Home Technology Ferrari Drops 13% In 2020 And Harley-Davidson Crashes

Ferrari Drops 13% In 2020 And Harley-Davidson Crashes

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The Italian sports car manufacturer Ferrari obtained a net profit of 609 million euros in 2020, 13% less than the previous year, as confirmed by the company in a statement. The previous year he had earned 699 million euros. The closure of production for seven weeks was the reason that Ferrari sold 1,012 fewer sports cars last year than in the previous year and kept the 9,119 registered vehicles.

However, the company acknowledges that in some sections of the second part of the year it achieved record figures that managed to partially repair the breach caused by the first wave of Covid-19. Ferrari entered 8% less than in 2019, 3,460 million euros and its gross operating profit (Ebitda) was 1,143 million, 10% lower than 1,269 year-on-year, while the net operating profit (EBIT) also ended in negative sign, being 716 million, 22% lower than 2019.

Harley scooping another iconic brand, although of motorcycles and from the other side of the Atlantic, Harley-Davidson, closed 2020 with a net profit of 1.3 million dollars when a year before it had been 423.6 million.

The company announced an annual investment plan of between 190 and 250 million dollars until 2025 to prop up its growth and expand its profitability. A part of its sales strategy will focus on electric motorcycles with its own technology. With it, Harley-Davidson aims to increase its revenues by 5% and achieve a sustained improvement in its margins and earnings per share of around 10%.

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