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ELECTRIFYING RESULTS FOR ENERGICA

Modena-based Italian electric sporting motorcycle manufacturer Energica has more than doubled its 2020 order book against the previous year and is rapidly accelerating deliveries to customers.

Having satisfied only 23% of demand during the first four months, when production had been disrupted by an obligatory coronavirus-induced factory shutdown from late March through April, the company claims to have revived operations swiftly. By the end of June, year-on-year sales revenue had grown by 65% to £3.4m. And then, eight months in at the end of August, it reached £3.9m, a 90% increase — eliminating 78% of the backlog.

Commenting on the pace of recovery, Energica chief executive Livia Cevolini said: “Despite this challenging period, we are extremely happy with strongly positive feedback received regarding our products. The electric mobility market confirms itself among the main growing macro trends of the global economy. Production continues to speed up, to align to the order backlog.”

Energica has another season to run on a contract as exclusive control bike supplier to the FIM Enel MotoE World Cup at selected MotoGP rounds. However, as a listed company on the Borsa Italiana’s small-cap alternative investment market in Milan, its share price has declined by in excess of 20% so far this year.

 

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