| Author | Message | ||
| Dr Tommy Cosgrove (Vwalfa4re)
Member Username: Vwalfa4re Post Number: 882 Registered: 5-2001 |
It's not out there for us, David. | ||
| David S (Djs308)
Junior Member Username: Djs308 Post Number: 107 Registered: 9-2002 |
Pardon my ignorance, but what is the stock symbol for Ferrari? What exchange is it on? | ||
| Bill Sawyer (Wsawyer)
Member Username: Wsawyer Post Number: 728 Registered: 2-2002 |
Over 50% of their profit was paid out in bonuses to 2 executives? It sounds like Luca and Jean have learned a thing or two from their counterparts at Enron. | ||
| Dave (Maranelloman)
Member Username: Maranelloman Post Number: 912 Registered: 1-2002 |
Nice raise for Luca, eh??  | ||
| J R K (Kenyon)
Junior Member Username: Kenyon Post Number: 233 Registered: 10-2002 |
Ferrari Announce 2002 Financial Results 21.3.03 Ferrari have announced that the Board of Directors, headed by Luca di Montezemolo, met on 19 March to review the 2002 results of the Ferrari Maserati Group. They revealed that whilst turnover and operating result were up 14% compared with 2001, profit before tax declined from 72.3 million Euros in 2001 to 41.7 million in 2002 largely as a result of an increase in extraordinary expenses of 26.6 million Euros. These extraordinary expenses were due to tax amnesties and additional remuneration paid to Luca di Montezemolo (18.2 million Euros) and Jean Todt (3 million Euros), "in recognition of their contributions to the increased prestige and value of the company" the Ferrari announcement said. In this last financial year, the Maserati brand has faced a number of difficult challenges, among them re-entry into the US market after an absence of some ten years. Maserati's goal is to make this market number one in terms of sales and assistance. With 3,300 cars taken delivery of in 2002, 26% by buyers in the US, Maserati reached an important threshold in establishing itself as one of the major manufacturers of GT cars. The year-end financial position was 50.2 million Euros, compared to 172 million Euros in 2001. In June 2002, Ferrari SpA paid a dividend to shareholders of 120 million Euros, or 10.000 Euros per share. Annual Report 2002 Financial Highlights Sales Volume 7.536 cars (4.236 Ferrari, 3.300 Maserati) compared to 6.158 cars in 2001, +22,3% Turnover 1.208 million Euros (1.058 million Euros in 2001) +14,1% Consolidated operating costs 70.5 million Euros (62 million Euros in 2001) +13,7% Net result 21.6 million Euros (47 million Euros in 2001) -54%* Net financial position 50.2 million Euros (172 million Euros in 2001)** Self-financing 126 million Euros (135.8 million Euros in 2001) -7,2% Investment and Research and Development 283.4 million Euros (225.3 million Euros in 2001), 23.5% of total revenues Employees Ferrari Maserati Group ended the fiscal year with 2.896 employees compared to 2.566 in 2001, +12.8% *Not including the extraordinary salary burden and tax payments **It should be noted that in 2002 dividends worth 120 million Euros were paid out to shareholders |