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Piaggio FY core profit rises 8.5 pct on better product mix

MILAN, Feb 27 (Reuters) - Italian motorcycle and scooter maker Piaggio on Friday reported an 8.5 percent rise in 2014 core earnings, helped by a shift in the product mix towards higher-cost vehicles.

The maker of the iconic Vespa scooter and Aprilia motorbikes said earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 159.3 million euros ($179 million), compared with a Thomson Reuters SmartEstimate of 154 million euros, and in line with the company's own guidance of between 155-160 million euros.

Consolidated revenues were flat at 1.21 billion euros, in line with expectations. Net of the exchange rate effect, net sales rose 1.3 percent to 1.23 billion euros.

The company said it would distribute a dividend of 7.2 euro cents per share.

The company gave no financial outlook for this year.

In its business plan released last year, Piaggio forecast 70 percent growth in core earnings between 2013-2017 to around 250 million euros, helped by expectations of a gradual economic recovery in Europe and expansion plans in Asia. ($1 = 0.8909 euros) (Reporting by Agnieszka Flak; editing by Francesca Landini)