FERRARI SHAREHOLDERS’ MEETING: 2010 BALANCE SHEET AND DISTRIBUTION OF 200 MILLION IN DIVIDENDS APPROVED

Published on March 31st, 2011

Somewhere nearby within the vincinity of Ferrari’s famed Maranello test track, those who are closely associated with the famed and World-renowned ‘Prancing Horse’ insignia were in attendance at a very special and exclusive meeting, The Annual Meeting of Ferrari Shareholders, which took place recently under the very able chairmanship of Ferrari’s top man, Luca Cordero di Montezemolo.

The important Meeting approved the 2010 balance sheet which showed expectedly excellent results. As anticipated in recent weeks, Ferrari posted revenues of 1.919 million euro (+7.9%), while trading profit increased from 26.9% to 302.7 million euro. Profitability improved too not surprisingly, with an ROS (Return On Sales) of 15.8%.

The company’s industrial net cash stands at a record 630.8 million euro. These results saw dividend distribution for the financial year 2010 approved to the tune of 200 million euro in total.

The order of business also included the appointment of the Board of Directors. The Meeting confirmed all of the outgoing members for the three-year period 2011-2013.

The board is thus made up of the following: Luca Cordero di Montezemolo, Piero Ferrari, Amedeo Felisa, Khaldoon Khalifa Al Mubarak, Alfredo Altavilla, Alessandro Gianni Baldi, Diego della Valle, Christopher Gent, Sergio Marchionne, Paolo Monferino, Lindsay Owen-Jones, Marco Piccinini and the Man behind the beautiful designs and shapes which partly gives Ferraris their imposing, beautiful stance and visual appeal, who’s name is proudly emblazoned on many of Ferrari’s delectable and much sought after models, Sergio Pininfarina.

The Board of Directors met immediately afterwards and without hesitation or surprise, confirmed Luca di Montezemolo as Chairman, Piero Ferrari as Vice Chairman and Amedeo Felisa as CEO, assigning to them their relevant roles.

words: Azdee Amir  pix: Ferrari


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