The Board of Directors of Ferrari S.p.A. met under the chairmanship of Luca di Montezemolo to examine the company’s financial results for the first six months of 2012.
As of June 30 2012, Ferrari once again registered a record in revenues and in the numbers of cars delivered. Revenues reached 1,208 million euro (+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 per cent to 152.2 million euro, while net profits hit 100.8 million, an increase of 10 per cent. The company’s industrial net cash position as of June 30th reached a new record figure of 895 million euro with extremely high investments in product development. The net cash flow for H1 was 203 million euro before dividends.
These results are the fruit of the continuing success of Ferrari’s 8-cylinder models, particularly the new Ferrari California 30 – where ‘30’ represents the 30 extra horsepower and 30 kg lower weight – and the 458 Spider, the engine of which received the Best Performance Engine of the Year award for the second year running. In the 12-cylinder range, FF sales are strong while the new F12berlinetta has yet to make anyimpact on results as deliveries do not begin until the autumn. That said, the new model has been the subject of public and critical acclaim, taking a number of awards, such as the Auto Bild Design Award.
Sales in the USA remain buoyant, with an increase of 17 per cent to 851 cars, and it continues to be Ferrari’s largest market, accounting for 23 per cent of worldwide sales. Record results came from the UK as well, where sales rose by 43 per cent with 393 cars delivered. There were also significant results from Germany (+18 per cent) and Switzerland (+17per cent), nations 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 per cent). Markets in the Middle East continue to expand with 190 cars delivered in H1 (+7 per cent).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 of164 compared to the first half of 2011.
