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MILAN, Oct 31 (Reuters) - Italian motorcycle maker Ducati confirmed its 2007 profit margin forecast on Wednesday after posting a 107.5 percent rise in core profit for the first nine months, as new models like the SBK 1098 helped boost sales.
Shares in the maker of racing bikes driven by Australian world champion Casey Stoner raced 8.5 percent higher to close at 1.972 euros, their highest level in about two months.
Ducati Motor Holding SpA (DMH.MI: Quote, Profile , Research), whose quarterly results have been improving this year after the company underwent a major restructuring, said core profit or earnings before interest, tax, depreciation and amortisation (EBITDA) totalled 49.9 million euros ($72.1 million) against 24 million for the same period last year.
Revenue was up 43.8 percent at 322.2 million euros.
Ducati said it made a net profit of 17.6 million euros for the third quarter, against a loss of 4.6 million.
"In light of the results up until today, notwithstanding the euro's strength, we foresee an improvement in EBITDA to 13 percent of revenues for this year," Financial Director Enrico D'Onofrio said in a statement.
Chief Executive Gabriele Del Torchio said the motorcycle maker's brand stood to benefit from Stoner's recent victories. Stoner won his 10th race of the year in Malaysia on Sunday.
Last month, he got his first world title in Japan's Grand Prix. The victory was Ducati's first MotoGP title. It was also the first non-Japanese team to win the premier-class title since MV Agusta won the 500cc championship in 1974.
"These results will strengthen our brand and our market appeal," Del Torchio said in the statement.
In December, Ducati is to present its plans for the 2008-2010 period.
MILAN, Oct 31 (Reuters) - Italian motorcycle maker Ducati confirmed its 2007 profit margin forecast on Wednesday after posting a 107.5 percent rise in core profit for the first nine months, as new models like the SBK 1098 helped boost sales.
Shares in the maker of racing bikes driven by Australian world champion Casey Stoner raced 8.5 percent higher to close at 1.972 euros, their highest level in about two months.
Ducati Motor Holding SpA (DMH.MI: Quote, Profile , Research), whose quarterly results have been improving this year after the company underwent a major restructuring, said core profit or earnings before interest, tax, depreciation and amortisation (EBITDA) totalled 49.9 million euros ($72.1 million) against 24 million for the same period last year.
Revenue was up 43.8 percent at 322.2 million euros.
Ducati said it made a net profit of 17.6 million euros for the third quarter, against a loss of 4.6 million.
"In light of the results up until today, notwithstanding the euro's strength, we foresee an improvement in EBITDA to 13 percent of revenues for this year," Financial Director Enrico D'Onofrio said in a statement.
Chief Executive Gabriele Del Torchio said the motorcycle maker's brand stood to benefit from Stoner's recent victories. Stoner won his 10th race of the year in Malaysia on Sunday.
Last month, he got his first world title in Japan's Grand Prix. The victory was Ducati's first MotoGP title. It was also the first non-Japanese team to win the premier-class title since MV Agusta won the 500cc championship in 1974.
"These results will strengthen our brand and our market appeal," Del Torchio said in the statement.
In December, Ducati is to present its plans for the 2008-2010 period.
