Ferrari F12 Berlinetta was named ‘The Supercar of the Year 2012' by car magazine Top Gear. Its naturally aspirated 6.3 liter V12 engine has won the International Engine of the Year Awards 2013 in the Best Performance category and Best Engine above 4.0 liters. Ferrari recorded excellent results in the first six months of 2013, as trading profit jumped by 22 percent (176 million euro), while net profits hit 116.2 million, a boost of 20 percent, and revenues rose to 1,177 million euro (+7.1 percent). However, a total of 3,767 homologated cars were delivered to the dealership network, an increase of 2.8 percent, a slower rate of growth compared to Q1. The company's industrial net cash position, nonetheless, is the best ever recorded: 1,220 million euro with very high investment into our products and a net cash flow, generated in the first half of the year, of 189 million euro. Of the 8-cylinders, the California 30 and the 458 Spider continue to achieve positive results, while in the 12-cylinder sector, sales of the FF remain consistently strong while the F12berlinetta is yielding very good results too. Its engine, in fact, won Ferrari the Best Performance Engine of the Year award for the third consecutive year after the 458's V8 double achievement (it was second this year). The contribution made by our Atelier and Tailor Made personalization programs is still very significant as is that of Ferrari Classiche. The latter's renovated facilities recently hosted the restoration of several extraordinary and highly valuable cars from the world's leading collections. US business continues to grow (+9 percent) with 1,048 homologated cars delivered (this area includes Canada). Despite Ferrari's decision to reduce sales, short-term forecasts suggest that there will be a slight increase over the next few months to avoid lengthening the waiting list to over two years. In Europe, Great Britain has become our leading European market (+6 percent, 415 cars delivered), temporarily outdoing Germany which, with 388 deliveries (+1 percent), matches its 2012 figures. No surprises from Italy where sales continue to fall, with 116 cars delivered, a figure that accounts for just 3 percent of total volumes. Growth was in double figures in the Middle East (+39 percent, 264 cars) and Japan which, with 172 delivers in this first six months (+28 percent), has returned to near pre-crisis levels. There has been something of a slowdown in Greater China (People's Republic of China, Hong Kong and Taiwan) after years of exponential growth. Just under 350 cars were sold – 50 fewer than last year. This drop was mainly due to our decision to decrease deliveries to Hong Kong, a market which had grown strongly in recent times, and fears of a tightening up of taxes on luxury goods. “Once again in the first six months of 2013, Ferrari has recorded excellent results. Two months ago, we took a strategic decision the effects of which will be felt more clearly over the next six months. However, that move is already beginning to make its mark,” said Ferrari Chairman Luca di Montezemolo. “An increase of just over 2 percent in volumes has been matched by 20 percent growth in EBIT which is and will remain our primary objective along with maintaining the exclusivity and value of our cars over time.” Data from Ferrari's brand (licensing, retail, e-commerce) activities remain positive. In the retail segment, the new Ferrari Store concept debuted in our Maranello store in early May and will soon be extended to the entire network worldwide. Aside from improving clients' shopping experience, the innovative design has also boosted business as revenues have risen by 50 percent in just two months. Ferrari continues its rationalization of its licensing activities. In just over a year, it has cut its licensees to 60 but results are still up 9 percent in the first six months of 2013. Good news too from the online front: e-commerce has increased by 21 percent. Social networks have now become our main communications channel with enthusiasts and tifosi (fans/supporters) the world over, and our Facebook page now has over 12 million fans.
Moreover, the number of visitors to the Ferrari Museum in Maranello has increased by over 30 percent compared to the first six months of 2012, attracting 140,000 visitors since the start of the year. — SG
