The Board of Directors of
Ferrari, chaired by Luca di Montezemolo, have met to
examine the results at 30th September.
Revenues for the third
quarter totalled 446 million euros, 12.6% higher than
the figure for the third quarter of 2009. 1,398 cars
were delivered to dealers (+3.9%). Trading profit was
excellent, showing a growth of 46% reaching 76 million
euros, the equivalent of 17% of income compared to the
13% achieved in the third quarter of 2009.
This result is mainly
due to increased sales, progress in the personalisation
programme, and continuing efforts to increase efficiency
in all areas of the company, including the racing
department. In terms of models, the California continues
its success and the 458 Italia has performed
excellently. Deliveries of the latter have already
started on all markets, and are destined to speed up in
coming months.
Results for the first
three quarters show revenues of 1,349 million euros
(+4.8%) and a total of 4,598 cars delivered to dealers
(+2.4%). Ferrari’s trading profit for the period came to
192 million euros, compared to 176 million euros last
year (+9%). A good result in terms of industrial cash
flow, which reached a record figure of 213 million euros,
a particularly important result given the constant high
level of investment in product development
“The economic results,
like the sporting results,” commented Luca di
Montezemolo, “sum
up the great team effort put in by all at Ferrari. In a
market that remains unstable, Ferrari has continued to
offer cars which are exclusive, innovative and of high
quality, allowing us to take advantage of important
sales opportunities. In racing, determination and the
will never to give in have enabled us to get one of our
drivers into the lead in the Formula 1 championship. We
must continue with this commitment, both in the markets
and on the track to bring an exceptional 2010 to a
fitting conclusion.”
In the first nine
months, some of Ferrari's traditional markets that were
particularly badly hit by the crisis are picking up:
North America is up by 5%, the UK up by 17% and
Australia up by 10%. Among new markets, strong growth in
China has continued, with an increase of 15%.
Brand-related activities (retail, licensing and
e-commerce) are also returning positive results. Ferrari
Store revenues have risen by 30%, while earnings from
the online store have risen by 55%. The Ferrari Virtual
Academy - a computer simulator - has proved a great
success, and has already attracted over 20,000 players
from 200 countries in around a month from its launch.
Licensed products have also seen growth of almost 10%
and today the opening of Ferrari World Abu Dhabi sees
not only the inauguration of the first amusement park
for Ferrari, but the first in automotive history as well
as the sport in general. The park is aimed at families,
and features attractions that use the latest technology
to tell the history of Ferrari.
