Italian bike maker MV Augusta plans to reach Milan’s stock market by 2015, as it plans to implement a new growth strategy.
“Over the next three years we aim to double (motorcycle) sales with a solid capital structure, and we are convinced that the outcome will be the listing of the company on the stock exchange,” Chief Executive and President Giovanni Castiglioni said in a statement.
An anonymous source familiar with the matter said that MV Augusta plans to increase its revenue to 120 million euro annually by 2015, from this year’s forecast number of 90 million euro, relying on the launch of the new bike models, including the Rivale 800 supermoto. If the company will hit its targets, it might worth around 150 million euro when it will list.
MV Augusta rivals Ducati, for the acquisition of which VW paid 750 million euro in 2012, when the company generated 606 million euro from selling 44,100 motorcycles and also an operating profit of 58 million euro.
Unfortunately, since 2007 the motorcycle market in Europe has almost halved, due to the uncertainty in the industry. Over the past decade the company has faced financial issues and has changed several owners. In 2010 Castiglioni bought back the company, which is now run by his son.