Ferrari's New Sales Record
The Ferrari F430 was Australia's most|
popular 'Prancing Horse' last year,
with 114 units sold across the country
12th February, 2009
Ferrari set another sales record in 2008.
In 2008 Ferrari delivered results that beat all previous company records. The strong Return on Sales (ROS)
growth seen in recent years continued, reaching 17.6 per cent compared to 15.9 per cent in 2007. This was a
good result in the motor industry and is especially impressive given the tough economic backdrop against
which it was achieved, particularly in the second half of the year.
This important result comes courtesy of Ferrari's diverse range of products and cost-cutting measures.
That said, investments in research and development increased, reaching 18 per cent of revenues in 2008.
Improvements and efficiencies also helped compensate for unfavourable US dollar and UK Pound exchange
In addition to the above-mentioned structural improvements, Ferrari also launched a range of major
commercial initiatives in 2008, including the new One to One Personalisation Programme for its 12-cylinder
models and a new client assistance programme. Ferrari also enjoyed strong growth in brand related activities
(licensing and retail) with a 28 per cent increase overall.
“Ending 2008 with results unprecedented in the entire history of the company is the best endorsement
we could have of our strategy of exclusivity, innovation and focus on people,” said Ferrari Chairman
Luca di Montezemolo. “These results beautifully cap a truly exceptional year that saw us once again at
the top in Formula 1, winning our 16th Constructors' title, our eighth in the last 10 years.”
“The economic climate in 2009 still remains very uncertain as the crisis takes its toll across the
globe and it is hard to say how the situation will develop from here. That means, of course, that Ferrari
will have to lavish even more attention on every single detail and continue to innovate whilst preserving
the exclusivity of our products with respect to market demands.”
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Ferrari ended the 2008 financial year with revenues of 1,921 million euro, an increase of 15.2 per cent
on the 1,668 million euro recorded in 2007. This rise comes mainly as a result of sales of the 430 Scuderia
and the excellent performance of both the 612 Scaglietti and 599 GTB Fiorano 12-cylinder models which
benefited from the launch of the One to One Personalisation Programme. The Ferrari California, however,
made no contribution to the 2008 figures as the first examples are only being delivered to their owners
from this month.
A total of 6,587 cars were delivered to customers in 2008, an increase of 2 per cent with respect to the
6,465 cars handed over in 2007. North America remains the Prancing Horse's largest market with 1,700 cars
(26 per cent of the world total) sold there in line with the 2007 figure, a particularly significant
result given the economic downturn there.
Sales to Eastern Europe continue to grow (+23 per cent) while deliveries to the rest of Europe were in
line with the results achieved last year. Sales to the Middle East and South Africa continue to grow, with
366 cars delivered, an increase of 12 per cent on the previous year's figure.
In the Asia-Pacific region, Ferrari delivered 1,089 cars. Japan remains the primary market in terms of
sales volumes with 433 cars delivered to end clients in 2008, an increase of 15 per cent, while Ferrari
exceeded 200 cars delivered in China for the first time, an increase of 20 per cent on 2007 to 212. Some
163 units were sold in Australia during 2008.
On a further positive note, Ferrari returned a trading profit of 339 million euro in 2008, an increase
of 27 per cent on previous year's figure.
The Prancing Horse's licensing activities also enjoyed strong growth with revenues up by 35 per cent
in 2008 and the figures from the 25 Ferrari Stores worldwide were very positive with overall revenues
increasing by 16 per cent.
During 2008, Ferrari continued its investment into new car development, setting aside the equivalent of
18 per cent of the Company's revenues for R&D. Ferrari also continued with its investments in safety
in the workplace in 2008. It spent in excess of 4 million euro on structural work and specialist training,
achieving major improvements in all areas of the company. Particularly significant in this process was the
new "near-misses" alert system which actively involved company's employees. Defibrillators were also
installed throughout the Ferrari complex.
The year 2008 also saw the launch of an in-house energy production plan. A newly unveiled photovoltaic
plant and a tri-generation plant due to be completed within the next few months, will mean that Ferrari
will meet all of its own internal energy requirements within the next 12 months.
In terms of its workforce, as of 31st December, 2008, Ferrari employed around 3,000 people, a little
under half of whom are office staff.
Continuing its emphasis on people-focused activities, Ferrari also launched its Scuola dei Mestieri in
2008. This new programme is designed to provide training inside the plant which is not normally available
outside Ferrari in specialist skills to allow our employees to enhance both their career prospects and
professional development and improve their mobility within the company.
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