|
The Ferrari
S.p.A. Board of Directors, chaired by Luca di Montezemolo,
met today to review the balance sheet for the financial year
ended 31 December 2005. The very positive figures listed do
not include any Maserati business as Ferrari split from the
Trident brand during 2005. Ferrari's three main areas of
business - road cars, competition cars and brand development
- yielded a significant increase in revenues from 1,175
million euros in 2004 to 1,289 million euros in 2005. This
9.7 pct increase is due in great part to the success of the
F430 and 612 Scaglietti models, and to the sales of the
company's two limited edition cars, the Superamerica and the
FXX.
The trading profit of 157 million euros, a significant
increase of 13.8 pct over the previous financial year, can
be attributed principally to the rise in sales revenues and
to efficiency gains which were partially offset by the
negative impact of the euro-dollar exchange rates (around
one third of Ferrari's revenues are in fact in dollars).
Ferrari has returned to a positive net financial position
with a balance of 13 million euros.
A total of 5,409 cars were delivered to their owners also,
an increase of 8.7 pct over the previous year. North
America, where deliveries increased by 7.6 pct on 2004,
Europe (+11.5 pct) and the new or developing markets, such
as the Middle East (+41.5 pct) and South America (+35.5 pct)
all played an important role in the results. Thanks to a new
network of 12 dealerships in China's most important regions,
Ferrari also delivered 96 cars to its joint venture there,
doubling the 2004 figure.
|
 |
|
Ferrari's 9.7 pct increase is due in great part to
the success of the F430 (above in Geneva this week)
and 612 Scaglietti models, and to the sales of the
company's two limited edition cars, the Superamerica
and the FXX. |
|
|
 |
|
After the Board Meeting, Ferrari President Luca di
Montezemolo (seen here introducing the 599GTB
Fiorano in Geneva on Tuesday) declared:
"Economically and in terms of new markets and
product success, it was an extraordinary year. In
fact, our trading profit increased by almost 14 pct,
a significant leap by any standards." |
|
|
A total of 219 million euros - or 17 pct of the carmaker's
turnover - was assigned to non-Formula 1 Investments and
Research and Development, and resulted in the creation of
the new models launched in the course of the year - the F430
Spider, the Superamerica and the FXX - and the development
of the 599 GTB Fiorano, which was revealed this week.
Lastly, Ferrari's brand development continued thanks to its
licensing contracts and the opening of new Ferrari Stores in
Las Vegas, Shanghai, and Hangzhou in Milan). Returns from
this area have tripled for Ferrari during the last five
years and now represent a significant source of income for
the company.
After the Board Meeting, Ferrari President Luca di
Montezemolo declared: "Economically and in terms of new
markets and product success, it was an extraordinary year.
In fact, our trading profit increased by almost 14 pct, a
significant leap by any standards."
|
|
|
|
