Ducati - positives in a complex year
48,042 motorcycles delivered, € 676m in turnover and € 24m in operating profit, equal to 4% of operating margin. The strategy of shifting upward the product range pays off as turnover per motorcycle grows again in 2020.
Claudio Domenicali, CEO of Ducati Motor Holding: "Even in the difficult 2020, Ducati remained profitable with a very positive cash flow, the best ever recorded to date."
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| Claudio Domenicali, CEO Ducati Motor Holding: "Thanks to rigorous discipline, we were able to reduce fixed costs, thus limiting the drop in operating margin; reducing inventory had a positive effect on cash flow, which is the best ever recorded." |
Oliver Stein, CFO Ducati Motor Holding: "Financial stability is extremely important to support technological development, product and process innovation and Ducati Corse activities."
Ducati says it closed out "a challenging 2020, reinforcing the solidity that Ducati has demonstrated in recent years. Despite the complex global situation and the seven-week halt in production right at the peak period of the season, 48,042 (2019: 53,183) motorcycles were delivered to customers worldwide, limiting the sales gap compared to 2019 to -9.7%.
"The end of 2020 revenue reached a figure of € 676m (2019: € 716m) and the operating profit was € 24m (2019: € 52m), with an operating margin of 4%. Compared to 2019, sales growth was seen in China (+26%), Germany (+6.7%) and in Switzerland (+11.1%). Italy remains the largest market for Ducati, followed by USA.
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| Ducati Scrambler Desert Sled Fasthouse |
"The turnover per bike figure has grown to € 14,883/motorcycle (2019: € 13,500), representing the highest value ever reached in the history of the company. This consistently reflects the strategy of evolving the product range towards the highest and premium part of the market."
Claudio Domenicali, CEO Ducati Motor Holding, declared: "2020 was indeed a challenging year, but we are satisfied with our financial performance throughout. Thanks to rigorous discipline, we were able to reduce fixed costs, thus limiting the drop in operating margin. At the same time, vastly reducing inventories had positive effects on cash flow, which is the best ever recorded to date. Investments in new products were not compromised and this paved the way for a positive outlook for Ducati in the future.
"A heartfelt thank you goes out to the women and men of Ducati who, every day, with passion and dedication, contribute to the company's strength and success even in this very complex and tough year."
