Chrysler 2010 Annual Report Download - page 107

REPORT ON
OPERATIONS
OPERATING
PERFORMANCE:
CONTINUING
OPERATIONS
106106
MASERATI
HIGHLIGHTS
(€ million) 2010 2009
Net revenues 586 448
Trading profit/(loss) 24 11
Operating profit/(loss) (*) 24 11
Investments in tangible and intangible assets 104 65
of which capitalized R&D costs 60 31
Total R&D expenditure (**) 62 33
Vehicles delivered (no. of units) 5,675 4,489
No. of employees at year end 696 723
(*) Includes restructuring costs and other unusual income/(expense)
(**) Includes capitalized R&D and R&D charged directly to the income statement
OPERATING PERFORMANCE
Despite continued weak economic conditions, Maserati reported a significant improvement in operating
performance for the year, with deliveries, revenues and profit all up sharply over the previous year.
Revenues increased 30.8% for the year and trading profit more than doubled to €24 million from €11 million
in 2009.
2010 saw the successful introduction of the Maserati GranCabrio, with a total of 1,964 units being delivered
since its launch in March. The GranTurismo also performed well and its status as the marque’s best-selling
model was confirmed with 2,259 units being sold. And 1,452 units of Maserati’s flagship model – the much
celebrated, award winning Quattroporte – were delivered during the year.
In motor sport, Maserati returned to the world of single-make championships with the first edition of the
Maserati Trofeo. This championship, which features the GranTurismo MC Trofeo (the on-track version of the
GranTurismo S), consists of a series of 8 races on major European circuits.
Maserati had another double win in the FIA GT Championship, taking the 2010 Driver and Team titles with the
legendary MC12.
The company delivered 5,675 vehicles to the network, up 26.4% over the 4,489 units delivered in 2009, with
increases recorded in the majority of its 59 markets. In the United States, its number one market, Maserati
achieved a 45% increase over the prior year. Results were also excellent in the United Kingdom (+72%) and
China (+128%), which has become Maserati’s 4th largest market after the USA, Italy and the United Kingdom.
Overall, the market for the Maserati range was up 17% in 2010.
At year end, the order backlog stood at 743 units.