Ferrari Shareholders’ meeting: 2010 balance sheet and distribution of 200 million in dividends approved. Board of Directors confirmed for further three-year period with no changes
Maranello, March 23rd – The Annual Meeting of Ferrari Shareholders took place today under the chairmanship of Luca di Montezemolo.
The Meeting approved the 2010 balance sheet which showed excellent results. As anticipated in recent weeks, Ferrari posted revenues of 1.919 million euro (+7.9%), while trading profit increased 26.9% to 302.7 million euro. Profitability improved too with a ROS (Return On Sales) of 15.8%.
The company’s industrial net cash stands at a record 630.8 million euro. These results saw dividend distribution for the financial year 2010 approved to the tune of 200 million euro in total.
The order of business also included the appointment of the Board of Directors. The Meeting confirmed all of the outgoing members for the three-year period 2011-2013. The board is thus made up of the following: Luca di Montezemolo, Piero Ferrari, Amedeo Felisa, Khaldoon Khalifa Al Mubarak, Alfredo Altavilla, Alessandro Gianni Baldi, Diego della Valle, Christopher Gent, Sergio Marchionne, Paolo Monferino, Lindsay Owen-Jones, Marco Piccinini and Sergio Pininfarina.
The Board of Directors met immediately afterwards and confirmed Luca di Montezemolo as Chairman, Piero Ferrari as Vice Chairman and Amedeo Felisa as CEO, assigning to them their relevant roles.