Chrysler 2005 Annual Report Download - page 60

59
Report on Operations Ferrari
Operating Performance
In 2005, Ferrari once again demonstrated the extraordinary appeal
of its products, not only in the brand’s traditional markets, but also
in those that it has entered recently. While its cars are intrinsically
exclusive objects, rising customer demand caused Ferrari to
increase annual deliveries to end customers to 5,409 cars, mainly
with the goal of reducing delivery wait time and meeting the
demand from new markets, where the sales trend has been
particularly strong.These achievements were made possible by
the performance of the F430 (both the berlinetta and spider
versions), the 612 Scaglietti and Superamerica, which was
produced in limited edition run.
Shipment to the sales network totalled 5,399 cars in 2005, a gain
of 11% over the 4,866 units delivered in 2004.With 1,580 cars
sold (+9%), the United States was once again Ferrari’s biggest
market, followed by Europe with 2,908 units (+13.7%), including
662 cars sold in Italy (+26%).
Atotal of 5,409 cars were delivered to end customers, an
increase of 8.7% compared with the 4,975 units shipped in 2004.
The positiveperformance achieved in 2005 was made possible
by rising demand in North America (unit sales were up about 8%
compared with 2004), Italy, the United Kingdom and France. New
and developing markets also provided a significant contribution
(Middle East +41%, Eastern Europe +92%, South America +36%),
generating a significant increase in volume without compromising
the exclusivity of the Ferraribrand. In China, a brand-new sales
network shipped 82 cars, double the number sold in 2004.
Innovation and Products
The outstanding results achieved in 2005 were made possible by
the success of the F430 in the berlinetta and spider versions, both
of which feature innovations derived directly from Formula One
racing (such as an electronic differential and controls placed directly
on the steering wheel), and the 612 Scaglietti, a car that combines
top-level performance with an uncompromising commitment to
interior comfort.
The Superamerica also provided a significant contribution to 2005
results.This car was produced in a limited run of 559 units, all of
which were sold in a few months.The Superamerica embodies a
highly original and innovative approach to the challenge of
combining the high performance of a 12-cylinder berlinetta with
the versatility of a convertible. It is the first car in the world to use
abreakthrough roof design that relies on electrochromic crystal
technology applied to large glass surfaces to transform itself from
acoupé to a convertible in just a few seconds. As a result, it offers
the driver both the characteristic qualities of an open car and the
functional advantages of a coupé. Powered by a 540-HP 12-cylinder
engine, the Superamerica is also the fastest convertible in the world.
Ferrari Highlights
(in millions of euros) 2005 2004
Net revenues 1,289 1,175
Trading profit 157 138
Operating result (*) 157 136
Investments in tangible and intangible assets 142 143
-of which capitalised R&D costs 46 37
Total R&D expenses (**) 86 75
Carsdelivered to the network (number) 5,399 4,866
Employees at year-end (number) 2,809 2,670
(*) Including restructuring costs and unusual income (expenses).
(**) Including R&D capitalised and charged to operations.