Revenues over 1.7 Euro Million in first nine months of 2012Ferrari board of directors met today under the chairmanship of Luca di Montezemolo to examine the company’s financial results for the first nine months of 2012.
As of September 30th, Ferrari has recorded unprecedented revenues of 1,764 million euro (+10 per cent) and numbers of cars delivered to the dealership network 5,267 (+6 per cent).
Trading profits increased by 9.6 per cent to 232.8 million euro, while net profits grew 7.6 per cent to 152.4 million.
The company’s industrial net cash position reached almost 1 billion euro - an all-time record figure of 959 million euro - despite continuing commitment to maintaining an extremely high level of investment in product development. Ferrari also chalked up a net cash flow of 251 million euro in the first nine months of the year.
The product mix was excellent with 12-cylinder model sales up 22 per cent thanks to the success of the FF and the 8-cylinder models, particularly the Ferrari California 30 and the 458 Spider. The racing GT2 and GT3 versions of the 458 Italia took the titles in their respective categories last weekend in the GT Open Championship after having already won the FIA World Endurance Championship beating competition from the world’s leading manufacturers.
In the Far East, the positive trend in Greater China continued (+7 per cent) with 566 cars delivered, while Japan saw deliveries of 214 cars, an increase of 20 per cent. Results from the Middle East were in line with the excellent figures obtained in 2011, with 274 cars delivered.
Sales in Italy, as in the previous two quarters, were down with 238 cars delivered in the first nine months of 2012 (-49 per cent).
“These results confirm Ferrari’s excellent performance in practically all of the 60 nations in which it is present despite the continuing economic climate. Once again the exception is Italy where we have witnessed a drop partly due to the economic crisis, but also to a hostile environment for luxury goods which have long been, and continue to be, an important resource for the country,” said Luca di Montezemolo who then announced the addition of a new Ferrari board member. “I am delighted that Eddy Cue, one of the main driving forces behind Apple’s range of revolutionary products, has now joined our board. His huge experience in the dynamic, innovative world of the Internet will be of great assistance to us”
Ferrari’s Brand-related activities (licensing retail and e-commerce) continue to grow. Revenues from the online store are up 32 per cent while those generated by licenses were up 20 per cent, with Puma proving particularly robust. Ferrari also recently signed an agreement with Mondo TV for the production and distribution of The Drakers , an original animated series for young viewers that is inspired by the world of Ferrari. Visits to Ferrari.com were also up by 20 per cent, while Facebook has almost 10 millions fans and views on the Ferrari YouTube channel have exceeded 20 million.