A capital increase of 30 million euros announced at the end of April in support of the five-year industrial plan, a shareholders’ equity that now amounts to 70 million euros, the early exit from the arrangement with creditors as a going concern. There are enough elements, despite the problems created by the pandemic, for MV Agusta to look to a future of global growth. Timur Sardarov, the Russian entrepreneur CEO of the company, is convinced of this, and since 2019 he has been the sole shareholder of one of the historic and most loved brands in Italian and world motorsport with his family.
Extra investments
«The capital increase was necessary because our company decided to exit the agreement one year in advance – he explains to beraking latest news – the company needs extra investments and we have strengthened our structure to achieve this goal. At the same time – adds Sardarov – the capital increase is a good sign for all our stakeholders. The company has now completed the internal and external restructuring process and is able to achieve the promised results ».
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Restyling of the range
Here then, continues the CEO of MV Agusta, that «this year we have carried out a re-styling and a re-engineering of our entire range. We are talking about seven models and 19 different bikes. We also release eight new bikes this month. We have one of the widest ranges of models among mid-sized manufacturers. By 2024, our range is likely to grow by 40%. We will launch two new engines and about 12 new bikes ». And this, he continues, “does not include bicycles and urban mobility products, the production of which will begin in the next two months”.
Transversal mobility
Because the ambition of the MV Agusta branded Sardarov is to become “a transversal mobility company: we want to bridge the gap between light mobility and heavier mobility, offering our customers a complete range ranging from small scooters to 210 horsepower motorcycles”. In recent months, two “rumors” have concerned the name of MV Agusta. The first, which assumed an acquisition by the Austrian KTM, is flatly denied. «MV Agusta has its own business plan and will remain alone for at least the next 5 years, until the plan we have announced is implemented. We will maintain our independence, the company does not need external partners ”, says Sardarov, who speaks of“ completely unjustified rumors ”.
The relaunch of Cagiva
The second “voice”, on the other hand, is creating many expectations among fans: a relaunch of the Cagiva brand and the legendary Elefant. «Cagiva is a brand that belongs to MV Agusta – explains Sardarov – we are considering whether to define Elefant as a“ sub-brand ”of MV Agusta or as Cagiva-Elefant. The decision has not yet been made ». Two engines are being studied: «A 550 cc and a 950 cc. Both projects take 24 to 28 months to complete. Perhaps – he adds – the 550 could arrive first ». While looking ahead to the future of MV Agusta, it is inevitable to stop and reflect on the pandemic and its consequences. “We experienced the pandemic in different phases – in the first, our ability to produce was affected. In the second phase, different problems were combined. That of supplies and that of the dealer network, which was affected by the closures ». On the strictly production front, says the CEO of MV Agusta, «we have maintained safety rules that have allowed us to continue producing. In the third phase – he continues – we suffered from instability in supplies, caused by the growth in demand for steel, semiconductors and electronic components. This has created instability in the whole sector not only in Italy, but in the world ». And yet, he explains, “we have managed to keep our plans for this year”.