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“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. |
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New Ferrari board member,
Eddie Cue, is Apple’s Senior Vice President Internet Software and Services and
oversees Apple's industry-leading content stores including the iTunes Store, the
revolutionary App Store and the iBookstore, as well as Siri, Maps, iAd and
Apple's innovative iCloud services. |
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The Ferrari board of directors met
this week 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.
The USA confirmed its position as Ferrari’s largest market internationally with
26 per cent of total sales after delivery of 1,354 cars with a growth of 16 per
cent.
The UK market saw record sales of 504 cars, a leap of 37 per cent, while Germany
saw continued growth (+9 per cent) with 534 cars delivered, consolidating its
position as the largest European market.
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.”
Eddie Cue is Apple’s Senior Vice President Internet Software and Services and
oversees Apple's industry-leading content stores including the iTunes Store, the
revolutionary App Store and the iBookstore, as well as Siri, Maps, iAd and
Apple's innovative iCloud services. He is a 23-year Apple veteran and played a
major role in creating the Apple online store in 1998, the iTunes Music Store in
2003 and the App Store in 2008. He earned a bachelor's degree in Computer
Science and Economics at Duke University.
“I am pleased and proud to become a member of the board. I have personally
dreamed of owning a Ferrari since I was 8 years old and have been lucky to be an
owner for the past 5 years. I continue to be awed by the world-class design and
engineering that only Ferrari can do," said Eddie Cue, commenting on his
nomination to the board.
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's official website were also up by 20 per cent, while its Facebook
page has almost 10
millions fans and views on the Ferrari YouTube channel have exceeded 20 million.
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