Chrysler 2009 Annual Report Download - page 96

FERRARI
HIGHLIGHTS
(E million) 2009 2008
Net revenues 1,778 1,921
Trading profit/(loss) 238 339
Operating profit/(loss) (*) 245 341
Investments in tangible and intangible assets 290 311
of which capitalised R&D costs 119 117
Total R&D expenditure (**) 156 164
Type-approved vehicles delivered to the network (no. of units) 6,193 6,452
No. of employees at year end 2,835 3,017
(*) Including restructuring costs and other unusual income/(expense).
(**) Includes capitalised R&D and R&D charged directly to the income statement.
OPERATING PERFORMANCE
Due to the success of its models, Ferrari largely contained the effects of the economic crisis that also impacted
its core markets. The decline in revenues was limited to 7.4% over the 2008 level, which benefited from
particularly strong sales, and the Sector achieved a trading margin of 13.4%.
In 2009, Ferrari continued renewal of its product range. Following launch of the Ferrari California in late 2008
– with deliveries beginning early 2009 – the new rear-centre mounted V8 458 Italia coupé was unveiled at the
Frankfurt Motor Show.
This car represents a generational leap forward for its class and replaces the F430, of which the very last model
produced was auctioned to raise money for victims of the earthquake in Abruzzo.
The 458 Italia immediately grabbed the attention of the media, both specialist and general, as a truly innovative
vehicle which sets a new benchmark for the entire sector. One of the first acknowledgements received was the
prestigious Top Gear Award for best car in its class as well as best overall for 2009.
For the launch of the 458 Italia, Ferrari once again used the internet as the primary platform for communicating
with customers and enthusiasts around the world. A Japanese version of the website is also available as of
January 2010, enabling closer contact with a market that has historically been one of Ferrari’s most important.
The company continued expansion of the Ferrari Store network opening new sales outlets internationally, most
notably on Regent Street in central London and in Dubai, the largest in the world.
A total of 6,250 type-approved cars were sold to end customers, a 5.1% decrease over 2008 (including
non-type-approved vehicles, the total was 6,293 units; -5.5% vs. 2008).
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