Ferrari saw operating profits rise 8% in 2013, despite a 5-percent fall in deliveries

Article by Anita Panait, on February 23, 2014

Ferrari posted an 8-percent rise in earnings before interest, tax and one-time items in 2013 to EUR363.5 million, helping cut a chunk of parent Fiat Chrysler Automobile group's losses in Europe in the period. Ferrari logged a 5-percent leap in revenue in 2013 to a record EUR2.3 billion ($3.15 billion), despite a 5-percent fall in deliveries to 6,922 units.

Ferrari cut output in 2013 to maintain the exclusivity of its cars. Brand Finance recently ranked Ferrari higher than other top consumer brands like Google or Coca-Cola. According to the agency, the luxury carmaker logged high scores on a variety of measures, like desirability, loyalty, consumer sentiment, visual identity and online presence.

Brand Finance, however, noted that being the most powerful brand does not make Ferrari the most valuable since it is a niche luxury brand that has imposed a limit on production to protect its uniqueness.

The Ferrari brand is valued at $4 billion, placing it 350th in brand value terms, Brand Finance said. "The prancing horse on a yellow badge is instantly recognizable the world over, even where paved roads have yet to reach," Brand Finance chief executive David Haigh said.

"Ferrari inspires more than just brand loyalty, more of a cultish, even quasi-religious devotion." In response to the ranking, Ferrari Chairman Luca di Montezemolo, said they are proud to be representatives of the 'Made in Italy' label. Ferrari will showcase its latest new model -- the California T -- at the 2014 Geneva Auto Show.

Topics: ferrari, profit

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