Ducati Motor Holding Confirms 2002 Results
Wins Double Victory with 999 at First World Superbike Race in Valencia
BOLOGNA, Italy, March 5 -- Ducati Motor Holding S.p.A. , a leading manufacturer of high performance motorcycles, today confirmed its consolidated results for 2002. Preliminary results, announced on February 14, 2003, remain unchanged after final approval by the Board of Directors on March 5, 2003.
In brief, the Company announced 2002 revenues of Euro 413.0 million representing a growth of 1.3% versus Euro 407.8 million in 2001. 2002 EBITDA was Euro 52.3 million and represented 12.7% of revenues compared to Euro 66.1 million or 16.2% of revenues, a year earlier. Net earnings were Euro 6.5 million, compared to Euro 10.6 million in 2001.
Ducati Motor Holding S.p.A., as a stand-alone company, registered a net loss of Euro 3.0 million at December 31, 2002. No dividend distribution is planned.
A discussion by Ducati management of the full year 2002 results is available at http://www.ducati.com/ under Company and then Investor Relations, and can be accessed until May 8, 2003 under Webcast of Results at the bottom of the IR Press Release Schedule section.
A press release containing the detailed 2002 results is available in a release dated February 14, 2003, at http://www.ducati.com/ under Company, then Investor Relations, and then Press Releases.
Ducati also announced that Neil Hodgson, official Team Ducati Fila rider, won an impressive double victory at the first round of the World Superbike Championship in Valencia, Spain.
"We could not have hoped for a better start to the 2003 season," said Federico Minoli, President Ducati Motor Holding. "Neil Hodgson's performance at Valencia -- as well as teammate Rubin Xaus who came in second in both races -- was a staggering result. In its racetrack debut, the new 999 Superbike Testastretta is already proving to be the bike to beat this year."
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 2, 2001.