Ferrari workers in Maranello will be hitting the town’s bars with real intent this week after it was announced they have scored themselves bonuses totalling €4096 (AU$6040).
It’s the largest bonus scheme Ferrari has handed out to its workers and comes thanks to a record 2013 which saw the prancing horse enjoy record profits.
Despite plenty of black in the balance sheets the production schedule is actually in the red, with Ferrari taking a deliberate move to cap total production below 7000 cars annually in a bid to maintain exclusivity of the brand.
So far it seems to be working well.
Record bonus awarded to Ferrari employees
Maranello, 8 April 2014 – Ferrari has announced that its production bonus for employees for 2013 will amount to 4,096 euro, the highest ever awarded in the company’s history.
The production bonus is in recognition of the excellent financial results achieved last year, not least of which were record profits, in addition to other parameters, such as levels of quality.
This means that, on top of the two advances of 1,000 euro each already received, Ferrari employees will find an extra 2,096 euro in their pay packets this month. For a young employee hired recently, this equates to an extra 20 per cent of his or her annual salary.
This bonus, the result of an agreement signed with the unions in 2012, is linked to a grid of operational values with the objective of sharing the company’s success.
Last year, as well as the production bonus, an additional three-yearly bonus was paid out and Chairman Luca di Montezemolo has announced its extension for a further three years.
In 2013 Ferrari adopted a strategy to reduce production to under 7000 cars a year to preserve their exclusivity and value over time, and this strategy will continue this year and into 2015. Last year revenues increased by 5 per cent and trading profits rose by 8.3 per cent. These are unprecedented figures, as is the net financial position which, at the end of 2013, stood at an all-time high.