Ducati Announces 13th Consecutive Quarter Record Revenue Growth
31 January 2000
Reports 34% Fourth Quarter Topline Growth and 23% Year End Revenue Growth
BOLOGNA, Italy -- Ducati Motor Holding S.p.A., a leading manufacturer of
high performance motorcycles, today announced record consolidated revenues for
the fourth quarter and year ended December 31, 1999.
For the fourth quarter, total revenues increased 34.3% to Lit.
150.2 billion (US$77.9 million) from Lit. 111.8 billion (US$58.0 million)
during the same period in the previous year. Revenues from Ducati motorcycles
during the recent three-month period increased nearly 34% to Lit. 133.1 billion
over the fourth quarter of last year and represented 88.6% of revenues. Three
months revenues of motorcycle-related products, including spare parts,
technical accessories and apparel rose 35.7% to Lit. 15.7 billion
over the comparable period in the previous year with performance accessories
and apparel posting with a 78.3% quarter over quarter improvement.
While official three-month world registration data are not yet available,
the Company's best estimates suggest that registrations increased 21% during
the fourth quarter compared to the same period a year ago, with particular
strength in Italy, Germany, North America, France and Switzerland.
"We are very pleased with our better-than-expected fourth quarter results,
which were generated by a solid performance in motorcycle sales as well as a
continued dramatic increase in performance accessories and apparel," said
Carlo Di Biagio, Ducati Chief Financial Officer. "Our efforts to develop the
Ducati lifestyle brand are also evident in our growing base of successful
DucatiStores and DucatiCorners."
Total revenues for the full year 1999 increased 22.6% to Lit. 570.3 billion
(US$295.9 million) from Lit. 465.1 billion (US$241.3 million) in the previous year.
Twelve-month revenues from Ducati motorcycles were Lit. 491.9 billion, an
increase of 22.4% over 1998, and represented 86.3% of revenues. For the year
ended 1999, revenues of motorcycle-related products rose 37.8% to Lit. 71.8
billion compared to the year-ago period with high-margin performance accessories
and apparel posting especially strong results with a 74.6% year over year
improvement. Based on preliminary numbers, the Company estimates that
registrations increased 18% during the year compared to 1998.
"Our results for year-end 1999 reflect strong consumer demand from around
the world for our products," said Federico Minoli, Ducati Chairman and Chief
Executive Officer. "We were also excited about our landmark launch of the
MH900evoluzione that became available exclusively online on the official
Ducati web site with the start of the new millennium at 00:01 a.m. GMT.
This ground-breaking initiative reinforces our commitment to developing this
exciting channel and confirms that the Internet will become a strategic instrument
of our development."
Founded in 1926, Ducati builds racing-inspired motorcycles characterized
by unique engine features, innovative design, advanced engineering and overall
technical excellence. Ducati has won eight of the last ten World Superbike
Championship titles and more individual victories than the competition put
together. The Company produces motorcycles in four market segments which
vary in their technical and design features and intended customers:
Superbike, Supersport, Monster and SportTouring. The company's motorcycles
are sold in more than 40 countries worldwide, with a primary focus in the
Western European and North American markets.
Ducati Motor Holding S.p.A. and Subsidiaries
Net Revenues and Shipment Data
Three Months Ended Three Months Ended
12/31/99 12/31/98 12/31/99 12/31/98
Net Revenues
(Lire in millions,
US$ in thousands)
Motorcycles Lit. 133,126 Lit. 99,445 US$ 69,070 US$ 51,595
Spare Parts,
Accessories,
Apparel 15,661 11,540 8,126 5,987
Miscellaneous Other 1,436 853 745 443
Total Net
Revenues Lit. 150,223 Lit.111,838 US$ 77,941 US$ 58,025
% Change +34.3%
Ducati Units
Motorcycle Shipments:
% Change
North America 1,904 1,455 +30.9%
Europe 5,711 4,545 +25.7%
Japan 202 208 -2.9%
Rest of World 419 451 -7.1%
Total 8,236 6,659 +23.7%
Motorcycle Product
Mix: % Change
Sport Segment
(Superbike &
Supersport) 3,651 3,476 +5.0%
Monster 3,793 2,440 +55.5%
SportTouring 792 743 +6.6%
Total 8,236 6,659 +23.7%
Note: On December 31, 1999, US$ = 1927.4 Italian lire. On January 1,
1999, the conversion rate was fixed such that Euro = 1,936.27 Italian lire.
Ducati Motor Holding S.p.A. and Subsidiaries
Net Revenues and Shipment Data
Twelve Months Ended Twelve Months Ended
12/31/99 12/31/98 12/31/99 12/31/98
Net Revenues
(Lire in millions,
US$ in thousands)
Motorcycles Lit. 491,883 Lit. 401,814 US$ 255,206 US$ 208,475
Spare Parts,
Accessories,
Apparel 71,768 52,095 37,236 27,028
Miscellaneous Other 6,635 11,189 3,442 5,805
Total Net
Revenues Lit. 570,286 Lit. 465,098 US$ 295,884 US$ 241,308
% Change + 22.6%
Ducati Units
Motorcycle shipments:
% Change
North America 5,567 4,955 +12.4%
Europe 25,468 20,878 +22.0%
Japan 1,016 535 +89.9%
Rest of World 1,073 1,643 -34.7%
Total 33,124 28,011 +18.3%
Motorcycle Product Mix:
% Change
Sport Segment
(Superbike &
Supersport) 13,461 13,368 +0.7%
Monster 16,770 11,994 +39.8%
SportTouring 2,893 2,649 +9.2%
Total 33,124 28,011 +18.3%
Unofficial Motorcycle
Registrations:
% Change
North America 4,805 3,739 +29%
Europe 23,302 20,019 +16%
Japan 1,418 1,383 +3%
Rest of World 2,610 2,163 +21%
Total 32,135 27,304 +18%
Note: On December 31, 1999, US$ = 1,927.4 Italian lire. On
January 1, 1999, the conversion rate was fixed such that Euro = 1,936.27
Italian lire.
