Ferrari sales in Mideast surge 23pc
Maranello, May 18, 2012
The Middle East delivered extremely significant results for Ferrari with sales in the first quarter up by 23 per cent and 81 cars delivered.
Overall, Ferrari recorded a string of excellent results with revenues rising to 556.1 million euro ($706.6 million) and 1,733 cars were delivered to the dealership network, an increase of 11.5 per cent on the same period last year.
These results are the fruit of the success of the 12-cylinder FF and the continuing popularity of the eight-cylinder models, most notably the Ferrari California, which is the company's best-selling GT, and the coupŽ and spider versions of the 458 which top the sports car segment.
Trading profit grew by 13.4 per cent to 60.5m euros, while net profits rose by 17.2 per cent to 42.1m euros.
Ferrari's industrial net cash position on March 31 was the strongest in its history at more than 860m euros.
This was achieved despite keeping product investment extremely high and thanks to a net cash flow for the first quarter of 152m euros.
In terms of sales, the US remains Ferrari's most important market recording growth of 16 per cent even after the excellent figures recorded in 2011.
Sales in Europe were also very positive with excellent results in the UK (up 31 per cent, 177 cars delivered) and in Germany (up 24 per cent).-Reuters
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