End of year statement - the STORY

Automobili Lamborghini foresees another record year of results in 2008 and is not abandoning its long-term plans in spite of the bleak economic environment

Automobili Lamborghini S.p.A. will deliver another record year's results in 2008. Official sales figures will be communicated on the occasion of Lamborghini's appearance at the Detroit Motor Show in January 2009.

Even as a low volume luxury car manufacturer, Automobili Lamborghini is not unaffected by the present downturn in economic activities in the wake of the global financial crisis. However, the company is in a favourable strategic position due to its identity as a luxury brand of longstanding tradition. One of its core brand values is exclusivity, which is maintained through tight management of volumes and a strict policy of maintaining a strong forward order bank. This exclusivity is of essential relevance to both dealers and customers and is pivotal for the appeal of the brand.

Lamborghini has the most attractive product line-up in the company's 45 year history. With at least one new product launched every year, and the continued development of the dealer network to maximise market penetration, Automobili Lamborghini has produced a year on year record performance in terms of turnover, profit and volumes for the last four years, together with a rare double digit profit margin. The company's development marks one of the most respected company turn-around programmes in the automotive and luxury industries.

Long before 2009, the company took decisive steps to address potential market volatility. Production flexibility is made possible by cooperative concepts developed with the union representatives. Besides flexible working hours, it provides the opportunity to create training and qualification programmes during work hours. There will be no layoffs, but an extension of the Christmas holiday for eight days has been confirmed.

Lamborghini will not divert from its long-term strategy. Investment into R&D will not be reduced, and there will be ongoing expansion of its brand presence on a world-wide scale, with more new products and further expansion of its dealer network. The company will continue its strategy of announcing at least one new product each year. The latest examples of this are the new Lamborghini Gallardo LP 560-4 Coupe for which deliveries commenced summer 2008, and the Gallardo LP 560-4 Spyder unveiled in November 2008 with market launch in spring 2009. Lamborghini continues its stated objectives of becoming the most profitable supersportscar manufacturer, the most attractive employer and the most attractive brand in its market.

Sant'Agata Bolognese, 22 December 2008

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