Ferrari logs EUR152.4 million in net profit for first nine months of 2012

Article by Anita Panait, on November 9, 2012

The Ferrari board of directors, under the chairmanship of Luca di Montezemolo, held a meeting on Nov. 7, 2012 to examine the carmaker’s financial results for the first nine months of 2012. As of Sept. 30, 2012, Ferrari posted a 10-percent increase in revenues to EUR1.764 billion and six-percent jump in the number of cars delivered to the dealership network to 5,267 vehicles.

The company posted a 9.6-percent hike in trading profits to EUR232.8 million as well as a 7.6 percent increase in net profits to EUR152.4 million. Ferrari also has EUR959 million in industrial net cash position, despite its continuing commitment to maintain an extremely high level of investment in product development. The carmaker also logged EUR251 million in net cash flow in the first nine months of 2012.

According to a press release by Ferrari, sales of its 12-cylinder model were up 22 percent due to the success of the FF.  The carmaker also commended the success of its 8-cylinder models, particularly the Ferrari California 30 and the 458 Spider. Ferrari took note of the racing GT2 and GT3 versions of the 458 Italia, which recently grabbed titles in their respective categories in the GT Open Championship.

The versions also won this year’s FIA World Endurance Championship, beating rivals built by other leading carmakers.  The US remains as the largest market for the carmaker, accounting for 26 percent of total sales. Ferrari posted a 16-percent growth in the US, delivering 1,354 cars. The carmaker posted a 37-percent hike in sales in the United Kingdom, selling 504 cars.

Results were also good in Germany, where Ferrari logged a nine-percent jump in sales to 534 cars delivered. The carmaker remains strong in Greater China, delivering 566 cars for a seven-percent growth. The company also delivered 214 cars in Japan for a 20-percent jump. In Middle East, Ferrari delivered 274 cars.

Topics: ferrari, profit

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