Ferrari expects strong financial results for 2012
Italian luxury sports car maker Ferrari Thursday said it expected to post higher results for the year after reporting record numbers for the first half, thanks to the popularity of its eight-cylinder models like the California 30 and 458 Spider. For the first half of 2012, Ferrari posted a 13% rise in trading profit to EUR152.2 million and a 10% rise in net profit of EUR100.8 million. Revenue gained 11.9% to hit a record EUR 1.2 billion.
The number of cars delivered to dealers went up 7.4% to 3,664, also a record. Ferrari’s industrial net cash position at the end of June was a record EUR895 million, while its net cash flow was EUR203 million before dividends, according to the statement. Ferrari’s home market, Italy has been underperforming due to the austerity governmental program and increased fiscal controls.