March 31, 2004 – Finance Digest

Ducati Motor Holding posted earnings before interest, tax, depreciation and amortisation (EBITDA) of $57.7 million for 2003, compared to $67 million for 2002, according to preliminary results released by the company.
Ducati generated revenues of $497.4 million for 2003, down 1.9%.
Ducati’s sales worldwide fell 3.0% in 2003. The company says 2003 sales in the U.S., the U.K., France and Japan fell by 17%, 16%, 8.0% and 7.0%, respectively. Full-year sales in Germany, Italy and the Benelux countries — Belgium and Holland — rose 1.0%, 1.0% and 6.0%, respectively.
For the fourth quarter, October through December 2003, Ducati reported an EBITDA of $18.2 million, a 30.5% year-on-year increase. Revenue for the period was up 5.3% to $132.7 million, the company said. It registered a pre-tax profit of $9.0 million for October to December 2003 versus $6.1 million for the same period of 2002.
Ducati says fourth quarter sales were up 2.0%, with sales in Germany, Italy and Japan up 53%, 18% and 9.0%, respectively, while sales in the Benelux countries, the U.S., France and the U.K. fell 8.0%, 12%, 12% and 37%, respectively.
On Dec. 31, 2003, Ducati paid approximately $501,000 to buy back 293,235 shares equal to a 0.185% stake in the company.

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