MILAN, March 20 (Reuters) - Italian motorcycle and scooter maker Piaggio on Thursday reported a 57 percent fall in full-year adjusted net profit, hit by a sharp drop in sales of two-wheel vehicles in most of its markets.
The maker of the iconic Vespa scooter said 2013 adjusted net profit fell to 18.1 million euros ($25 million) from 42.1 million the previous year, and below a Thomson Reuters SmartEstimate of 20 million euros.
The net profit was adjusted to include non-recurring charges of 24.6 million euros related to outstanding tax fees. Excluding the charges, Piaggio would have posted a net loss of 6.5 million euros for 2013.
Consolidated net sales dropped to 1.21 billion euros from 1.41 billion euros, in line with analysts expectations.
The company is due to unveil an industrial plan for 2014-2017 later on Thursday. ($1 = 0.7189 Euros) (Reporting by Agnieszka Flak, editing by Silvia Aloisi)