Ferrari posts record results in first half of 2012

Maranello, September 14, 2012: Sports car manufacturer Ferrari has registered record revenues and the numbers of cars delivered between January and June 2012 . Revenues reached 1,208 million euro/Rs 8,600 crore (+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 percent to 152.2 million euro (Rs 1,082 crore), while net profits hit 100.8 million, an increase of 10 per cent.The company’s industrial net cash position as of June 30 reached a new record figure of 895 million euro (Rs 6,372 crore) with extremely high investments in product development.

Ferrari says these results are thanks to the continuing success of its 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 later this year. Sales in the US remain buoyant with an increase of 17 percent to 851 cars, and it continues to be Ferrari’s largest market, accounting for 23 percent of worldwide sales. There were record sales in the UK too where sales rose by 43 percent with 393 cars delivered. There were also significant results from Germany (+18 percent) and Switzerland (+17 percent), 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 percent). Markets in the Middle East continue to expand with 190 cars delivered in H1 (+7 percent).

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 of 164 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 (pictured).