Join Date: Aug 2008
Location: South Africa
Ferrari Life Posts: 1,291
Ferrari examines 2009 1st half financial results
REVENUES HOLDING COMPARED TO RECORD 2008 FIGURES
STRONG GROWTH IN BRAND, INTERNET AND FINANCIAL SERVICES ACTIVIES
INVESTMENT IN ENVIRONMENT AND SAFETY CONTINUES: NEW 20 MILLION TRIGENERATION PLANT NOW UP AND RUNNING
Maranello, 8th September 2009. The Ferrari Board of Directors chaired by Luca di Montezemolo examined today the company’s 2009 first half financial results.
In the first six months of this year, Ferrari delivered a total of 3,226 cars to end clients (-8% compared with the same period of 2008). A positive result, given the particularly negative conditions currently on the world markets and compared with the first half of 2008, which was the most financially successful year in the Prancing Horse’s entire history.
It should be underlined that despite the lower number of cars delivered, Ferrari’s market share actually increased by over 10 points to 32.8%, a figure that further underscores Ferrari’s positive performance in the first half of 2009.
Revenues of 891 million were recorded, 8% down on the same period last year, along with trading profit of 124 million euro, compared to the 164 million of the first half of 2008 which, as mentioned, was an exceptional result. This year’s figures were influenced by the lower volumes, the product mix and exchange rate fluctuations, which were partly compensated for by cost efficiencies both in production and Formula 1, and by improved results from brand activities.
In fact, all of the activities relating to the Ferrari brand (licensing and retail) are showing significant growth, with revenues up by 22.7% overall on the first six months of 2008. There are already 29 Ferrari Stores worldwide, and more openings are foreseen in 2010. The new Ferrari website has also proved very successful, doubling the numbers of hits and pages visited as well as online sales. In the first three months since the launch of the new website, more than 20 million pages have been visited with almost 10 million unique visitors.
First half results from the financial services division were excellent too: the trading profit was of 2.5 million euro as against a loss of 0.4 million in 2008.
Ferrari continues to invest in environment and safety. The new trigeneration system (the simultaneous production of mechanical power, heat and cooling from a single source) which involved an investment of 20 million euro, is now up and running. Together with the photovoltaic plant, it has enabled Ferrari to become almost completely autonomous for its energy requirements. Moreover, the small amount of energy purchased from outside suppliers comes entirely from renewable sources. This has led to a decrease of around 25-30% in Co2 emissions from Maranello’s plant and machinery
Lastly, Chairman Luca di Montezemolo stated his satisfaction with the results achieved by the development of the new Ferrari 458 Italia, the most innovative Ferrari ever, featuring unique technological solutions. The car has already received an enthusiastic reception from the international sales network currently in Maranello, where tomorrow evening the new Ferrari 8-cylinder will be the protagonist of an exclusive World Premiere, an event dedicated to a select number of clients and collectors from all over the world in the run-up to its official launch at the Frankfurt Motor Show.