The Italian manufacturer of luxury cars Ferrari has announced a significant increase in net profit for the entire year on Tuesday. The company reported a growth of 20% in 2021, achieving a record level. According to the financial report, strong demand for new models helped the company achieve success in challenging market conditions.
Among the factors contributing to the improvement of the company's financial performance were increased sales and the implementation of cost-cutting programs. In its statement, Ferrari emphasized that the strategy of diversifying its product portfolio proved to be effective, and the brand's positioning in the market has strengthened.
"We are proud of how our brand has adapted to the challenges of the times, and this is reflected in our positive results," said a Ferrari representative, commenting on the successful financial results.
The company also noted an increase in investments in research and development, which allowed for the implementation of a number of innovative projects, further strengthening Ferrari's market position in the luxury car segment.
