Ferrari’s 2011 revenue soars 17.3% to EUR2.25 billion

Article by Christian Andrei, on February 21, 2012

Ferrari posted a 17.3 percent increase in revenues in 2011 to a record EUR2.25 billion, thanks to the strong demand in the United States and China. The company also posted a 3.2 percent hike in trading profit to EUR312.4 million, and slight increase in net profit increased to EUR209 million in 2011.

The company said in its latest financial results that it recorded 14.1 percent return on sales in 2011, which was one of the highest in the automotive sector. Ferrari also logged a 9.5 increase in new car sales in 2011 to a record 7,195 units.

The sports car maker sales posted an eight-percent growth in sales in the US to 1,958 vehicles. China also proved to be high-growth market, as Ferrari logged a 62.6 percent hike in sales to 777 units. Ferrari also continues to post high growth in other car markets.

The company sold 705 vehicles in Germany for 14.6 percent growth; 574 units in the United Kingdom for 23 percent; and almost 450 cars in the Middle East for 22 percent.

Luca di Montezemolo, the carmaker’s chairman, said Ferrari was able to achieve the results even against a challenging economic backdrop. "They are the fruit of heavy investment and a culture of innovation," Montezemolo said. Ferrari is set to unveil next month at the Geneva auto show a 12-cylinder supercar, which Montezemolo described as "a revolutionary new car that delivers extreme performance and unprecedented power output." Ferrari dubbed the model as F152, pegged as the successor to the 599 GTB Fiorano two-seater coupe.

Topics: ferrari, revenue

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