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Bologna, Italy - (AMN) Ducati Motor Holding S.p.A., a manufacturer of high performance motorcycles, announced record financial results for the six months ended June 30, 1999, with net income at an all-time high of Lit. 11.8 billion (US$6.3 million).
As previously reported, the Company announced six-month consolidated sales of Lit.330.9 billion (US$176.5 million), a 23.0% increase over the Lit. 268.9 billion (US$143.4 million) for the first half of last year.
For the first six months, gross margin increased to 38.7% from 37.7% as robust sales of high-margin accessories and apparel and stronger distribution efficiencies offset pressure on average motorcycle margins resulting from the continuing success of the Monster family which carries a lower-than-average margin.
\"We are extremely pleased with our record first-half results. The growing awareness of the Ducati brand, particularly in key markets, drove strong top-line gains that validate the sustained growth pattern that we achieved over the past three years since the 1996 acquisition,\" said Carlo Di Biagio, Ducati Chief Financial Officer. \"Our brand-building efforts have allowed us to include younger Ducatisti while at the same time maintaining our stronghold with discriminating enthusiasts, all the while preserving the integrity of the Ducati brand. Additionally, we are proving that our strategy of assuming control over our distribution networks ensures a strong Ducati presence at the local level and generates greater profitability. We remain pleased with our success to date and are confident that our strategies position us correctly for sustained future growth.\"
If you\'d like to know more, read the full financial report.
