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.
0 comments:
Post a Comment