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Ferrari taking "a big hit" to revenue without Formula 1
Ferrari CEO Louis Camilleri has confirmed that without Formula 1 the company is taking "a big hit" to its finances. Addressing Ferrari's Q1 financial results for 2020 in a conference call with investors, Camilleri reported a 30% drop (39million) in commercial, sponsor and brand revenue compared to the same period a year ago. Article continues under video Racing is currently under lockdown, with the first 10 grands prix either cancelled or postponed, and although hopes are rising for a July start in Austria, the reduced income from F1 will have a major impact. Revenues will be reduced, both from a prize-money perspective if there are 15 to 18 races as planned, and from...
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4y ago from GPFans.com
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