Spyker Trading Update fourth quarter 2006
SPYKER TRADING UPDATE FOURTH QUARTER 2006
Zeewolde, the Netherlands, January 26, 2007 – Spyker Cars N.V. (“Spyker”), manufacturer of high-quality sports cars, today announced the trading update for the fourth quarter of 2006. Spyker Cars is
listed on Eurolist by Euronext Amsterdam. (Tickersymbol SPYKR)
• Spyker expects to end 2006 with a profit, where until the third quarter update merely an operationally positive cash flow was envisaged.
• The Spyker F1 Team participated in the races in China, Japan and Brazil which are part of the 2006 FIA F1 World Championship. The result was a 10th place in the manufacturers competition.
• Mike Gascoyne was appointed Chief Technical Officer by Spyker F1 Team as of November 1, 2006.
• On December 21, Spyker F1 Team signed a long term contract with Adrian Sutil, 23, from Munich, Germany. Adrian will be the 2nd driver in the Spyker F1 Team, and will partner Christijan Albers in the 2007 FIA F1 World Championship.
• In Q4 Spyker F1 Team reached sponsorship agreements for the 2007 season with:
o McGregor Fashion Group. The agreement consists of a sponsoring agreement as well as a licensing agreement. McGregor will launch a fashion line to be named "Spyker F1 by McGregor" which will be available in retail Spring 2007.
o Trust International
o Quick. This is a sponsoring and licensing agreement for shoes.
o Exact Holding
o Dremel Europe
o Rofil Medical Nederland
• Spyker Squadron participated in the last GT2 race of the season in Dubai. After having gained points in the 24 Hours of Spa, Spyker claimed a third place in the FIA GT manufacturers standings, sharing the podium with Ferrari and Porsche.
• Spyker Cars nearly doubled its production output in comparison with 2005. The production capacity 2006 reached 94 cars (48 in 2005), an increase of 96%, just shy of the predicted number of 100 cars.
• Total order backlog as per December 31, 2006 rose to 327 cars, of which 145 cars for the C-line and 182 for the SSUV. The total order backlog for the C-line remains stable (161 orders per December 31, 2005), while the number of SSUVs ordered shows a considerable increase (30 orders on December 31, 2005).
• In Q4 of 2006, Spyker Cars established a staff increase of 43 resulting in 177 employees working at the factory in Zeewolde (The Netherlands). The Spyker F1 staff in Silverstone, UK, increased to 240 employees (was 207 per 30 September, 2006), bringing Spyker’s aggregate workforce at 417.
• In Q4 new dealers were appointed in Kiev (Ukraine), Atlanta (Georgia, USA), Scottsdale (Arizona, USA) and Prague (Chech Republic). Dealer showrooms have been opened in Abu Dhabi and Dubai (UAE).
• Spyker Cars participated in the Top Marques Show (Shanghai, October), the MPH Show (London, UK, November), the China Motor show (November), L.A. Motor show (Los Angeles, USA, December), Millionaire Fair (The Netherlands, December), Abu Dhabi Motor show (December) and Bologna Motor show (December).
• The annual results over 2006 will be announced on March 30, 2007. The Annual Shareholders Meeting will take place on April 19, 2007 in Zeewolde. The Q1, 2007 trade update will be published on April 27, 2007.
Victor Muller, CEO Spyker Cars N.V. says:” The last quarter of 2006 was marked by Spyker’s entry with two cars in highly visible orange and silver in the F1 World Championship, following the acquisition of the Midland F1 team on 29 September, last. The effects on the worldwide brand recognition of Spyker were felt immediately since the media coverage of both the F1 acquisition as well as the participation of our cars in F1 was beyond even our own expectations. The appointment of Mike Gascoyne as CTO certainly added to that.
On the Spyker road car manufacturing side we managed to double production in comparison with 2005, an impressive performance of our dedicated staff. We expect to see further growth in our 2007 order book, particularly if the impact of our Formula One efforts will be felt worldwide in the course of the season. We also envisage to further raise production this year to come in line with demand. The start of production of the Spyker D12 Peking-to-Paris is scheduled for December 2007 and the order book for this car continues to increase. In view of an increasing demand from customers for truly limited edition top-of-the line models, Spyker is proud to announce the unveiling of such a model on the Spyker C12 chassis in cooperation with one of the world’s leading design houses on March 6,2007 on the first press day of the Salon in Geneva.
Writing black figures for the first time in our history is perhaps one of the most encouraging developments of 2006. For 2007 it is too early to predict results, since still so many sponsor deals are under negotiation. We are confident, however, that we will be able to give an estimate by the time of the publication of our 2006 figures on March 30, next.”
Michiel Mol, Spyker Cars N.V.’s Director of Formula One Racing adds: “Since the last race of the season - Brazil - in October 2006 our team has worked 24/7 to develop and build the 2007 F1 cars fitted with Ferrari engines, which will be unveiled on February 5, next, at the Silverstone F1 track. Our efforts to attract sponsors to our Team have resulted in the announcement of great partners and it is anticipated that several will follow before we start the first race of the season in Melbourne on March 18, next. We are confident that the income from 2007 TV rights, licensing and sponsorship income shall cover our cash expenses and – assuming we would succeed in bringing in more sponsors than currently envisaged- we could even improve on that.
Our ambition for the 2007 season is to score championship points and we are geared up to achieve that.”
For further information please contact:
Spyker Cars N.V.
Mr. Victor R. Muller, CEO
3899 AZ Zeewolde, The Netherlands
Tel: +31 (0)36 53 58 787
Fax: +31 (0)36 53 58 780