Geneva's symbolic importance for Ferrari: 

- It marks the start of the year for both production and the markets
- It marks the start of the racing calendar
- Geneva is also hugely symbolic to us because, as is clear from the images selected to celebrate our 60th anniversary, it has provided the venue for the unveiling of so many of Ferrari's most successful models, from the GTO to the 599 GTB Fiorano just last year.

2006 was a very positive year for Ferrari as the following four statistics demonstrate:

- Revenues increased by 12%
- Profits rose by 17%
- Returns on sales of 12.6% which is approaching that of the luxury brands
- An extremely positive net financial position combined with a 16% investment in R&D above and beyond that made in Formula 1 which is our real, cutting-edge advanced research development ground.


At the end of 2006, Ferrari also won the Great Place to Work award, proof-positive of the priority placed by the Company on ensuring quality work from its employees through providing a quality working environment.

It gives me great pleasure to look at these figures here at Geneva and then to cast my mind back a decade to when the work I had begun on my return to Ferrari just a few short years previously first started to bear fruit. At that time:

- our revenues were a third of what they are
- our operating result, although positive, was still very far short of today's
- we had yet to win a Formula 1 World title

All of this in a world that has changed enormously over the last 10 to 15 years (when LDM returns - ed.'s note):

We had virtually no competitors at that time whereas today, just as is the case in Formula 1, there are more constructors than ever vying at the very top end of the luxury car market.

The number of markets on which we have a presence has grown too from the 30 of those days to over 50. Most notably, however, demand is rising sharply in:

- the Middle East,
- Eastern Europe,
- and China in addition to Japan, Australia and the United States, which is a more established market.

The way in which owners use their Ferraris has also changed radically with the average annual mileage more than doubling and a clearer picture of how the cars are driven emerging.

The following facts are now clear as a result:

- Our clients want technologically cutting-edge, exclusive Ferraris, cars that are the stuff of dreams. And we were perfectly positioned to meet those demands

- Our clients also want their Ferraris to be absolutely unique. In fact, 100% of the cars we sell now include Personalisation features as attested to by the burgeoning waiting list - something we're glad to see but which is probably not so warmly welcomed by eager new owners.

We are actually unveiling a sophisticated Car Configurator here in Geneva today. The Configurator will be available at all our dealerships worldwide and will allow owners to view in incredible detail exactly what the car of their dreams will look like.

Ferrari clients are also increasingly dividing up into two distinct profiles:

Owners looking for super high performance, exceptionally sporty cars which they will frequently use on the track, often at special days organised by Ferrari itself. These clients will find their perfect cars on the left hand side of the stand where the F430 and the 599 GTB Fiorano are arranged around the F1 car.

The second group of clients, although still wishing to experience the uniqueness of a Ferrari, opts for what might be described as our more "road-going" models. These are the Grand Tourers inspired by the spirit of the great cars of the 1960s. We'll find those particular clients on the right hand side of the stand, inspecting the interiors of the two 612 Scagliettis just in front of us. These two cars demonstrate to perfection that there are Ferraris with very roomy, comfortable cabins capable of seating up to four adults.

In fact, an exceptionally soft, buttery leather trim, prestige details and the easy-to-use, highly efficient Bose radio navigation system make the Scaglietti one of the great symbols of the desirable sports car as at ease with long, tough journeys as everyday driving.

In order to meet the many requests of this kind from our clients, Ferrari is now also launching a range of 10 special colours from past catalogues featured on the great collectors' models of the 1960s. These colours are aimed mostly at the 612 Scaglietti and we've reproduced them on genuine doors from the model to give a clearer impression of their effect too.

Two souls but just one marque, a marque with very clear, specific goals, unfettered by any masochistic plans to build small cars or any other kind that would mark a departure from what Ferraris have always been.

In this the marque's 60th anniversary year I would like to pay a fond tribute at this point to Enzo Ferrari and say that, just like him, I always feel that the best Ferrari is the next one.

 I asked our General Manager Amedeo Felisa and also Mr Darius Aharabian to be with me here today.
Jean Todt is at home "holding the fort" in Maranello as CEO. Most importantly of all, however, he is focusing on the challenging new Formula 1 season ahead as I've told him that I only want one, or more correctly two, things from him this year: the Drivers' title and the Constructors' title.

Amedeo Felisa is here with us today because a large part of our success has been due to his talent for designing and developing enormously sought-after models. Now in his role as General Manager, his task is also to guarantee their success worldwide.

Darius Ahrabian, for his part, is taking on a new but highly important role in Ferrari. He is, in fact, the head of Ferrari Financial Services, a new company founded because our clients have been asking us for quite some time now for a range of original and sophisticated financial packages focused not so much on procuring financing itself but more on ensuring that each client's money is put to the most efficient use.

Ferrari Financial Services also offers something that no other company can as it even finances competition and historic collectors' cars as well as genuine Formula 1 single-seaters.