Maranello – Ferrari, the famed Italian sports car company known for its prancing horse logo has shown that the world is bullish on its iconic autos. When its Board of Directors, chaired by Luca di Montezemolo, met to review the balance sheet for the financial year that ended December 31, 2007 they saw that the year wrapped up with unprecedented record-breaking results.
All of its main economic indicators were up significantly and the company topped off the year with its seventh Constructors' World title in nine years in Formula 1 and sixth Drivers' title in the last eight years of the World Championship.
Ferrari's revenues (turnover) increased from the 1,447 million euro recorded in 2006 to 1,668 million euro in 2007, a jump of 15,3%, due in part to healthy sales of the F430 and 599 GTB Fiorano.
The company registered a trading profit of 266 million euros which was a 45.4% increase on last year's total and brings the ROS (Return on Sales) up to 16% compared to 12.6% in 2006.
This major increase came despite a fall in the value of the dollar, a currency in which around 30% of its sales were made. The company attributes these results to a combination of increased sales volumes and efficiency measures which were partly offset by increased investment in Research and Development.
Ferrari recorded a positive net financial position of 299 million euros, a significant improvement on the 2006 figure of 213 million euros (+40.4%).
A total of 6,465 road cars (i.e. non-track use cars) were delivered to end buyers, an increase of 14% on 2006.
The company saw positive signals in all of its markets. Like many carmakers, Ferrari recorded growth in the emerging markets. Sales to the Asia-Pacific region rose by 47,2% on last year's figure while the Middle East was up by 32.3%. The trend was positive too, however, in more traditional markets such as the United States (+7,7%), Great Britain (+8,2%) and Germany (+5,9%).
A total of 299 million euros was allocated for Investments and Research and Development (not including Formula 1). This is a 29% increase on 2006 and the equivalent of 18% of the company's revenues. The investments concerned future model development, the building of the new company restaurant as well as the new production lines facility designed by Frenchman Jean Nouvel, an addition that continues Ferrari's tradition of collaborating with top international architects. Both facilities will be officially opened within the next few months.
Summary of the main figures for 2007:
Sales to end clients: 6,465 cars homologated for road use, as compared to 5,671 in 2006 (+14%)
Consolidated turnover: 1,668 million euros with respect to 1,447 in 2006 (+15,3%)
Trading Profit: 266 million euros as compared to 183 in 2006 (+45.4%)
Net financial position: +299 million euros compared to +213 million euros in 2006
Resources allocated for Investment and Research and Product Development: 299 million euros, the equivalent of 18% of turnover (232 million euros in 2006 or 16% of turnover)
Employees: 2,926 on December
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