Ferrari: More Record Results In First Quarter Of 2013

The Board of Directors of Ferrari S.p.A. met on 10 May under the chairmanship of Luca di Montezemolo to examine the final results for the first quarter of 2013.

On March 31st, Ferrari recorded best-ever quarterly revenues of 551 million euro (+8 percent on the same period in 2012).This amounted to a net profit of 54.7 million euro (+36.5 percent).

A total of 1,798 homologated cars were delivered to the dealership network in the first quarter of 2013 (+4 percent) with 12-cylinder models (the FF and the F12berlinetta) accounting for almost a quarter of sales.

The company’s industrial net cash position also exceeded the one billion euro mark, rising to 1.043 billion despite the fact that Ferrari kept product investment levels extremely high and plans to boost them still further in the short-medium term.

North America retained its status as our leading market by accounting for 27 percent of sales: 492 cars were delivered there in the first quarter of 2013 (+9 percent). Ferrari also achieved record results in the Far East with 336 cars delivered (+18 percent) and double-figure growth in both Japan and Australia.

Figures in Greater China (the People’s Republic of China, Hong Kong and Taiwan) were in line with the first quarter of 2012.

The Middle East showed strong growth with deliveries up 74 percent, counterbalancing the exact opposite scenario on the Italian market (-54 percent) where, however, Ferrari continues to lead the segment.

Also during the Meeting of the Board of Directors, Chairman Montezemolo reiterated the company’s plan – already discussed with shareholders and revealed to the world media in recent days – to reduce volumes in 2013 whilst increasing margins.

Ferrari’s Brand-related activities (licensing, retail, e-commerce) continue to develop very rapidly: sales from the online store increased by 25 percent while licences are up 13 percent.

Ferrari now also has 11.5 million fans on Facebook, while the Ferrari YouTube channel has had over 30.5 million views.

Sponsorship is another area of growth. The start of the new Formula 1 season not only marked the return of longstanding partners, but also the arrival of the Scuderia Ferrari’s first Chinese sponsor, Weichai Power, a leading automotive component and machinery group, and prestige American logistics expert, UPS.

Source: Ferrari