Ducati Motor Holding Announces Record Revenues for Second Quarter and First Half 2002BOLOGNA, Italy, July 16 Ducati Motor Holding S.p.A. a leading manufacturer of high performance motorcycles, today announced record consolidated revenues for the second quarter and first half, ended June 30, 2002.
For the second quarter, revenues were Euro 130.1 million an increase of 7.6% from Euro 120.9 million during the same period in the previous year. Revenues from Ducati motorcycles for the period increased 3.3% to Euro 107.1 million and represented 82.3% of revenues. Motorcycle-related products, including spare parts, technical accessories and apparel reached Euro 22.3 million, a rise of 30.0% versus the comparable period in the previous year.
For the first half of 2002, revenues were Euro 236.4 million, up 6.7% from Euro 221.5 million during the same period in the previous year. Revenues from Ducati motorcycles for the period increased 3.8% to Euro 196.4 million and represented 83.1% of revenues. Motorcycle-related products reached Euro 39.1, up 22.9% over the same period last year.
"I am pleased to announce these record results for the first half of 2002," said Carlo Di Biagio, CEO of Ducati. "As first announced in early Spring, we are going ahead with our strategy of reducing inventories world wide, in preparation for the launch of a strong model year for 2003. In the US, we continue to re-structure our operations, and are especially focussed on de-stocking our dealers and building up high-quality distribution channels."
While official world registrations data for the period are not yet available, the Company's best estimates suggest that registrations for the six-month period have grown approximately 7%, with particular strength in Japan (+20%), Italy (+9%), UK (+5%), and all countries not covered by a subsidiary (+19%). In the US, registrations were flat.
During the second quarter of 2002, new Ducati Stores exclusively selling Ducati motorcycles and accessories were opened, including one in Glasgow and Fukuoka (Japan), bringing the total to 102 stores worldwide at half-end.
World Ducati Week, held in Misano in June, was a huge success, attracting over 25,000 Ducatisti from all over the world. Highlights included presentations of the Multistrada - a new motorcycle designed to bring sport motorcycling to a broader audience - and of the prototype Ducati Desmosedici, a motorcycle due to race in the MotoGP in 2003. Crowds gathered when the Ducati racing team joined devotees to pose for photographs and sign autographs, and collectors battled for rare pieces of Ducati memorabilia in a charity auction held with Sotheby's, which raised Euro 38,000. Among the most emotional moments was when 2,000 fans set off on their Ducatis to Lugo di Romagna, birthplace of Fabio Taglioni, in homage to the famed Ducati Engineer who passed away in 2001. The event also hosted the departure of the historic Motogiro d'Italia, a glorious five-day classic motorcycle race around the country roads of central Italy, which attracted hundreds of participants and press from around the world.
In addition, Troy Bayliss, official Ducati Infostrada Factory Team racer and current World Superbike Champion, won the first of two races, in the US round of the World Superbike Championship in California on July 14, 2002. Bayliss set the crowds alight at the Laguna Seca race track sharing wins with Colin Edwards (Honda). Ruben Xaus (Ducati Infostrada Team) rode his best race of the season to finish runner-up behind Troy in the first race.
Troy's first-ever win at Laguna Seca, takes his season's total to 14, and he now leads Edwards by 53 points with four rounds still to go. Meanwhile in the Manufacturer's standings, Ducati's lead over Honda grew to 58 points.
"And I am very proud to announce that Ducati is launching the new 999 Testastretta Superbike," concluded Di Biagio. "It is the fastest, lightest and most aerodynamic motorcycle ever built by Ducati. More information will be released at a press conference to be held this evening in Misano and on our website at www.ducati.com."
Founded in 1926, Ducati builds racing-inspired motorcycles characterized by unique engine features, innovative design, advanced engineering and overall technical excellence. Ducati has won ten of the last twelve World Superbike Championship titles and more individual victories than the competition put together. The Company produces motorcycles in four market segments which vary in their technical and design features and intended customers: Superbike, Supersport, Monster and SportTouring. The company's motorcycles are sold in more than 40 countries worldwide, with a primary focus in the Western European and North American markets. For more information about the Company, please visit our web site at http://www.Ducati.com.
This press release contains statements that are forward-looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, as described in the Company's 2000 annual report, filed with the U.S. Securities and Exchange Commission on Form 20-F, dated July 1, 2002.