Profits jump at Ferrari, making 2012 its best year ever
Sales of autos on the increase18 February, 18:26
In fact, with net profit rising by 17.8% over 2011, Ferrari said that 2012 marked "the best year in our 66-year history".
The Bologna-based luxury car maker said it delivered 7,318 cars last year, 4.5% more than in 2011, with turnover up 8% to reach 2.43 billion euros.
Net profit reached 244 million euros and return on sales was 14.4%, "on a par with the best luxury-sector companies", Ferrari said after a board meeting which approved the 2012 accounts.
"It is a matter of great pride for all of us to turn a year with similar results, despite the presence of a context certainly not favourable in many European countries, if not hostile, as in the case of Italy," said Ferrari chairman Luca di Montezemolo.
"The credit goes to women and men of Ferrari, the strength of the brand, with an innovative and comprehensive range, strong investment in technology and controlled expansion in the global automotive market". The 2012 results affirm the company's plan to expand its international distribution and sales from four major centres: America, Europe and the Middle East, Greater China, and the Far East.
As a result, the company reported record sales of more than 2,000 cars in North America, an increase of 14.6%.
In Europe, sales jumped by more than 20% in recession-plagued Britain, by more than 17% in Switzerland, and over 8% in Germany.
The 2012 earnings report came at the same time as brand valuation consultancy Brand Finance announced the the world's most "powerful" or "recognizable" brand is Ferrarì's prancing horse.
According to Brand Finance, Ferrari's brand impact surpassed giants like Google, Coca-Cola, PricewaterhouseCoopers and Hermes, despite the sports car maker's much smaller size.