Motorbike maker Ducati swings to profit in 2007

MILAN, Feb 14 (Reuters) - Italian motorcycle maker Ducati (DMH.MI: Quote, Profile, Research, Stock Buzz) reported a 2007 net profit on rising sales and cost cuts, and said it is targeting a 15 percent increase in revenues this year.

In a statement on Thursday, the company said it posted a net profit of 13.3 million euros ($19.43 million) in 2007, swing from a loss of 8.5 million euros the previous year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at 13.8 percent of revenues, and more than doubled from the previous year to 55 million euros.

"Our targets for 2008 are ambitious but within reach: a 15 percent rise in sales, an EBITDA margin of 15 percent and a positive net financial position," Chief Financial Officer Enrico D'Onofrio said in the statement.

Ducati -- whose racing bikes are driven by Australian world champion Casey Stoner -- said its sales grew 30.5 percent in 2007 to 397.7 million from 304.8 million euros, with the strongest increase on the UK market.

Ducati had net debt of 10.8 million euros at the year end, down from 54.2 million euros. (Reporting by Valentina Za; Editing by Quentin Bryar)