Ducati to Post Loss
January 14, 2005
Filed under Features
Ducati Motor Holdings Chief Executive Federico Minoli says the company's fourth quarter performance was as expected and confirmed the full-year forecast of a post-tax loss of about 6 million euro ($7.8 million) and a 5% drop in unit sales.
Ducati cut its 2004 earnings forecast in November after heavy losses in the third quarter due to a weak dollar - about 20% of Ducati's unit sales are in North America - a delay in the launch of the Monster S2R and 999 models, and a general drop in unit sales.
In a recent interview with Reuters, Minoli said Ducati needed 100-120 million euro ($131 million - $157.2 million) this year to refinance debt, including about 40 million euro ($52.4 million) in outstanding bonds.
Responding to persistent rumors, Minoli said he was not aware whether U.S.-based private equity firm Texas Pacific Group wanted to sell its 33% stake in the motorcycle manufacturer.