Automobili Lamborghini Shatters Previous Records in 2023
Automobili Lamborghini celebrated an exceptional 2023, achieving financial milestones that underscored its continuous expansion.
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The Sant’Agata Bolognese-based firm reached new heights, surpassing the 10,000-car delivery milestone with a precise count of 10,112 units. This achievement was part of a broader success story, with the company realizing a 12.1% revenue increase over the previous year, reaching 2.66 billion euros. Such results not only reflect Lamborghini’s robust market presence but also signify the brand’s enduring appeal and growth trajectory.
Strategic Success and Forward-Looking Innovations
Under the leadership of Stephan Winkelmann, Chairman and CEO, Lamborghini’s strategic direction and innovative vision have yielded remarkable outcomes. The company’s operating results soared to 723 million euros, with an operating margin of 27.2%, evidencing the efficacy of its business strategies.
Looking ahead, Lamborghini is poised for a year of significant innovation in 2024, with plans to introduce the new Urus PHEV and the Huracán follower, alongside its primary participation in the endurance championship with the SC63. These initiatives exemplify Lamborghini’s commitment to continual improvement and milestone achievement.
Sustainability and Financial Growth
Paolo Poma, Managing Director and CFO, highlighted Lamborghini’s exceptional financial and business performance in 2023, positioning it as a leading entity in the luxury sector.
The company’s financial health, underscored by a 27.2% profitability rate, is complemented by a robust order bank, ensuring a bright future and sustainable growth. The absence of the Revuelto’s contribution in 2023, with deliveries set for 2024, and the transition to hybrid powertrains for the Huracán and Urus, illustrate Lamborghini’s strategic foresight and environmental commitment.
As Lamborghini prepares for its 60th anniversary, its achievements in 2023 and anticipation for 2024 affirm its status as a symbol of luxury automotive excellence.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Saudi Arabia ranked first among countries for the non-oil exports of national origin with BD201 million (22%)
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Bahrain’s non-oil exports of national origin decreased by 6% to BD894 million ($2.37 billion) in Q2 2024 compared to the same period in 2023. The top 10 countries accounted for 64% of the total export value.
According to the Information & eGovernment Authority (iGA) in its Q2 2024 Foreign Trade report, Saudi Arabia was the leading destination for these exports, totaling BD201 million (22%). The US followed with BD75 million (8.4%), and the UAE with BD73 million (8.2%).
Unwrought aluminum alloys were the top exported product in Q2 2024, amounting to BD267 million (30%), followed by agglomerated iron ores and concentrates alloyed at BD159 million (18%) and non-alloyed aluminum wire at BD49 million (5%).
Non-oil re-exports
Non-oil re-exports increased by 4% to reach BD206 million during Q2 2024, compared to BD198 million for same quarter in 2023. The top 10 countries accounted for 86% of the re-exported value. The UAE ranked first with BD58 million (28%) followed by Saudi Arabia with BD39 million (19%) and UK with BD17 million (8%).
As per the report, turbo-jets worth BD65 million (32%) were the top product re-exported from Bahrain, followed by private cars with BD11 million (5%) and four-wheel drive with BD9 million (4%).
The value of non-oil imports has decreased by 4% reaching to BD1.41 billion in Q2 2024 in comparison with BD1.47 billion for same quarter in 2023. The top 10 countries for imports recorded 68% of the total value of imports.
China Bahrain’s biggest importer
China ranked first for imports to Bahrain, with a total of BD191 million (14%), followed by Brazil with BD157 million (11%) and Australia with BD112 million (8%).
Non-agglomerated iron ores and concentrates were the top product imported to Bahrain worth BD200 million (14%), followed by other aluminum oxide with BD101 million (7%) and parts for aircraft engines with BD41 million (3%).
As for the trade balance, which represents the difference between exports and imports, the deficit logged was BD310 million in Q2 2024 compared to BD322 million in Q2 2023.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
