2013 marked yet another extraordinary year for Ferrari. After 2012, the company decided to reduce the number of cars sold to maintain a high level of exclusivity and increasing their value over the time, improving results. The concept worked: there were reduced sales in 2013, but record turnover, profits and finances.
While the number of homologated cars delivered to the network dropped to 6,922 cars (-5.4%) in 2013, revenues rose by 5%, eventually reaching an unprecedented 2.3 billion Euro. End-of-year trading profits reached a record 363.5 million euro (+8.3%). Ferrari also delivered net profits in excess of 246 million euro (+5.4%).
The finishing touch to this very positive scenario comes from the significant investments made by Ferrari over the last 12 months, which, including Research and Development, reached an overall figure of 337 million euro (up from 324 million in 2012), almost 15% of revenues. These investments were completely self-financed thanks in great part to the fact that the company’s excellent cash flow has been on the increase for some time now, jumping again in 2013 and resulting in a net financial position of 1.36 billion euro, the best ever in Ferrari’s history.
“This is a very important result that comes as a direct consequence of the huge effort made by everyone. We wanted to maintain a high level of exclusivity, designing amazing products such as the LaFerrari, the 458 Speciale and the just launched California T, the result of significant investment in product and technological innovation.” Said President Luca di Montezemolo.
“We have also taken important strategic decisions relating to Brand which will make an ever increasing contribution to the success of the company. A great source of satisfaction to us all is that we have been named the world’s Most Powerful Brand once again: confirmation we have succeeded in enhancing the value of this incredible brand.”