Italian manufacturer increases its earnings by 5 per cent to £1.885bn, despite intentionally restricting the sales of its new cars
18 February 2014

Ferrari has seen its profits rise in 2013, despite a deliberate policy of restricting the number of road cars that it sells.

Last year, the company’s revenues rose by five per cent to £1.885bn, its trading profit to £299.5m and its net profit to £201m for the year. Revenues from ‘brand related activities’ were also up 3.6 per cent to £44.2m. All-important profit margins rose to 15.6 per cent.

These results came despite a 5.4 per cent fall in the number of ‘homologated’ cars that were delivered to dealerships. The total was down 5.4 per cent to 6922 units.

Ferrari states it also investing ‘very heavily’ in research and development for future models, last year spending some £267m, which was ‘almost’ 15 per cent of the company’s revenues. It’s a proportion that is around double of what the typical premium carmaker spends on R&D.

The good news is topped by Ferrari’s declaration that it also has £1.15m cash in the bank, further bolstering the company’s ability to innovate and launch future products.

Further gains are made on the average amount spent by customers on optional extras, says Ferrari. The average spend per model has risen from £14,000 to £24,000.

A total of 2035 Ferraris were sold in the US last year, 677 in the UK, 652 in Germany and some 700 in China, Hong Kong and Taiwan.

Meanwhile, Ferrari has also been judged to be the world’s most powerful brand for the second year running by London-based brand valuation specialists, Brand Finance.

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Comments
7

18 February 2014
So profits went up selling less cars,but, customers spent more on extras..?, guess the recovery is helping there then...?

Peter Cavellini.

18 February 2014
Peter Cavellini wrote:
So profits went up selling less cars,but, customers spent more on extras..?, guess the recovery is helping there then...?
Are you trying to be paradoxical or you really don't understand? Ferrari deliberately limited production last year - they could have indeed sold more cars but LDM preferred to preserve exclusivity and yet raise revenue through optional extras. So he's achieved that objective, and what do you mean 'recovery' - or is it just that time of evening?

19 February 2014
To those who commented,i understand thee article, i was only Fishing to see if i got a bite!,now, i need some Potatoes nxt.....and?

Peter Cavellini.

18 February 2014
Peter Cavellini wrote:
So profits went up selling less cars,but, customers spent more on extras..?, guess the recovery is helping there then...?
I often question how much of a given article or news item you actually understand, Peter.

18 February 2014
Did you mean to say 'has 1.15bn in the bank' instead of million? That wouldn't go far these days!

18 February 2014
This news doesn't surprise me because Ferrari stands for exclusivity, not for numbers.

TS7

19 February 2014
...come from the tawdry tat that large numbers of mugs purchase as long as it's got a ferrari badge on it - normally somewhere near the made in China sticker.

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