Maserati Spyder

Official balance sheet results approved

08/05/2001 - Modena
Official balance sheet results approved
The Board of Shareholders of Ferrari S.p.A. today met and approved the Consolidated results of the Group (Ferrari and Maserati) as of December 31, 2000.

The year 2000 allowed Ferrari S.p.A. to achieve the two goals set at the beginning of the 90s: win back the Formula One Drivers' and Constructors' world titles, and obtain excellent commercial results through products aimed at satisfying the needs and tastes of clients in the new Millennium, creating value despite of the investment made in relaunching the Maserati marque. These investments, in fact, involve the complete renewal and expansion of the production plant, as well as the development of new models and restructuring the worldwide dealership network.

As regards the main economical and financial results, the global sales turnover totalled ý 893.3 million: an increase of 17.9% over 1999's results.

The consolidated operating profit amounted to ý 45.6 million, almost double last year's figure (ý 23.5 million), with a return on turnover up to 5.1% compared to 3.1% in 1999.

Income before tax amounted to ý 18.2 million, a figure over double that of the ý 7.8 million declared in 1999.

ý 78.6 million was ploughed back into the business - ý 17.4 million more than in 1999 - and enabled the Group to self-finance product, customers services and production process development programmes.

The net financial position at the end of the year amounted to ý 130.9 million compared with ý 49 million in the previous year.

Total investments, in both tangible and intangible assets, and research and development funds (the latter funded entirely from the Profit and Loss account) amounted to ý 127.5 million, in line with the previous year.

The first months of 2001 have seen Ferrari set new records, thanks in part to the ongoing success of the 360 Modena, while Maserati has confirmed its positive sales trend in the build up to the launch of the new Spider which is due this autumn. In addition, initiatives aimed specifically at clients are enjoying considerable success, both in terms of profits and customer satisfaction. In particular:

- Options from the personalisation programme - Carrozzeria Scaglietti for Ferrari and Officine Alfieri Maserati for Maserati - are specified on 83% of Ferraris and around 80% of Maseratis sold;
- The insurance and financial services now cover a growing number of markets;
- The involvement of customers in motorsports activities in the worldwide Challenge championships;
- Royalties from sales relating to the Trademark (Ferrari Idea) amounted to ý 19 million.