Record Results for Ferrari in first half of 2012

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Ferrari has managed to register a record in revenues and in the numbers of cars sold in first half of 2012. Revenues reached 1,208 million euro (+11.9 per cent), while a total of 3,664 homologated road cars were delivered to dealerships, an increase of 7.4 percent. Trading profits rose 13 per cent to 152.2 million euro, while net profits hit 100.8 million, an increase of 10 per cent. The company’s industrial net cash position as of June 30th reached a new record figure of 895 million euro with extremely high investments in product development. The net cash flow for H1 was 203 million euro before dividends. The record sales and profit due to the success of Ferrari’s 8-cylinder models, particularly the new Ferrari California 30 and the 458 Spider. In the 12-cylinder range, FF sales are strong while the new F12berlinetta has yet to make any impact on results as deliveries do not begin until the autumn.

Sales in the USA, an important market for Italian supercar maker, remain buoyant with an increase of 17 per cent to 851 cars. US sales account for 23 per cent of Ferrari’s worldwide sales.

Sales at UK too have seen a healthy growth with increase of as much as 43 per cent. There were also significant results from Germany (+18 per cent) and Switzerland (+17 per cent), nations where the FF is proving most popular.

In the Far East, Greater China (China, Hong Kong and Taiwan) has consolidated its growth levels with almost 400 cars delivered (+10 per cent). Markets in the Middle East continue to expand with 190 cars delivered in H1 (+7 per cent). The figures for Italy, however, are in marked contrast to this extremely positive overall picture. As a result of the financial crisis and the introduction of new taxes, sales there dropped to 187 cars, a drop of164 compared to the first half of 2011.

“These results, achieved against a still highly challenging international economic backdrop, are first and foremost a reward for our constant and significant investment in technological innovation. The completely new range we are now in a position to offer clients across the globe means we can look forward to ending 2012 having improved still further on last year’s financial performance,” commented Chairman Luca di Montezemolo. “Over the coming months, we will be focusing hard on a revolutionary new road car and on the last races in a Formula 1 World Championship that looks set to be both thrilling and hard-fought to the very last.”

Returning to the H1 results, there was again positive news from the Brand division: Ferrari’s retail activities continue to grow (up by 4 per cent), while the number of Ferrari Stores is also on the increase with recent openings in Madrid, Munich and Rio de Janeiro, bringing the total worldwide to 52. The Abu Dhabi Theme Park continues its on-going success.

On the licensing front, Puma performed well, while Hublot made an excellent start in the luxury products segment. Lastly, the sponsorship agreement between Scuderia Ferrari and Santander has been extended to 2017. Ferrari’s online activities continue their very positive trend with e-commerce revenues up by 24 per cent, while visitors to the web site rose by 22 per cent.

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