MV Agusta has announced a 30M€ share capital increase to support its 5-year business plan aiming to continue the Company’s worldwide growth.
Bringing MV Agusta’s net equity to a total of 70M€, the initiative also marks the positive.
Final and early settlement of all its obligations under the composition with creditors on a going concern basis (“concordato preventivo in continuità aziendale” in Italian law).
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An uncommonly positive achievement that made possible thanks to the relevant support from MV Agusta’s shareholders.
Since 2019, when the Sardarov family became the sole shareholder of the Company. More than 150M€ are injected into the business to support operations and the investments of the new industrial plan.
MV Agusta now arrives in a powerful position to execute its strategic plan, focusing on developing the new engines and models.
The brand’s expansion into new segments, such as adventure, electric recreational. And urban mobility, and strengthening its global sales network.
The relaunch of such a historic Italian Company also has positive effects on the local community. We are helping maintain employment levels.
And they are contributing to the Italian economy in general during this 2020 – 2021 difficult period.
Quotes
Timur Sardarov, CEO of MV Agusta Motor S.p.A., said: “One of my first objectives was to put an end to the financial stress. The Company had been experiencing and lay the industrial and commercial structures for growth.
Today all these objectives have been reached in total. And now, we can look at the future with renewed confidence while we continue to move from one successful product to another.
This capital injection will boost our business on all fronts, from design, development. And the production of new stunning bikes to providing world-class service to all our customers. And expanding our 3.0 worldwide dealers network.
In 2021 we expect to exceed 100M€ revenues for the first time in our history and to triple our performance within the next three years.“
Massimo Bordi, Vice Chairman of MV Agusta Motor S.p.A., added: “MV Agusta is an excellent brand with a prestigious heritage. It’s always had beautiful products that everybody appreciates for their unique design, high performance and advanced technology.
That’s why I see great potential in the Company today, which I hadn’t seen in the past years. We have finally created the conditions to allow MV Agusta to write a new successful chapter in the history of motorcycling.“
About MV Agusta Motor S.p.A. MV Agusta is one of the world’s premium motorcycles manufacturers. Based in Varese, in Northern Italy, it crafts legendary racetrack-derived bikes.
Iconic design and class-leading performance through advanced technologies. And materials make MV Agusta motorcycles admired the world over and celebrated as unique pieces of Motorcycle Art.
Since 1945, the brand has evolved to become a reference point in the industry, having won 37 World Championship titles. A record is still undisputed.
