Chrysler 2012 Annual Report Download - page 52

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Report on Operations
Luxury and Performance Brands (Ferrari, Maserati)
(€ million) 2012 2011 Change
Ferrari
Net revenues 2,433 2,251 182
Trading profit 350 312 38
EBIT 350 318 32
Maserati
Net revenues 634 588 46
Trading profit 42 40 2
EBIT 42 40 2
LUXURY AND PERFORMANCE BRANDS
Net revenues (*) 2,898 2,699 199
Trading profit 392 352 40
EBIT 392 358 34
(*) Net of eliminations.
Ferrari
In 2012, Ferrari shipped a total of 7,318 street cars, representing a 5% increase over the prior year and an all-time record for the brand. For 8-cylinder
models, there was a 3% year-over-year increase. Shipments of 12-cylinder models were up 11%, driven primarily by the new FF and the new F12 Berlinetta,
which contributed in the fourth quarter.
Ferrari reported 2012 revenues of €2,433 million, increasing 8% over 2011 on the strength of higher volumes, a more favorable product mix and the
contribution from the “personalization” program.
Trading profit and EBIT totaled €350 million for the year (trading margin: 14.4%). The increase in trading profit over 2011 (€312 million) reflected higher
volumes, a more favorable product mix and positive contributions from licensing and financial services.
Maserati
In 2012, Maserati shipped a total of 6,288 cars, a 2% increase over 2011. In the U.S., shipments totaled 2,904 vehicles, representing the best volume
performance in 8 years and confirming the U.S. as the brand’s number one market.
Revenues totaled €634 million for the year, up 8% over 2011 primarily due to higher sales volumes.
Maserati closed the year with trading profit and EBIT of €42 million (trading margin: 6.6%), in line with 2011. The positive impact of higher volumes
and continued improvements in operating costs were offset by significant costs incurred during the year in connection with the production start-up of
new models in 2013.