“Ferrari is a company whose characteristics have more in common with a luxury goods company than with a car firm, given its limited production, exclusivity, attention to its image and its emotional relationship with its customers. “We can say that we have reached the very top. A cycle is complete, both in terms of a renewed range of road cars and in terms of success in F1. In 2001, Ferrari and Maserati sold a total of 6158 cars. Looking at the accounts, the net position in 2001 is 172 million Euro, compared with 130 in 2000. Total sales for 2001 amounted to 1058 million Euro compared with 893 in 2000. We will talk about the future when the time is right, but looking at the first 5 months of 2002, the predictions are for even better results. In F1, we have won the Constructors’ Championship since 1999 and, for the past two years, we have also won the Drivers’ title,” said Montezemolo. “However, Ferrari went through some difficult years while we restructured. Therefore, we know very well the value of hard work and sacrifice and we know it could all happen again, but we are prepared to meet that possibility, both in material terms and psychologically, with the determination which has always characterised our approach.
“Five years ago, when we started working on the Formula Uomo project, we were not thinking of the Stock Markets, but in any case our plans do not change, even with the acquisition of 34% of Ferrari by Mediobanca. The quotation will simply take a bit longer and it will not happen before the end of this year. I am really happy that Ferrari managed to satisfy Fiat at this particular moment which I am sure will be overcome,” continued Montezemolo. “The acquisition price is in line with the values indicated this week by the three banks with which we have been working recently; Deutsche Bank, Unicredito and Banca Intesa. I would like to thank them for their excellent work, given that it will be the key to the future quotation. “I would also like to welcome our new shareholder, Mediobanca and point out that
Ferrari will always do its utmost for its shareholders. “The financial resources will serve for development,” added Montezemolo. “But Fiat has stated that come what may, it will maintain 51% of Ferrari. This in no way changes our plans which are totally self-financed.”
President Montezemolo ended with two special words of thanks: “To our workforce, which has always worked with, determination, strength and unity and to Avvocato Agnelli, who has always shown us courage and unwavering faith and has shown patience in waiting for our objectives to be reached."
