November 15, 2016 @ 02:54 PM

Ferrari records profit rise in Q3 2016

Models like the F12tdf, GTC4Lusso and LaFerrari Aperta contributed vastly in the sales increase

It looks like the third quarter of 2016 was a good one for Ferrari N.V. as they recently released their consolidated preliminary results that ended on September 30, 2016. Recording a total shipment of 1978 units in Q3, the figures went up 29 units more than the previous year.


The rise in sales for Ferrari was largely contributed by the line-up of their new V12 models, starting with their limited-run F12tdf, the first batch of the new GTC4Lusso, as well as the newly launched LaFerrari Aperta. Shipments for their V8 models on the other hand were substantially in line with the previous year.


With the introduction of the new models, the net revenues for Q3 2016 also saw an increase of 60 million Euros or 8.3 per cent from Q3 2015, bringing the figure up to 783 million Euros. Since the new V12 models and popular V8 models like the 488 GTB and 488 Spider saw great demand, revenues in cars and spare parts were in line with prior year at 537 million Euros. Higher contribution in personalization helped in the figure as well.


As for sponsorships, commercial and brand, Ferrari is enjoying better days with an increase of 14 per cent due to a better 2015 championship ranking compared to 2014, bringing the figure up to 125 million Euros. Engine revenues also shot up to an astonishing 92 per cent or 97 million Euros due to strong sales to Maserati and higher rental revenues from other Formula 1 teams running Ferrari power plants.


Ferrari now expects to record a total revenue of more than 3 billion Euros for 2016, as well as selling around 8000 units including supercars, and an adjusted EBITDA of about 850 million Euros.


 
Hussein Zain

 

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