Ferrari financial results

[francisn]

I'm sure it won't be as good next year

The Board of Directors of Ferrari SpA met today under the chairmanship of Luca di Montezemolo, to examine the third quarter results. Ferrari recorded € 450 million in revenues (up 22.3% year-over-year), and a trading profit of € 79 million (17.6% of revenues), up 41.1% from the € 56 million figure (15.2% of revenues) for Q3 2007.

[Adz man]

So what do I get out of it?

[philworrall]

I would have thought that it would be just as good as Ferrari have a backlog of orders. OK perhaps now a reduced backlog but a backlog all the same.

Phil

[Bourn]

If profits are up 41% but sales revenue only up by 22% That can mean one of 2 things.
1. The cost of producing each unit has been reduced (Highly likely as volumes up on previous year).
2. Retail price per unit has been increased.

Or a combination of the two, Perhaps there are higher profit margins to be made on Scuderias, over 430,s as some of those sales will be in the 3rd quarter results.

Would be interesting to see the margins by model, and also the profit margins on options- must be a nice healthy return on Carbon Ceramic Brakes. etc etc.

On the other hand maybe Ferrari SPA break even on cars and make all their profit on stripes for Stradales and Scuderias

[francisn]

Gavin - profits will always be up during the end of a product run, though I imagine they must have been ammortising some of the California costs already in the reporting period. But then accountants can always massage the figures for a particular end