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For Ferrari 2010 turned out to be an
extremely positive year with a number of
figures exceeding those achieved in 2008 –
the company's best year ever; cars delivered
hit a record 6,573, which was up 5.4 percent
year-on-year. |
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For Ferrari 2010 was
an extremely positive year with a number of figures
exceeding those achieved in 2008 – the company's best
year ever. Cars delivered to the sales network were
6,573, a figure representing a 5.4 per cent increase
over 2009, and Ferrari’s highest sales figure ever. This
excellent result is mainly attributable to the
extraordinary growth seen on emerging markets,
especially in Asia, and the return of the United States
market to record levels.
Net revenues for the year topped 1,919 million Euros
(+7.9 per cent) and the year’s trading profit topped
302.7 million Euro (+26.9 per cent). Profitability was
up too: ROS (Return on Sales) reached 15.8 per cent, one
of the best results in Ferrari’s history. This figure is
far higher than the average for the automotive industry,
and approaches that of the luxury goods sector.
Another exceptional result was achieved in the
industrial net cash for 2010. This figure stands at
630.8 million Euro, and demonstrates capacity for
self-finance. Cash flow came to over 290 million Euro.
Both these figures are Ferrari’s best ever. The above
figures are particularly significant because they were
achieved in the face of major product investments: in
line with recent years, these represented 15 per cent of
turnover.
Product investments do not include those made in Formula
One in 2010 which saw the Scuderia Ferrari Marlboro
return to the top of the championship tables in a season
that remained open until the last race. 2010 also saw
the beginning of an important new partnership with
Santander, which made its debut as sponsor, and the
renewal of other important contracts like the one in
force with Shell.
The results are due to the huge success encountered by
the different models in the range. The California, for
example, is winning over more and more customers thanks
to HELE, the system that, along with Stop&Start
technology, reduces CO2 emissions by 23 per cent by
guaranteeing maximum efficiency through the intelligent
control of vehicle components. The 458 Italia went on
sale in 2010 and immediately captured the attention of
the market and the praise of critics to become the
reference model in its segment, taking the world’s most
coveted awards. The limited edition 599 GTO also proved
extremely successful, with all 599 examples being sold
even before the car was officially presented at the
Beijing Auto Show. Ferrari’s personalisation business
also made a significant contribution, with a second
Atelier being opened in Maranello, as well as one in
Tokyo and another in New York.
Breaking sales down into geographic areas, China grew by
43.6 per cent with nearly 300 cars sold, setting a new
record. If we add Hong Kong and Taiwan, and consider the
so-called Greater China area, this total rises to 478
cars (+23.8 per cent). This figure puts the Asian market
in fourth place in terms of sales worldwide. The Middle
Eastern countries also performed extremely well. 349
cars were sold, maintaining the excellent level set last
year, despite the still challenging economic conditions.
The United States also set a new record by registering
12.7 per cent growth and selling 1,576 cars. North
America as a region (including the United States and
Canada) confirm its position of main market, accounting
for 26 per cent of sales. The European markets, which
have not experienced the long-awaited economic recovery,
nevertheless remained substantially stable. In
particular, the UK took 467 cars, 58 more than in 2009.
The signs coming from Eastern Europe were also positive.
Though the region is still only marginal in terms of
overall sales, it nevertheless recorded a growth of
almost 5 per cent.
Important results achieved also in Brand activities
(retail, licensing and internet). The number of Ferrari
Stores increased in 2010 with prestigious new openings
on Park Avenue in New York, and in Johannesburg, where
the existing Store was joined by a new one, bringing the
total of the Stores worldwide to 40. On the licensing
side the most important novelty was the opening last
November of the immense Ferrari World theme park in Abu
Dhabi. In its first months of activity the park has
exceeded expectations, and the Ferrari Store inside it
immediately emerged as the best performer of all the
Stores.
Internet activities grew as well, with the
www.ferrari.com website scoring over 300 million page
views. Ferrari’s social network channels, including
Twitter and Facebook, proved highly successful too, with
the latter in particular attracting over 3 million
members in a short period of time. The site is now
available in seven languages, including Japanese and
Chinese. An Arab language version is due to go online
this year.
Another two significant statistics further confirm an
extraordinary 2010: The Ferrari Museum in Maranello drew
in over 225,000 visitors for the first time ever, with
over 60 per cent of these coming from outside Italy
while the opening up of the Indian market was confirmed,
with the first official dealership which will open in
New Delhi this spring and a second in Mumbai by the end
of the year. India takes the total number of countries
in which Ferrari has a presence to 58.
“After the great
satisfaction due to the extraordinary results of 2010 we
have to approach 2011, which presents itself full of
challenges," said Ferrari Chairman Luca di Montezemolo
after the meeting. "Starting from the new models, at the
Geneva Motor Show we will present the FF, the first car
with four-wheel drive and exceptional performance, while
regarding international expansion there will be the
eagerly expected opening of the first dealership in
India. As far as the motorsport season is concerned,
which is about to start, Ferrari wants to be again among
the main protagonists in an F1 Championship, which
announces itself as highly contested. At the same time
we have to continue the brand’s development. 2011 will
be characterised by strong investments and lots of
innovation, relying, as usual, on the exceptional
people, who are our most important patrimony."
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