Ferrari Posts Best Financial Results Ever in 2012Tuesday, February 19, 2013 12:59 by Arman Barari
According to Ferrari’s accountants, 2012 was the best financial year ever in the 66-year history of the brand. Despite the world’s badly damaged economy which should have affected sales of expensive cars, Ferrari has exceeded all the previous records set in 2008, posting total revenue of 2.433 billion Euro.
In 2012 Ferrari delivered 7,318 road cars, increased its trading profit by 12.1 per cent to 350 million euro and its net profits to 244 million euro (+17.8 per cent), and recorded ROS (Return on Sales) of 14.4 per cent.
Thanks to the company’s consistent cash flow generation, they also managed to significant investments over the last 12 months which, including Research and Development, amounted to 324.3 million euro – more than 44 million more than 2011.
Ferrari’s sales in all four major markets of America, Europe and the Middle East, Greater China, Far East were increased last year over the same period in 2011. U.S. deliveries passed the 2000-car mark for the first time, while Germany and UK – best markets for Ferrari in Europe – both recorded remarkable increase. In Italy, however, things are the exact opposite, as Ferrari faced a 60 percent drop in sales in 2012. Demand for Ferrari cars in China and the Far East continue to grow annually.
“We are all enormously proud of ending the year with these kinds of results despite the unfavourable economic backdrop in many European nations, and the distinctly hostile one in Italy,” declared Chairman Luca di Montezemolo. “The credit for this goes to the men and women in Ferrari, the strength of the brand, a very complete and highly innovative range, and our gradual expansion into automotive markets worldwide.”