2020 proves a solid year for Ducati with positive cash flow
Ducati has celebrated a strong 2020 in spite of the challenges of COVID, including a seven-week halt of production. 48,042 motorcycles were delivered to customers, which while down on the 2019 figure of 53,183, saw a €676 million turnover and €24 million in operating profit, equal to an operating margin of four per cent.
2020 also saw the introduction of the Australian and New Zealand subsidiary to directly manage distribution in Australia, after a successful 55-year partnership with NF Importers.
“We introduced the Australian and New Zealand subsidiary in July 2020 – in a pandemic environment this was not without significant challenges for all stakeholders. The Streetfighter V4 and Panigale V2 were the highlight of the year for the Australian market and allowed us to increase our market share in a surprisingly dynamic market. In 2021 we will see the introduction of two key models to the Australian market being the acclaimed Multistrada V4 and all new Monster 937. We will continue to develop our dealer network in order to ensure the needs of Ducatisti are met and the Ducati passion is alive and strong.”
The end of 2020 saw revenue reach a figure of €676 million (2019: €716 million) and operating profit of €24 million (2019: €52 million), with an operating margin of four per cent. A sales growth trend compared to 2019 was observed in China (+26%), Germany (+6.7%) and in Switzerland (+11.1%). Italy remains the primary market for Ducati, followed by USA.
The turnover per-bike figure has grown to €14,883/motorcycle (2019: €13,500), representing the highest value ever reached in the history of the company. This consistently reflects the strategy of evolving the product range towards the highest and premium part of the market.
Claudio Domenicali – CEO Ducati Motor Holding
“2020 was indeed a challenging year but we are satisfied with our financial performance throughout. Thanks to rigorous discipline, we were able to reduce fixed costs thus limiting operating margin drop. At the same time, vastly reducing inventories had positive effects on cash flow, which is the best ever recorded to date. Investments in new products were fully untouched and this paved the way for a positive development of Ducati in the future. A heartfelt thank you goes out to the women and men of Ducati who, every day, with passion and dedication, contribute to the company’s strength and success even in this very complex and tough year.”
Strengthened by the results achieved thanks to the continuous support of its working women and men, Ducati is now ready to face the new year. In 2020, the Italian motorcycle manufacturer has again confirmed to be one of the most attractive employers, achieving the Top Employer Italy certification for the seventh consecutive year. Over the past year Ducati, that counts 1,800 employees, was able to respond quickly to the evolving situation imposed by the pandemic in terms of working arrangements.
From the beginning of March an internal task force was set up and several initiatives were put in place to support workers and their families, such as maximum flexibility of working hours and help in finding home care services for children and the elderly through the company’s Welfare platform.
The Ducati sales network consists of 738 dealers in over 90 countries. Deliveries of the new range will begin in 2021, including the Ducati Scrambler Desert Sled Fasthouse and the new Monster, the motorcycle that represents the essence of Ducati in the lightest, most compact and essential form possible. The new Multistrada V4, SuperSport 950 and the Ducati Scrambler Nightshift are already available worldwide at Ducati dealers.
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