Ferrari announces its final end of year results and sales and profits are all up, and looking good for the coming year.

• Total shipments reached 2,214 units, up 8% (+155 units)
• Net revenues grew 5.9% (+6.2% at constant currencies) to Euro 811 million
• Adjusted EBIT⁽¹⁾ of Euro 156 million, 310 bps margin increase
• Adjusted net profit⁽¹⁾ up 35% to Euro 104 million
• Net industrial debt^([1]) at Euro 763 million, better than March 2016

Adjusted EBIT(1)	Net profit
Volume increase of approx. 230 cars (excluding LaFerrari) thanks to the newly launched 488 GTB, 488 Spider, F12tdf and positive contribution from personalization	Net profit for Q2 was Euro 97 million up Euro 21 million (+29%) due to the combined effect of strong EBIT and lower tax rate vs. previous year partially offset by charges for Takata airbag inflator recalls
Negative mix impacted by LaFerrari, that finished its limited series run, and V8, slightly higher compared to the previous year, partially offset by the non-registered car FXX K and limited edition F60 America
Net industrial debt(1)	Confirming 2016 Outlook([2])
Net industrial debt(1) reduced to Euro 763 million, primarily due to strong industrial free cash flow(1)generation partially offset by cash distribution to holders of common shares and dividends paid to NCI	The Group guidance is confirmed as follows: Shipments: ~8,000 units including supercars Net revenues: > Euro 3 billion Adjusted EBITDA: ≥ Euro 800 million Net industrial debt([3]): ≤ Euro 730 million

Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results^([4]) for the second quarter and six months ended June 30, 2016.

Shipments

Shipments totaled 2,214 units in Q2 2016, up 8% from the previous year. 

This performance was driven by a 16% increase in sales of our 8 cylinder models (V8), led by the success of the two newly launched models: the 488 GTB and the 488 Spider. Shipments of the 12 cylinder models (V12) were down 22% due to the phase-out of the FF, the F12berlinetta now in its 5^th year of commercialization and LaFerrari that finished its limited series run. This was partially offset by the introduction of the new F12tdf.

The EMEA^([5]) and Greater China⁽⁵⁾ regions experienced a sound year-on-year growth with shipments increasing respectively by +14% and +26%, Americas⁽⁵⁾ recorded a slight  improvement whereas Rest of APAC⁽⁵⁾ remained in line with the previous year due to 488 Spider and F12tdf having just arrived on the market.

Total net revenues

Net revenues for Q2 2016 were Euro 811 million, an increase of Euro 45 million or 5.9% (+6.2% at constant currencies) from Q2 2015. Higher net revenues in Cars and spare parts⁽⁶⁾ (Euro 589 million, +2%) were due to increased volumes led by new models 488 GTB, 488 Spider,F12tdf, the non-registered car FXX K and the final deliveries of the F60 America, a strictly limited edition car, along with a higher contribution from personalization, which was partially offset by lower sales of LaFerrari. The rebound in Engines⁽⁷⁾ (Euro 71 million, +24%), was mainly attributable to higher rental revenues from other Formula 1 Teams. Sponsorship, commercial and brand⁽⁸⁾(Euro 117 million, +14%) was up mostly due to better championship ranking, higher sponsorship revenues and positive contribution from brand related activities.

Adjusted EBITDA⁽¹⁾ and Adjusted EBIT⁽¹⁾

Adjusted EBIT⁽¹⁾ was Euro 156 million, up Euro 32 million (+26%) from Q2 2015 as a result of higher volumes, thanks to the newly launched 488 GTB, 488 Spider and the F12tdf as well as a positive margin contribution from our personalization programs. Mix was negatively impacted (Euro 25 million) by higher V8 versus V12 range models with LaFerrari that finished its limited series run, partially offset by the non-registered car FXX K and the final deliveries of the F60 America, a strictly limited edition car (only ten units) manufactured to commemorate the 60^th Anniversary of Ferrari in North America. Research and development costs and industrial costs showed a decrease of Euro 11 million mainly due to lower D&A for the 458 family and LaFerrari phase-out coupled with efficiencies on production costs partially offset by F1 costs. The Selling, general and administrative costs^([10])were substantially in line with the previous year as the combined result of new store openings, new model launches and corporate costs offset by bad debt in Q2 2015. Other recorded a positive contribution of Euro 14 million thanks to Sponsorship, commercial and brand as well as other supporting activities.

