ITALY: Ducati reports record Q3 and YTD revenues
Motorcycle maker Ducati Motor Holding achieved record consolidated revenues for both the third quarter and nine months ended September 30, 2002.
For the first nine months of 2002, revenues were 298.9 million euros (£189,593,619.00; $US 293,790,205), up 5.5% from 283.4 million euros during the same period in the previous year.
Revenues from Ducati motorcycles for the period increased 2.4% to 242.1 million euros and represented 81.0% of revenues. Motorcycle-related products reached 55.8 million euros, up 20.2% over the same period last year.
For the third quarter, revenues were 62.5 million euros, an increase of 1.0% from 61.9 million euros during the same period in the previous year.
Revenues from Ducati motorcycles for the period decreased 3.1% to 45.7 million euros and represented 73.1% of revenues. Motorcycle-related products, including spare parts, technical accessories and apparel Euro 16.7 million euros, a rise of 14.2% versus the comparable period in the previous year.
"These positive results for the period were reached despite adverse foreign exchange, country and product mix effects," said Ducati CFO Enrico D'Onofrio.
"In the fourth quarter, we expect the country mix to improve thanks to the recovery of our US business and the product mix to benefit from shipments of the new 999 Superbike."
While official world registrations data for the period are not yet available, Ducati estimates that registrations for the nine-month period have grown approximately 3%, despite a decline of around 6% in the Ducati relevant market, with particular strength in Japan (+16%), all countries not covered by a subsidiary (+12%), UK (+7%) and Italy (+6%).
But US registrations were down 1%.