differences include, but are not limited to, global economic conditions, the impact of
competition, or political and economic developments in the countries in which the Company operates. Any forward-looking statements
made by or on behalf of the Company speak only as of the date they are made. The Company does not undertake to update forward-
looking statements to reflect any change in its expectations with regard thereto, or any change in events, conditions or circumstances
which any such statement is based on. The reader is advised to consult any further disclosure that may be made in documents filed by
the Company with Borsa Italiana S.p.A (Italy).
The Manager in Charge of preparing the Company financial reports hereby certifies pursuant to paragraph 2 of art. 154-bis of the
Consolidated Law on Finance (Testo Unico della Finanza), that the accounting disclosures of this document are consistent with the
accounting documents, ledgers and entries.
This presentation has been prepared solely for the use at the meeting/conference call with investors and analysts at the date shown
below. Under no circumstances may this presentation be deemed to be an offer to sell, a solicitation to buy or a solicitation of an offer to
buy securities of any kind in any jurisdiction where such an offer, solicitation or sale should follow any registration, qualification, notice,
disclosure or application under the securities laws and regulations of any such jurisdiction.
2
3. Financial Statement
1Q ’11 vs 1Q ’10 (€m)
1Q 2010 1Q 2011 % Change
Net Sales 340.6 351.7 3.3%
Gross Margin 102.5 102.6 0.1%
% on Sales 30.1% 29.2%
EBITDA 31.8 33.7 6.1%
% on Sales 9.3% 9.6%
Depreciation (20.5) (21.6) 5.4%
EBIT 11.3 12.2 7.3%
% on Sales 3.3% 3.5%
Financial Expenses (5.9) (6.5) 10.7%
Income before Tax 5.4 5.6 3.5%
Tax (2.6) (2.6) 2.8%
Net Income 2.9 3.0 4.1%
% on Sales 0.8% 0.8% 3
4. Key Figures
1Q ’11 vs 1Q ’10 (€m)
Net Sales EBITDA
% on sales 9.3%
9.3% 9.6%
9.6%
340.6 +3.3% 351.7 +6.1%
31.8 33.7
1Q '10 1Q '11 1Q '10 1Q '11
Net Income Net Financial Position
% on sales 0.8%
0.8% 0.8%
0.8% 1Q '10 1Q '11
2.9 +4.1% 3.0
-3.8%
(406.4)
(422.6)
1Q '10 1Q '11 4
5. Net Sales trend
1Q ’11 vs 1Q ’10 (€m)
by Cash Generating Unit by Business
+3.3%
+3.3% 351.7 +3.3%
+3.3% 351.7
340.6 340.6
n.m. 3.3
Other 1.6
+1.2% 40.6
Acc. & S.Parts 40.1
Commercial
86.9 +26.6% 110.0
Vehicles India
Commercial
82.4 +26.7% 104.3
Vehicles India
Commercial
33.4 -20.8%
Vehicles Europe 26.5
2 Wheels Asia 33.9 Commercial 27.8
-5.0% 32.2 Vehicles Europe -23.5% 21.2
Bikes 35.5
+13.2% 40.2
2 Wheels
Western 186.3 -1.8% 183.0
Countries Scooters 153.2 -7.3% 142.0
1Q '10 1Q '11 1Q '10 1Q '11
5
6. Volumes trend
1Q ’11 vs 1Q ’10 (‘000 sell-in units)
by Cash Generating Unit by Business
+3.7%
+3.7% +3.7%
+3.7%
149.0 149.0
143.7 143.7
Commercial Commercial
Vehicles India 52.2 +18.1% 61.7 52.2 +18.1% 61.7
Vehicles India
Commercial -7.1% Commercial -7.1%
Vehicles Europe 3.9 Vehicles Europe 3.9
3.6 3.6
2 Wheels Asia 15.1 Bikes 9.8 +4.5%
+15.1% 10.3
17.4
2 Wheels
Western -8.5% Scooters 77.8
72.5 -5.6% 73.4
Countries 66.3
1Q '10 1Q '11 1Q '10 1Q '11
6
7. EBITDA Evolution
1Q ’11 vs 1Q ’10 (€m, % on sales)
2.0
33.7
31.8 (0.1) (9.6%)
(9.3%)
1Q '10 Change in Cash Gross Change in Cash Opex 1Q '11
Margin
7
8. Net Income Evolution
1Q ’11 vs 1Q ’10 (€m, % on sales)
0.8
(0.6) (0.1) 3.0
2.9
(0.8%)
(0.8%)
1Q '10 Change in EBIT Change in Financial Change in Taxes 1Q '11
Expenses
8
9. Group Balance Sheet
1Q ’11 vs 1Q ’10 (€m)
2009 1Q 2010 2010 1Q 2011
Trade Receivable 99.0 149.2 78.0 134.2
Inventories 252.5 276.4 240.1 259.0
Commercial Payables (341.8) (342.0) (340.3) (340.9)
Other assets/liabilities 7.5 9.1 31.1 14.2
Working Capital 17.2 92.8 8.8 66.5
Tangible Fixed Assets 250.4 248.9 256.8 250.9
Intangible Fixed Assets 641.3 645.8 652.6 650.4
Financial Investments 0.6 0.4 0.5 0.5
Provisions (133.7) (132.1) (125.9) (122.4)
Net Invested Capital 775.8 855.7 792.8 845.8
Net Financial Position 352.0 422.6 349.9 406.4
Equity 423.8 433.2 442.9 439.4
Total Sources 775.8 855.7 792.8 845.8
9
10. Group Cash Flow and NFP evolution
1Q ’11 vs 1Q ’10 (€m)
Operating Cash Change in Change in
NFP YE '10 Flow Working Capital Capex Equity and Other NFP 1Q '11
21.1
(349.9)
1.9 (406.4)
(57.6)
(21.9)
1Q ‘10
(352.0) 21.7 (75.6) (14.7) (2.0) (422.6)
NFP YE ‘09 NFP 1Q ‘10
10