Great Ferrari sold more than 10,000 cars a year for the first time

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Ferrari released its financial results for 2019, and the Prancing Horse was able to deliver 10,131 vehicles during that time, 9.5 percent more than in 2018. It was the first year in the automaker's history to deliver over 10,000 cars. Because of the strong numbers, the company generated net sales of € 3.766 billion ($ 4.156 billion at current exchange rates), an increase of 10.1 percent over the previous year.

With 4,895 deliveries (plus 16 percent compared to 2018), the EMEA region (Europe, Middle East and Africa) was the largest Ferrari region in terms of volume. The company sent 2,900 cars to America (minus 3 percent). Ferrari delivered 836 cars to mainland China, Hong Kong and Taiwan, an increase of 20 percent. Eventually, 1,500 vehicles went to the rest of the Asia-Pacific region – an increase of 13 percent.

Among its models, Ferrari recorded an 11.2 percent increase in sales of vehicles with V8 drive. The demand for the V12 models rose by 4.6 percent.

Ferrari made 2.926 billion euros in sales of cars in 2019. However, the company's second largest income-generating sector was sponsorship and branding, which brought in $ 538 million ($ 594 million). This was an increase of 4 percent over the previous year.

Ferrari was busy in 2019 due to the launch of five new models. There are plans to launch fewer products in 2020. So far, however, we do not know which products are involved. The Purosangue, the brand's upcoming crossover, will be added to the range in 2021 and the company hopes for its success. In addition, there will be a new hyper car after 2022.

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The 2019 performance confirms the strong dynamic of the 2020 forecast, which has updated the previous plan across all metrics.

RELEASE DATE:
04 FEB 2020

Total deliveries of 10,131 units, + 9.5%
Net sales of EUR 3,766 million, + 10.1% or + 8.2% in constant currency (1)
adj. EBITDA (2) of EUR 1,269 million, plus 14.0% with adjusted EBITDA margin of 33.7%
adj. Diluted EPS (2) of EUR 3.71 (+ 9.1% )
Free cash flow from industry (2) of 675 million euros, fueled by advances in Ferrari Monza SP1 and SP2

(1) The constant currency display eliminates the effects of changes in foreign currency (transactions and conversions) and currency hedging transactions
(2) See special note on non-GAAP financial indicators
(3) Net profit The profit for the period as of December 31, 2018 included an income tax benefit of EUR 4 million as the result of the final determination of the tax rate for the financial year

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source: motor1.com

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