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Financial

04/11/2019

Despite stable sales volume, Ducati’s German parent says its 2019 YTD performance has been offset by a predominantly negative model mix. While the advent of recently unveiled new V4 Streetfighter models will hopefully help address that problem when they reach dealers, latest nine-monthly results to 30 September were downbeat. BDN financial editor Roger Willis reports.

Numbers were indeed steady, dipping negligibly by 0.3% to 43,827 motorcycles retailed worldwide. But revenue for the period was 5.3% down to £489m. All the same, operating profit held station — absolutely flat at £34m in the first instance, according to conventional accounting rules, and then adjusted upwards through “purchase price allocation” jiggery-pokery to £48m. Operating margin was 8.9%.

As for model mix, sales of flagship Ducati superbike and supersport machines fell by 17.5% to 8801. The Scrambler sub-brand posted a 10.1% decline to 9648. Multistrada and Hypermotard models were 20.8% up to 14,086. Naked/cruiser kit — encompassing Monster, Diavel and V-twin Streetfighter models, soon to be usurped by the latest V4 application — added 3.7% to 11,292.

Production across the nine months in question dropped by 2.2% to 44,392 bikes. However, within that, it grew sharply by 30.6% in the third quarter to 9633.