Photo: original image by autoevolution
In case you happen to go past Ferrari’s factory in Maranello, you should be prepared to take cover - the champagne corks are coming! Ferrari’s financial numbers for the first quarter of 2014 are in and, to put it shortly, the Italians are still making more money while selling fewer cars.
In May 2013 Ferrari announced it would limit its output to 7,000 Prancing Horses per year in order to maintain the exclusivity factor, with the company posting a happy financial report at the end of the fiscal year.
Well, it seems Maranello history repeats itself, with Ferrari ’s Q1 2014 revenue growing by 12.5 percent to EUR 620 million (US$ 849 million) in spite of a 6 percent decrease in the number of units delivered. To be more precise, Ferrari pushed 1,699 vehicles into the world, which is 100 units less than last year.
While trading profit maintained the previous level of EUR 80 million (US$ 109.6 million), net profit jumped 5 percent to more than EUR 57 million (US$ 78 million).
The Italians aren’t too bad with the cash flow either. The carmaker’s Q1 2014 net industrial financial position sits at EUR 1.5 billion (US$ 2.05 billion). The value can be translated into double that of last year, which also means Ferrari set a new personal record.
Ferrari may be willing to limit its deliveries, but it seems that some markets are more equal than others. Let’s take the US, for example, where 494 units were deliveries, an 8 percent growth. The Middle East followed with 150 cars, a six percent increase. Japan may be behind with 128 units, but that’s 57 percent more than in the first quarter of 2013. Staying in Asia, we’ll mention China posted an increase of 4 percent to 73 cars.
The European sales chart is still led by those posh Brits, with the UK jumping 3 percent to 168 Ferraris. As for Ferrari’s domestic market, Italy finally managed to get over the repeated negative results, registering a boost of 13 percent to 63 units. We weren’t kidding about that champagne. Still, Italians shouldn’t get their hopes too high yet, since Ferrari’s home market won’t surpass 3 percent of the overall deliveries.
As any twelve-year old with a Prancing Horse cap knows, we mustn’t forget about Ferrari’s brand-related activities. Direct retails revenue jumped 19 percent, while e-commerce activities saw an increase of 10 percent. Let’s not forget the Italians have reached an agreement that will see a Ferrari Land theme park being built in Spain. Entering Lamborghini’s Spanish fighting bulls territory, we see what you did there Ferrari..
Frankly, Ferrari doesn’t even have to do anything for its brand image - the carmaker was voted the most powerful brand in the world earlier this year, remember?
Oh and let’s not forget that the California T, which should convince quite a lot of customers, hasn’t even reached dealerships yet...
Well, it seems Maranello history repeats itself, with Ferrari ’s Q1 2014 revenue growing by 12.5 percent to EUR 620 million (US$ 849 million) in spite of a 6 percent decrease in the number of units delivered. To be more precise, Ferrari pushed 1,699 vehicles into the world, which is 100 units less than last year.
While trading profit maintained the previous level of EUR 80 million (US$ 109.6 million), net profit jumped 5 percent to more than EUR 57 million (US$ 78 million).
The Italians aren’t too bad with the cash flow either. The carmaker’s Q1 2014 net industrial financial position sits at EUR 1.5 billion (US$ 2.05 billion). The value can be translated into double that of last year, which also means Ferrari set a new personal record.
Ferrari may be willing to limit its deliveries, but it seems that some markets are more equal than others. Let’s take the US, for example, where 494 units were deliveries, an 8 percent growth. The Middle East followed with 150 cars, a six percent increase. Japan may be behind with 128 units, but that’s 57 percent more than in the first quarter of 2013. Staying in Asia, we’ll mention China posted an increase of 4 percent to 73 cars.
The European sales chart is still led by those posh Brits, with the UK jumping 3 percent to 168 Ferraris. As for Ferrari’s domestic market, Italy finally managed to get over the repeated negative results, registering a boost of 13 percent to 63 units. We weren’t kidding about that champagne. Still, Italians shouldn’t get their hopes too high yet, since Ferrari’s home market won’t surpass 3 percent of the overall deliveries.
As any twelve-year old with a Prancing Horse cap knows, we mustn’t forget about Ferrari’s brand-related activities. Direct retails revenue jumped 19 percent, while e-commerce activities saw an increase of 10 percent. Let’s not forget the Italians have reached an agreement that will see a Ferrari Land theme park being built in Spain. Entering Lamborghini’s Spanish fighting bulls territory, we see what you did there Ferrari..
Frankly, Ferrari doesn’t even have to do anything for its brand image - the carmaker was voted the most powerful brand in the world earlier this year, remember?
Oh and let’s not forget that the California T, which should convince quite a lot of customers, hasn’t even reached dealerships yet...
Google News