Ferrari celebrates best six months in its history in terms of revenues (+19.6%) and cars delivered 3,577 (+11.8%)
Net profits of 91.8 million Euros (+23.5%)
Record industrial net cash of over 650 million Euros
Exceptional results in the USA (+23%) with China (+116%) now second largest market
Success too for the 458 GT and Challenge: 176 sold for racing worldwide
Maranello, 27th July – The board of directors of Ferrari S.p.A. met today under the chairmanship of Luca di Montezemolo to examine the company’s financial results for the first six months of 2011.
On June 30th, Ferrari recorded excellent financial results with two indicators reaching record levels: revenues of 1,080 million Euros (+19.6%) and 3,577 cars delivered to the network, an increase of 11.8% over the first half of 2010.
These results come thanks to the success of the two 12-cylinder limited series – the 599 GTO and the SA Aperta – and the strong performance of the 8-cylinder models with the California the standard-bearer in the GT sector and the 458 Italia the benchmark in the sports car area.
100% of the Ferraris built were personalised by clients who will also be able to avail of the new Tailor Made programme from September. This innovative programme enables clients to create an individual car, using exclusive and unique materials, colour and trim with the support of a dedicated team, just as if it were a bespoke suit.
Ferrari underscored the traditionally close links between its road cars and the racing world with “track” versions of the 458, of which 176 were sold for GT competitions across the globe and the Ferrari Challenge one-make series. In fact, this year saw the introduction of the new Asia Pacific series to the latter with round two held last Sunday in Shanghai in front of 20,000 spectators.
The FF hasn’t yet made any contribution to the company results. Deliveries of Ferrari’s first four-wheel drive four-seater have only just begun but the car’s unveiling met with great success on the various markets.
Ferrari’s trading profit grew by 19 million to 135 million Euros, while its net profit jumped by 23.5% (91.8 million Euros).
The company’s industrial net cash position is also excellent, having reached in excess of 650 million Euros on June 30th. This record figure was achieved whilst continuing to invest very heavily in product development, and with a net cash flow for the first half amounting to 222 million Euros before dividend distribution, an unprecedented achievement in any six-month operating period.
With regard to sales, North America maintained its position as Ferrari’s no. 1 market with 939 vehicles delivered during the six-month period, an unprecedented leap of 23.2% vs. 2010. Volumes were also higher in the Greater China region (Mainland China, Hong Kong and Taiwan) with 378 vehicles delivered in the first six months (+116% vs. 2010). This performance means that the main Asian market is now Ferrari’s second largest worldwide, overtaking Germany where volumes remained the same as last year with 337 cars delivered.
There were also impressive results in the UK where deliveries rose sharply by over 50% up to 289 cars, while other nations are in line with the first half of 2010.
“If the trend for the first six months continues at these levels in the second half of the year, 2011 will be remembered as one of the best in Ferrari’s history, taking us back to the record results of 2008. This is a demonstration of the soundness of the strategy we’ve adopted in terms of market expansion and constant product innovation,” commented Luca di Montezemolo. “Furthermore, we also recently began deliveries of the new FF and we’re taking our first orders from India – the impact of both of these factors will only be seen in the second half of 2011.”
The news from Ferrari’s brand activities is also positive: retail grew by 45%, thanks in part to new openings that take the total number of Ferrari Stores worldwide to 46. Topping the rankings in that regard is the Store in the Ferrari World theme park in Abu Dhabi which recently welcomed its 600,000th visitor.
On the licensing and sponsorship fronts, contracts with strategic partners such as Puma were extended in the first six months of 2011 too.
Ferrari is also very much involved in online activities. Aside from the ongoing success of the www.ferrari.com website, our social network presence continues to grow. Ferrari’s official Facebook page now has almost 5 million friends and our online sales have increased by 40%. The latest news is that a new digital version of the Ferrari Official Magazine has also been released.