Ferrari Having a Record-Setting 2012, To Date

2012 Ferrari 458 Italia Spider High Resolution Exterior
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To say Ferrari has had a pretty stout 2012 fiscal year would be a huge understatement. In fact, Ferrari has just announced that it has broken its industrial net cash position record through September 2012. As of the close of September, Ferrari has raked in €959 million ($1.22 billion at the current exchange rates) in industrial net cash position

Industrial net cash position isn’t the only place that Ferrari is excelling in 2012. As of the close of September, it is showing revenue of €1.764 billion ($2.25 billion), which is a stout 10-percent increase to date. Of that revenue, it managed to milk out €152.4 million ($194 million) in profits so far this year, which is a 7.6-percent increase.

There are several factors that have created these huge jumps for Ferrari. First of all, it has delivered 5,267 road-dwelling cars, which is a 6-percent increase as of September. Much of this increase in delivery can be attributed to huge sales increases in the U.S., UK, Germany and Japan. These increases were 16 percent, 37 percent, 9 percent and 20 percent, respectively. The 37 percent jump in the UK is particularly strange, given the economic troubles in the entire area and the small fortune that a gallon of gasoline costs. Then again, when your net sales in the UK are just shy of 500 units, it doesn’t take much to move that needle to 37 percent.

Also seeing growth was China at 7 percent, and the Middle East stayed steady at 274 units delivered.

With all of the turmoil going on in Europe right now, we are rather shocked to see Ferrari doing so well. Then again, the people that Ferrari caters to likely have a little bit of “cushion” money during economic downturns like Europe saw.

We’ll keep an eye out to see how Ferrari finishes up the year.

Click past the jump to read Ferrari’s full press release.


Justin Cupler
Justin Cupler
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Press Release


- * REVENUES OF 1,764 MILIONI EURO (+10 %)
- * 5,267 ROAD CARS DELIVERED (+6%)
- * NET PROFITS 152.4 MILLION EURO (+7.6%)
- * EXCELLENT SALES IN US (+16%), UK (+37%), GERMANY(+9%) AND JAPAN (+20%)

Maranello, 7th November 2012 – The Ferrari board of directors met today under the chairmanship of Luca di Montezemolo to examine the company’s financial results for the first nine months of 2012.

As of September 30th, Ferrari has recorded unprecedented revenues of 1,764 million euro (+10 per cent) and numbers of cars delivered to the dealership network 5,267 (+6 per cent).

Trading profits increased by 9.6 per cent to 232.8 million euro, while net profits grew 7.6 per cent to 152.4 million.

The company’s industrial net cash position reached almost 1 billion euro - an all-time record figure of 959 million euro - despite continuing commitment to maintaining an extremely high level of investment in product development. Ferrari also chalked up a net cash flow of 251 million euro in the first nine months of the year.

The product mix was excellent with 12-cylinder model sales up 22 per cent thanks to the success of the FF and the 8-cylinder models, particularly the Ferrari California 30 and the 458 Spider. The racing GT2 and GT3 versions of the 458 Italia took the titles in their respective categories last weekend in the GT Open Championship after having already won the FIA World Endurance Championship beating competition from the world’s leading manufacturers.

The USA confirmed its position as Ferrari’s largest market internationally with 26 per cent of total sales after delivery of 1,354 cars with a growth of 16 per cent.

The UK market saw record sales of 504 cars, a leap of 37 per cent, while Germany saw continued growth (+9 per cent) with 534 cars delivered, consolidating its position as the largest European market.

In the Far East, the positive trend in Greater China continued (+7 per cent) with 566 cars delivered, while Japan saw deliveries of 214 cars, an increase of 20 per cent. Results from the Middle East were in line with the excellent figures obtained in 2011, with 274 cars delivered.

Sales in Italy, as in the previous two quarters, were down with 238 cars delivered in the first nine months of 2012 (-49 per cent).

“These results confirm Ferrari’s excellent performance in practically all of the 60 nations in which it is present despite the continuing economic climate. Once again the exception is Italy where we have witnessed a drop partly due to the economic crisis, but also to a hostile environment for luxury goods which have long been, and continue to be, an important resource for the country,” said Luca di Montezemolo who then announced the addition of a new Ferrari board member. “I am delighted that Eddy Cue, one of the main driving forces behind Apple’s range of revolutionary products, has now joined our board. His huge experience in the dynamic, innovative world of the Internet will be of great assistance to us.”

Eddy Cue is Apple’s Senior Vice President Internet Software and Services and oversees Apple’s industry-leading content stores including the iTunes Store, the revolutionary App Store and the iBookstore, as well as Siri, Maps, iAd and Apple’s innovative iCloud services. He is a 23-year Apple veteran and played a major role in creating the Apple online store in 1998, the iTunes Music Store in 2003 and the App Store in 2008. He earned a bachelor’s degree in Computer Science and Economics at Duke University.

“I am pleased and proud to become a member of the board. I have personally dreamed of owning a Ferrari since I was 8 years old and have been lucky to be an owner for the past 5 years. I continue to be awed by the world-class design and engineering that only Ferrari can do," said Eddy Cue, commenting on his nomination to the board.

Ferrari’s Brand-related activities (licensing retail and e-commerce) continue to grow. Revenues from the online store are up 32 per cent while those generated by licenses were up 20 per cent, with Puma proving particularly robust. Ferrari also recently signed an agreement with Mondo TV for the production and distribution of The Drakers, an original animated series for young viewers that is inspired by the world of Ferrari.

Visits to were also up by 20 per cent, while Facebook has almost 10 millions fans and views on the Ferrari YouTube channel have exceeded 20 million.

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