Ducati Motor Holding Announces Record 18.9% Increase in Revenues Increase in 1999 Nine Month Revenues
3 November 1999
Ducati Motor Holding Announces Record 18.9% Increase in 1999 Nine Month Revenues
BOLOGNA, Italy, Nov. 3 -- Ducati Motor Holding S.p.A.
, a leading manufacturer of high performance
motorcycles, today announced record consolidated revenues for the first nine
months ended September 30, 1999.
For the first nine months of 1999, total revenues increased 18.9% to Lit.
420.1 billion (US$231.4 million) from Lit. 353.3 billion (US$194.6 million)
during the same period last year. Revenues from Ducati motorcycles during the
recent nine-month period increased 19.6% to Lit. 358.8 billion over the first
nine months of last year, and represented 85.4% of revenues. As of September
30, 1999, motorcycle shipments totaled 24,888 units, an increase of 16.6% over
last year's comparable period. Nine month revenues of motorcycle-related
products, including spare parts, technical accessories and apparel rose 38.3%
to Lit. 56.1 billion over last year. The Company's high-margin performance
accessories and apparel division posted especially strong results with a 73.5%
year-over-year improvement.
While official nine-month world registration data are not yet available,
the Company's best estimates suggest that registrations increased 16% during
the nine months compared to the same period a year ago, with particular
strength in Italy, North America, Germany and Belgium.
"Our results during the first nine months of the year reflect the ongoing
success of Ducati's 1999 strategic initiatives," said Carlo Di Biagio,
Ducati's Chief Financial Officer. "We are pleased with the overall revenue
momentum that we are experiencing."
Total revenues for the 1999 third quarter increased 5.7% to
Lit. 89.1 billion (US$49.1 million) from Lit. 84.3 billion (US$46.4 million)
for the third quarter of last year. Third quarter revenue from Ducati
motorcycles was Lit.70.4 billion, an increase of 6.9% over the third quarter
last year, and represented 79.0% of revenues. Shipments of Ducati motorcycles
in the third quarter totaled 4,815 units, an increase of 3.6% over the
comparable quarter last year. During the third quarter, revenues of
motorcycle-related products rose 37.3% to Lit. 18.0 billion compared to the
year-ago period.
"Third quarter revenue growth reflects the result of a robust second
quarter performance which was driven by stronger-than-anticipated-demand,"
Mr. Di Biagio added. "For the third quarter, though, I am pleased to report
the continued success of our 996 Superbike model whose unit sales rose 87% as
well as the continued strength of our spare part revenues, which gained 48%
versus the same period a year ago. And speaking of spare parts, we are proud
to note that Motorrad, Germany's leading trade magazine, recently rated Ducati
#1 in after sales service due to improvements in spare parts delivery and
customer care. We are satisfied with our performance to date and remain on
track to achieve our full-year revenues and earnings objectives."
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. For more information about the Company, please
visit Ducati's 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
prospectus dated March 23, 1999.
Ducati Motor Holding S.p.A. and Subsidiaries
Net Revenues and Shipment Data
Nine Months Ended Nine Months Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
1999 1998 1999 1998
Net Revenues (Lire in millions, US$ in thousands)
Motorcycles Lit. 358,757 Lit. 300,086 US$ 197,603 US$ 165,287
Spare Parts,
Accessories,
Apparel 56,107 40,555 30,904 22,338
Miscellaneous
Other 5,199 12,619 2,864 6,951
Total Net
Revenues Lit. 420,063 Lit. 353,260 US$ 231,371 US$ 194,576
% Change +18.9%
Ducati Units
Motorcycle shipments: % Change
North America 3,663 3,500 +4.7%
Europe 19,757 16,333 +21.0%
Japan 814 327 +148.9%
Rest of World 654 1,192 -45.1%
Total 24,888 21,352 +16.6%
Motorcycle Product Mix: % Change
Sport Segment
(Superbike &
Supersport) 9,810 9,892 -0.8%
Monster 12,977 9,554 +35.8%
SportTouring 2,101 1,906 +10.2%
Total 24,888 21,352 +16.6%
Unofficial Motorcycle
Registrations: % Change
North America 3,631 2,892 +26%
Europe 20,781 18,002 +15%
Japan 1,129 1,013 +11%
Rest of World 2,231 1,939 +15%
Total 27,772 23,846 +16%
Note: On September 30, 1999, US$ = 1,815.54 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
Three Months Ended Three Months Ended
September 30, September 30, September 30, September 30,
1999 1998 1999 1998
Net Revenues (Lire in millions, US$ in thousands)
Motorcycles Lit. 70,413 Lit. 65,875 US$ 38,784 US$ 36,284
Spare Parts,
Accessories,
Apparel 17,993 13,106 9,911 7,219
Miscellaneous
Other 739 5,341 407 2,942
Total Net
Revenues Lit. 89,145 Lit. 84,322 US$ 49,102 US$ 46,445
% Change +5.7%
Ducati Units
Motorcycle Shipments: 9/30/99 9/30/98 % Change
North America 660 1,024 -35.5%
Europe 3,794 3,289 +15.4%
Japan 166 117 +41.9%
Rest of World 195 218 -10.6%
Total 4,815 4,648 +3.6%
Motorcycle
Product Mix: % Change
Sport Segment
(Superbike &
Supersport) 1,911 1,942 -1.6%
Monster 2,643 2,239 +18.0%
SportTouring 261 467 -44.1%
Total 4,815 4,648 +3.6%
Note: On September 30, 1999, US$ = 1,815.54 Italian lire.
On January 1, 1999, the conversion rate was fixed such that
Euro = 1,936.27 Italian lire.