Despite admissions of a particularly challenging competitive environment and market conditions in 2024, Ducati chief executive Claudio Domenicali and his chief financial officer Henning Jens managed to fall back on the excuses of protecting overall profitability and prioritising long-term sustainability, rather than just aiming for increased sales volume, to secure Ducati’s presence on the bottom rung of Volkswagen’s Audi-led Brand Group Progressive.
Having said that, their full-year financial outcome wasn’t exactly desirable. Annual revenue fell by 5.8% to £844.3m, narrowly scratching up past the billion-euro mark for a third consecutive year. But operating profit was a painful 18.4% down to £76.6m, allegedly influenced by negative forex effects and higher depreciations. Operating margin dropped from 10.5% to 9.1%.
Total worldwide retail sales declined by 6.4% to 54,495 units, reportedly reflecting both the aforementioned tough market conditions and fierce competition. The Dual/Hyper bracket of Hypermotard, DesertX and especially cash-cow Multistrada models did best, with customer deliveries 13.4% up to 23,092. The Scrambler sub-brand did worst, 24.4% down to just 6217. The Naked/Sport Cruiser segment’s Diavel, Monster and Streetfighter range shrank by 18.7% to 15,220. The Sport slot, armed with Supersport and Panigale kit, dropped by 8.7% to 9966.
European countries accounted for 60% of sales, rising from 57%. China, including Hong Kong, fell to just 4% from 5%. The USA’s slice slipped to 13%, from 14%. Various other markets were responsible for 24%, against 25% in 2023.
Ducati’s full-year production crept higher by 1.3% to 55,956 units. Dual/Hyper claimed the lion’s share, 30.9% up to 24,546. Sport was 3.5% down to 10,531 and Naked/Sport Cruiser down by 12.8% to 14,799. Scrambler took a 29.2% dive to 6080.
For 2025, Ducati is dependent on ten new models, which it says will enrich an increasingly complete, sophisticated and technologically advanced range. These include the XDiavel V4 and Multistrada V4 with V4 Granturismo engines, Panigale V4 and Streetfighter V4 models with the latest Desmosedici Stradale engine, plus Panigale V2, Streetfighter V2 and Multistrada V2 models, all featuring the lightest twin-cylinder motor ever made by Ducati. And there’s a motocrosser available in selected dealerships too — all no doubt predicated by difficult circumstances evaporating imminently.
€-£ currency translation at forex rates applicable on 18 March