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STRONGER START FOR DUCATI

An improving model mix has helped to boost Ducati’s profitability, according to its first-quarter 2019 results. BDN financial editor Roger Willis reports.

Although production volume during the period was cut by 10% to 16,183 bikes, for “planned inventory optimisation” purposes, global Ducati retail sales were 5% up to 12,541. The company statement added that sales in both Europe and the otherwise-troubled US market had increased.

Packed with new or heavily revised Multistrada and Hypermotard models, the brand’s dual-sport presence led the way with an 18.6% rise to 4113. And extensive revision of the Icon, Café Racer, Full-Throttle and Desert Sled range of Scramblers delivered a 14.7% lift to 2894. Naked machines — comprising Diavel, Monster and Streetfighter models — fell slightly by 1.1% to 3054. The superbike and supersport sector dropped more sharply, 13.5% down to 2480. Supply timing for highly desirable and premium-priced new Panigale V4R and V4S Corse models were probably responsible, rather than lack of demand.

Total quarterly revenue was 1.1% lower at £155.4m but operating profit jumped by 42.9% to £8.6m. Operating margin rose to 5.4% from 3.6%. After VW/Audi parental bean-counters had played their usual “elimination of the effects of purchase price allocation” trick, operating profit was restated as being 33.3% up to £13.7m and operating margin climbed to 8.6% from 6.8%.

    

 

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