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Ferrari shows off strong results for Q2. Image by Ferrari.

Ferrari shows off strong results for Q2
More cars sold equals higher revenues and net profits for Ferrari in the period April-June 2016
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What's all this about?

Ferrari is having a galloping good time (sorry) of it during quarter two of this year. In what looks like will be a record-breaking 12 months for the Italian supercar firm, its finances appear to be in a strong position.

Can you break the numbers down for me a little?

Certainly. The impressive Q2 results are driven by the simplest of factors: it's selling more cars worldwide now than it was in the same three-month period of 2015. In total, 2,214 Ferraris found homes between April and June of 2016, an increase of 155 units or eight per cent on Q2 2015. V8 models were seeing a boom, sales up 16 per cent as a result of the introduction of the 488 GTB and Spider, but V12 sales slowed 22 per cent as the FF was phased out, the LaFerrari limited series run concluded and the F12 Berlinetta celebrated five years on the market. At least the new F12tdf did its best to offset the V12 decline.

Gotcha, more cars equals more money. So what are we talking here?

Ferrari's net revenues increased 5.9 per cent (45 million, or around 38.2m on current rates) to a total of 811m (687.6m), with growth in revenues of cars and spare parts climbing two per cent to 589m (499.4m). Earnings before interest and taxes were up to 156m (132.3m), with net profits rising 35 per cent to 104m (88.2m) and net industrial debt falling from the March 2016 figure to 763m (646.9m).

Anything else bolstering Ferrari's results?

The company's (relatively) improved performance in Formula 1 saw a 24 per cent rise in engines (71m, or 60.2m) for the quarter, attributable to higher rental revenues from other F1 teams using Ferrari motors. Brand-related and sponsorship activities also increased by 14 per cent as well, to 117m (99.2m).

Matt Robinson - 4 Aug 2016

Ferrari financial results 2016. Image by Ferrari.Ferrari financial results 2016. Image by Ferrari.Ferrari financial results 2016. Image by Ferrari.Ferrari financial results 2016. Image by Ferrari.    - Ferrari road tests
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