Adjusted EBIT⁽¹⁾ excludes charges of Euro 10 million due to the worldwide Takata airbag inflator recalls^([11]).

Tax rate dropped to 30.7% in Q2 2016 vs. 33.5% in Q2 2015 as a result of the Italian Government’s decision to reduce the nominal tax rate from 27.5% to 24% by 2017.

As a result of the items described above, adjusted net profit⁽¹⁾ for Q2 2016 was Euro 104 million, up Euro 26 million (+35%).

Industrial free cash flow⁽¹⁾ for the three months ended June 30, 2016 was Euro 145 million, primarily driven by a strong increase in cash flow from operating activities, including a positive change of working capital and timing effect of advances on the new open-top LaFerrari, partially offset by capex and the first 2016 tax advance. Q2 2015 industrial free cash flow⁽¹⁾ included a Euro 116 million one-time cash in-flow related to the final reimbursement by Maserati of its inventory in China.

Net industrial debt⁽¹⁾ at June 30, 2016 was Euro 763 million, better than from Euro 782 million at March 31, 2016, thanks to industrial free cash flow⁽¹⁾ generation offset by cash distribution for Euro 87 million paid to the holders of common shares and Euro 13 million dividends paid to NCI.

The open-top LaFerrari: the new special limited-edition series

On July 5^th, 2016 Ferrari unveiled the first images of the open-top LaFerrari, the new limited-edition special series. The new model, already pre-sold, will be presented during the Paris International Motor Show in October 2016. The open-top LaFerrari will be provided with a removable carbon-fiber hard top and a removable soft top aimed at customers and collectors who refuse to compromise on the joy of plein air driving even when at the wheel of a supercar.

Subsequent Events

On July 7^th, 2016 Ferrari with Luxottica Group announced the signing of a sponsorship agreement for the Ray-Ban brand to appear on the SF16-H Formula One cars.

Suzuki launches an all new, updated, and fresh clothing collection for 2016.

Suzuki has launched its new clothing range for 2016, which sees a number of new lines added, including new additions to its in-vogue heritage collection.

Styling cues taken from mainstream fashion set the Suzuki collection apart from traditional branded apparel and the popular heritage range has been expanded with new t-shirts and a retro jacket.

The Urban Classics collection is new for 2016 and includes t-shirts, shirts, hoodies and hats with an urban-led design and subtle Suzuki branding.

‘Anybody can wear anything’ was a key concept throughout the development process which will broaden the appeal of Suzuki clothing beyond the more traditional Suzuki fan base.

The clothing range was designed by a European team of designers and takes inspiration from Suzuki’s rich Japanese roots and heritage combining this with a European take on fashion.

Suzuki GB’s Merchandise Co-ordinator, Faye Ball, said, “We’re really excited about this year’s collection and the new lines that we’ve added. We’ve bolstered our heritage line-up, which has proven to be a really popular collection every year, but all of our additional items across the whole range mean we can offer customers even more choice and variety, whether they’re after a casual jacket or a smarter shirt.”

New range of Heritage Jaguar merchandise launched at Paris

IN BRIEF 

• Collection designed by Jaguar’s Design team and inspired by the winning No.3 D-Type at Le Mans in 1957
• Celebrates 60 years of the iconic Jaguar D-Type
• Signature items include Jaguar Heritage leather jacket and leather race holdall made from world-renowned Pittards leather
• Wide range of goods featuring iconic D-Type prints
• Commercially available to buy through Jaguar’s global dealer network and online at www.jaguar.com from November 2014. 

Today at Paris Motor Show, Jaguar launched the Heritage ’57 Collection, a range of branded goods celebrating 60 years of the iconic Jaguar D-Type.

Jaguar’s Design team have created the range to commemorate Jaguar’s most successful period at Le Mans, using the winning No. 3 ‘Ecurie Ecosse’ team car from 1957 as inspiration.

