Ferrari closes another record quarter

BUDGET WITHOUT "STAINS" – Despite another season with few successes in Formula 1, the Ferrari can console themselves by looking at the balance sheet data relating to third quarter of 2019. Between July and September 2019, Cavallino delivered 2,474 cars worldwide, 212 more than in the same period of 2018, while turnover grew to 915 million euros (77 million more) and the profit margin before taxes it reached 227 million euros, 24 million more than in the third quarter of 2018. In the first nine months of 2019, Ferrari delivered 7,755 cars, 902 more than 2018, collecting 2.839 billion (264 million more ) and recording a pre-tax gain of 698 million, up 67 million from the same period last year.

EUROPE MAKES ITS TRAFFICKING – The increase in deliveries is due, both at Ferrari with eight-cylinder engine, up 9.5% compared to the third quarter of 2018, yes to those with twelve cylinders, up 8.9%. The most profitable geographical area continues to be that of Europe, the Middle East and Africa, with 1,143 deliveries (138 more), while the Americas and China remain more or less unchanged: Ferrari has increased from 700 to 702 cars in the Americas and from 162 to 159 in China. However, sales increased from 325 to 400 units in the rest of the Asian region. In the third quarter the proceeds from the sale of cars and spare parts increased by 92 million (from 616 to 708 million). There are 46 million cash receipts from the sale of engines to Maserati: in 2018 this collection had yielded 70 million.

IMPROVED OBJECTIVES – In light of the positive results, the Red Army has decided to correct to the upside the estimates for the end of the year, which should end with revenues of 3.7 billion and a gross profit of 920 million. At the beginning of 2019, revenues were estimated at € 3.5 billion and a gross profit between € 850 million and € 900 million.