All is well in Maranello. The cars of the Italian manufacturer are snapped up and the company from the province of Modena knows how to reward its employees.
For Beatrice Parrino
© The New York Times-REDUX-REA / Federico Borella/NYT-REDUX-REA
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Lhe city within the city that stretches out before our eyes has inherited a nickname from its regulars: “the factory”. It’s not quite that, or only that. In the heart of the small Italian city of Maranello, located one hour from Bologna, spreads out the powerful Ferrari. 4,571 employees work there. That we spot effortlessly in the streets of the town. The workers and engineers walk around in their red work clothes, more or less like those worn by members of the Scuderia Ferrari, engaged on the Formula 1 circuits. As for the employees, the designers…, they walk flanked by their passes around by the neck. We see them happily going through the turnstiles of the “factory”. Since the first car launched in 1947 by the founder, Enzo Ferrari, nothing, or almost nothing, has been developed outside these walls. A myth.
Who has something to make the employees of the company smile. Who wouldn’t do the same? Their company will pay them a record competitiveness bonus. Are you sitting well? Its amount is 12,614 euros gross for each employee in respect of performance obtained last year. Yes, yes… But Ferrari’s generosity doesn’t stop there. To employees who have not been absent, not even a day, excluding the holiday period of course, the manufacturer will pay a higher check: 13,497 euros gross. Up to 64 hours of absence, the sum is therefore 12,614 euros. Then a small penalty is imposed. By way of comparison, a novice worker at Ferrari, at the bottom of the ladder, earns an average of 22,000 euros gross annually, at the start of his career.
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The Cisl union, which dubbed the agreement, specifies that the days of absence linked to Covid-19 are not counted in any penalties. Of Catholic obedience, the organization also indicates a small difference in treatment between the two large Ferrari families, that of the employees dedicated to the production of cars for individuals, and that working on the F1 circuits. Because the second did not win the title of constructors’ world champion in the premier discipline of motorsport, its members will receive 64 euros less than their colleagues affiliated with so-called technical management.
34.8% profitability
This bonus level is a record for Ferrari employees, even better than that of 2021, already peaking at 11,535.45 euros. It is above all a reflection of the dizzying performances recorded by the manufacturer last year. De Maranello released 13,221 copies, which enabled it to garner most of its turnover of 5.09 billion euros. And above all an enviable net result of 939 million. Or 71,023 euros per car sold! Against 47,000 for a Lamborghini and 15,000 for a Porsche (2021 figures).
Not very sensitive to crises, Ferrari is thus leading the race in the luxury automobile industry, and is approaching very quietly of the target set by Sergio Marchionne when it was listed on the stock market in 2015. The ex-boss of Fiat Chrysler, shareholder of the Prancing Horse brand, claimed that it had to achieve the profitability of the saddler Hermès (around 42 %, compared to 34.8% for Italian).
READ ALSOFerrari accelerates in the electricIn its press release, the Cisl stresses that Ferrari continues to “set records for quantity and quality, and represents the know-how and the made in Italy par excellence. We therefore hope that the company will take this into account for the next competitiveness bonus that we are going to negotiate between now and the end of the year”. There are no small talk. And small fights.
The union of metalworkers Fiom-CGIL, equivalent to the CGT, is the house specialist. This organization regrets that the calculation of the bonus does not take into account all the production, and it therefore did not give the green light… Either. Whatever, Ferrari, one of the most popular brands in the world, should still snatch many smiles.
The Agnelli-Ferrari crew. The Agnelli family, already a shareholder of Stellantis, owns 24.21% of Ferrari, through its holding company Exor. She is linked to Piero Ferrari, son of the founder who owns 10.23% of the shares. It was at the request of Enzo Ferrari that the Piedmontese, at the origin of Fiat, entered the capital of Ferrari, in 1969.