Ferrari’s Board of Directors examines 9-month results. Record industrial cash flow: 213 million euro. Revenues for the quarter at 446 million euro +12.6% and trading profit up by 46%
Web income continues to grow: a 55% rise in earnings from the online Ferrari Store
Ferrari’s first licensed theme park opens tomorrow in Abu Dhabi
Maranello, 26th October - The Board of Directors of Ferrari met today, chaired by Luca di Montezemolo, to examine the results at 30th September.
Revenues for the quarter totalled 446 million Euros, 12.6% higher than the figure for the third quarter of 2009. 1,398 cars were delivered to dealers (+3.9%).
Trading profit was excellent, showing a growth of 46% reaching 76 million Euro, the equivalent of 17% of income compared to the 13% achieved in the third quarter of 2009. This result is mainly due to increased sales, excellent progress in the personalisation programme, and continuing efforts to increase efficiency in all areas of the company, including the Racing Department.
In terms of models, the California continues its success and the 458 Italia has performed excellently. Deliveries of the latter have already started on all markets, and are destined to speed up in coming months.
Results for the first three quarters show revenues of 1,349 million Euro (+4.8%) and a total of 4,598 cars delivered to dealers (+2.4%).
Ferrari’s trading profit for the period came to 192 million Euro, compared to 176 million Euro last year (+9%).
An extraordinary result in terms of industrial cash flow, which reached a record figure of 213 million Euros, a particularly important result given the constant high level of investment in product development
“The economic results, like the sporting results,” commented Luca di Montezemolo, “sum up the great team effort put in by all at Ferrari. In a market that remains unstable, Ferrari has continued to offer cars which are exclusive, innovative and of high quality, allowing us to take advantage of important sales opportunities. In racing, determination and the will never to give in have enabled us to get one of our drivers into the lead in the Formula 1 championship. We must continue with this commitment, both in the markets and on the track to bring an exceptional 2010 to a fitting conclusion.”
In the first nine months, some of our traditional markets that were particularly badly hit by the crisis are picking up: North America is up by 5%, the UK up by 17% and Australia up by 10%. Among our new markets, strong growth in China has continued, with an increase of 15%.
Brand-related activities (retail, licensing and e-commerce) are also returning positive results. Ferrari Store revenues have risen by 30%, while earnings from our online store have risen by 55%. The Ferrari Virtual Academy - a computer simulator - has proved a great success, and has already attracted over 20,000 players from 200 countries in around a month from its launch.
Licensed products have also seen growth of almost 10% and tomorrow the opening of Ferrari World Abu Dhabi sees not only the inauguration of the first amusement park for Ferrari, but the first in automotive history as well as the sport in general. This fantastic park is dedicated to families, and features spectacular attractions that use the latest technology to tell the history of Ferrari and convey the unique passion and emotion transmitted by our brand.