Italian electric motorcycle manufacturer Energica Motor Company has revealed record first-half 2018 sales. BDN financial editor Roger Willis reports.
Over the six months, Energica said revenue had been five times higher than in the equivalent period of 2017 — and already well over twice turnover in the whole previous year. The company, which is listed on the Borsa Italiana’s small-cap AIM sector in Milan, saw its share price leap by 35% in response to this news.
However, such apparent success needs to be qualified. Energica’s 2017 full-year financial statement noted annual revenue of just €500,000 (£443,000) and admitted to a net loss of €5.8m (£5.13m).
The Modena-based manufacturer claimed this year’s sales had been particularly encouraging in Germany, Holland and Sweden. Best-selling product was the Ego superbike, followed by Eva and Eva EsseEsse9 streetfighter versions — the latter new for 2018. Energica’s Ego Corsa racer is currently raising profile with demo laps at European MotoGP rounds, to promote its role as Dorna’s chosen control machine for 2019’s inaugural FIM Enel MotoE World Cup as a MotoGP support series.
Commenting on her firm’s pace of growth, Energica chief executive Livia Cevolini said: “The result was achieved thanks to the extraordinary commitment of our entire team. The company also continues its important R&D commitment. This expertise has played a key role in development of the MotoE project and high demand from end customers confirms that we have taken the right path to establish ourselves as the leading brand of electric motorcycles.”