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.
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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." |
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."
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.
"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.
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| Ducati Scrambler Desert Sled Fasthouse |
"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."
Production of the new Monster underway
Production of the new Monster has begun at the Ducati factory with MotoGP riders Pecco Bagnaia (Ducati Lenovo Team), Enea Bastianini and Luca Marini (Esponsorama Racing) among the guests to witness the first model being built.
It was due to be available in all Ducati dealerships starting from April 2021, along with a reduced version for A2 licence holders. "Lightweight, compact and essential - the Monster is a nexus of fun that is able to satisfy both the youngest and the most experienced riders".
With over 350,000 units produced and distributed throughout the world, the Monster family is the best-selling and the longest running in Ducati's history. There has been some adverse criticism of the new shape for the Monster, with the classic silhouette and trellis frame gone, but it is hard to argue with its positioning and performance - even if it does now look more like an MV Agusta than the 'Monster' that did so much to help turn its fortunes around.
The heart of the bike is the 937 cc L-twin Testastretta 11° engine with desmodromic distribution, which makes the Monster "sporty and fun". Maximum power stands at 111 hp at 9,250 rpm with a torque of 9.5 kgm at just 6,500 rpm. "Thanks to the increased displacement compared to the 821 cc version, torque has improved at all revs, particularly in the all-important medium-low range".