Ian Callum, Director of Design at Jaguar, said: “Occasionally it’s great fun to celebrate the past, especially something as momentous as a winning Ecurie Ecosse D-Type. The collection is distinguished by the blue flag and draws on signature cues from the winning No.3 car.”

Key pieces from the collection are detailed below, for further information please visit www.jaguar.co.uk/shop 

Heritage ‘57 Men’s Brown Leather Jacket 

This classic leather jacket is made in the UK by Pittards, a world renowned leather goods manufacturer. The jacket features an embossed Heritage lozenge on the chest and the winning No. 3 motif on the sleeve. The jacket is complemented with a vintage classic print on the lining, depicting the D-Type in action at Le Mans. 

Heritage ‘57 Racing Holdall

Like our jacket, this item has also been crafted by the Somerset-based, world-renowned leather manufacturer, Pittards. This Heritage leather race bag takes inspiration from the bold white No. 3 roundel from the vehicle itself and features buckle detail based on the D-Type’s bonnet straps.

Heritage ‘57 Jaguar D-Type Collector’s Model

A hand-crafted and assembled 1:8th scale model of the winning No. 3 ‘Ecurie Ecosse’ D-Type. This detailed model takes 300 hours of craftsmanship to produce and matches exactly every element of the D-Type from exterior, interior and engine bay.

Heritage ‘57 T-Shirt 24 Heures

A high quality t-shirt, printed with a vintage graphic of the D-Type and the Jaguar Heritage lozenge on the sleeve. 

Heritage ‘57 Paddock Shirt

The Heritage ‘57 paddock shirt offers a contemporary interpretation of Jaguar’s racing history.

A further range of Heritage ’57 canvas branded goods are available including a holdall, wash bag, iPad case and leather wallet each featuring iconic imagery printed onto the outer material of each piece. Smaller items such as keyrings, cufflinks and a racing Children’s Bear are also available.

Further additions to the Jaguar branded goods range have been launched today in Paris. For more information please visit www.jaguar.co.uk/shop 

A real British Auto legend returns, we welcome back BRISTOL CARS

• First new Bristol car in more than a decade announced today
• 70^th anniversary Project Pinnacle car set for launch in 2015
• Exclusive new Bristol merchandise range launched
• Several million pounds of investment in landmark Kensington High Street showroom and new Parts, Service and Restoration centre in West London
• Future Range-Extended Electric vehicle plans confirmed

Iconic British carmaker, Bristol Cars, announces significant new investments today at the Concours of Elegance held at Hampton Court Palace, London.

The first new Bristol car since 2003 will be launched at the Kensington High Street showroom in 2015 in the shape of an all-new 70^th anniversary model, codenamed Project Pinnacle.  An anniversary celebration, Project Pinnacle is a reference to Bristol Cars’ rich and exciting heritage, executed as a modern take on the best of British craftsmanship and engineered to excite as a high performance Bristol car.

Since the company was bought in 2011, millions of pounds have been invested in the business to re-establish its place as an iconic British carmaker for the connoisseur motorist, with craftsmanship, design, performance and unique character at its heart.  A specialist new Parts, Service and Restoration facility in Brentford, West London was opened this year and has quickly established itself as the leading Bristol centre in the world with hundreds of cherished examples of the marque already passing through the workshop.

Plans are also underway to refurbish the landmark Bristol showroom at 368 Kensington High Street with further investment made across the street at number 375 for an additional showroom.  From summer 2015, Bristol Cars will occupy both sides of Kensington High Street with a selection of meticulously restored cars for sale on the north side and new vehicles and a modern company ethos displayed on the other side of the street.

The company also confirms today that development work is underway on an all-new flagship Bristol Range-Extended Electric grand tourer.  Frazer-Nash Research’s technology will underpin the Range-Extended Electric powertrain of this new design from Bristol Cars.  More information will be released on this product as development progresses.

A new Bristol Luxury merchandise range including clothing, model cars, bureau items, accessories by Paul Smith and much more was also launched at the Hampton Court Concours of Elegance.   

