Call your financial manager, release the funds. The Great Recession is over! Or perhaps not, and it’s just the one percenters who are letting their guard down and starting to spend again. In any case, over the last year Ferrari has posted record financial results in the company’s long 66-year history, breaking the previous mark set in 2008.
The Maranello company sold more cars in total (4.5% increase to 7,318 units) with record numbers in the USA (more than 2,000 cars sold), China (up 4%, now the second largest market), Germany (biggest in Europe) and Great Britain (over 20% more than last year), and all that translates into all-time high revenues.
Results delivered by brand-related activities (Retail, Licensing and e-commerce), were excellent too, showing a 40% increase in operating margin to over 50 million euro. Retail results in particular saw a 5% improvement thanks to a newly introduced interior design concept.
Also music to chairman Luca di Montezemolo’s ears is the announcement that Ferrari is the world’s most powerful brand, according to the annual list compiled by leading brand valuation experts, Brand Finance. Ferrari took the number one spot of the top five most powerful brands in 2013 ahead of the likes of Google, Coca-Cola, PwC and Hermes on a list that includes the 500 most famous companies in the world.