Speaking on behalf of Bristol Cars at the Concours of Elegance, Sir George White said: “2015 will mark Bristol Cars’ 70^th year, and these announcements underline today’s very exciting times at the company. Project Pinnacle signifies the re-birth of the brand with a design and character respectful of the company’s rich heritage in Great Britain – in aviation, commercial and luxury automotive – delivered with a modern approach to performance and comfort.  This car, along with the investments in Kensington and Brentford, not to mention the advanced development of an all-new super-luxury grand tourer, all make for a very bright and promising future for this company that I hold so dear.” 

Bristol Cars’ General Manager, Julian Ramshaw, added: “Today’s announcements signify that we are nearing the completion of ‘Bristol is Reborn’ – phase 1.  Investments in our new products and facilities spearhead our modern philosophy for the Bristol marque.  We believe that the automotive landscape is changing, particularly in the premium and luxury sector.  The definitions of luxury are changing.  People’s expectations are changing.  And Bristol Cars is changing too. This is just the start, and there is a lot more to come from us.”

The 2014 Concours of Elegance at Hampton Court Palace is the third such automotive gathering in London, which, since the first event in 2012, has set a new global benchmark for classic car concours events; winning a number of prestigious awards and accolades.  It is unique in the fact that the setting changes from year to year but with the consistent theme of always being held on the lawns of a Royal palace. Only the highest calibre of cars are invited to the Concours of Elegance, with the rarest cars in the world, from all over the world, painstakingly selected by the Concours’ team of respected and authoritative experts.

McLaren to launch new range of merchandise at the Goodwood Festival of Speed 2014

McLaren Automotive will launch a new line of merchandising to suit all ages and pockets at this year’s Goodwood Festival of Speed. Clothes, collectables and accessories are inspired by the design and craftsmanship of the recently-launched McLaren 650S and the groundbreaking McLaren P1™. The collection will be available to purchase during the Festival at the McLaren Boutique, at the McLaren House.

McLaren P1^™ models 

Opening the collection is a pair of McLaren P1™ models inspired by two milestones from the brand’s recent history. The first model commemorates the 2013 Goodwood Festival of Speed and the Amethyst Black McLaren P1™ that thrilled the crowd in one of the most dramatic runs in the event’s 20-year history. The car was taken up the Hill by 2009 Formula 1™ World Champion and McLaren Mercedes Formula 1™ driver Jenson Button, providing the crowd with the first insight into its incredible dynamic potential.

Another model pays homage to the Supernova Silver example of the McLaren P1™ that completed a sub-seven minute lap on the fearsome Nürburgring-Nordschleife circuit. This final development objective required an average speed of at least 178 km/h (111 mph) around the 20.8 kilometre (13 mile) track, which includes over 150 corners, 300 metres of elevation changes and cornering forces of up to 2g. The car, codenamed XP2R, was driven by McLaren Chief Test Driver Chris Goodwin.

These beautifully crafted 1:43 replicas have been precisely reproduced using real CAD data supplied by McLaren designers. Each model is presented on a support base and pays tribute to a significant chapter in the exhilarating development journey of the groundbreaking original.  

Clothes and accessories

There is something for everyone in the new McLaren collection, with a new range of stylish and comfortable summer fashions. A replica Team t-shirt and jacket finished with contrasting ‘Cool Grey’ and orange detailing, as worn by the McLaren Automotive development and technical team is showcased for the first time, along with a black McLaren embroidered cap. Enthusiasts can show their love for the brand wearing a navy blue t-shirt with a technical drawing of the McLaren 650S Coupé. Also launched is a unique McLaren P1™-inspired lightweight t-shirt, which includes the signature taillights and blue exhaust flame detailing on the reverse.

The next generation of McLaren drivers and fans can also enjoy the latest McLaren fashion with a kids electric blue t-shirt featuring the current model line-up. Complementing the collection are three McLaren lapel pins, and a stylish key ring which is produced from the same lightweight leather used for the racing-focused bucket seats in the McLaren P1™.

The full McLaren merchandise line is available to view and purchase from the McLaren Boutique, on the McLaren House stand at Goodwood Festival of Speed.