The suit is sharp, the hair fashionably tousled and the sideburns are pronounced. Stephan Winkelmann looks like a dashing 1970s advertising hero – it is easy to imagine him in a white turtleneck, reaching for a martini with a slender blonde draped either side. The smile appears genuine though and, as president and chief executive of the Italian supercar builder Lamborghini, it seems that Mr Winkelmann has something to smile about.

Lamborghini is unique in the world of the supercar, In its turbulent 44-year history, it has been on the verge of collapse more times than anyone cares to remember, and yet has managed to survive. Under Mr Winkelmann, the company has experienced an impressive turnaround and is in a state of financial healthiness that many thought impossible even five years ago, such were the extent of its losses.

Mr Winkelmann took seven weeks to accept the job at the end of 2004, after Audi had gained control of the troubled manufacturer. It does seem, however, that the current state of the business has more to do with clever strategy than a bottomless pit of parent-company money.

Mr Winkelmann was born of German parents, spent the first 20 years of his life in Rome and has travelled extensively, mostly as one of Fiat’s top brass. “Austria, Switzerland, Turin and Germany – I’ve been around,” he says.

His accent is a strange blend of Italian verve and Germanic precision; the sort of attributes, it could be argued, that were needed to lead Lamborghini into profit.

“We decided to focus on the key strengths of the brand,” he says, gesticulating wildly. “Lamborghini is known for being extreme so that’s what we wanted to preserve.

“Yet while we’re selling more and more cars to meet worldwide demand, we have started to market the company’s name with very fashionable merchandising, increasing brand awareness as well as bringing in extra revenue.

“We’re also selling more spares than ever and the optional extras available throughout our range help to maximise the profits on each new car sold.”

In 2003 Lamborghini sold more than 1,000 cars for the first time, steadily increasing through 2004 to 2005, when it finally turned a pretax profit of €4 million (£2.6 million).

Last year, when more than 2,000 were sold worldwide, Lamborghini reported earnings of €18.1 million, and the results for the first six months of 2007 are soon to be announced. Mr Winkelmann’s chirpy demeanour may suggest there’s good news to come. “We’re getting serious,” he says. We are not just a toy producer for men. We are a quality car company and the results will speak for themselves.”

Members of the Lamborghini workforce speak highly of Mr Winkelmann. He claims to have made positive working conditions at the manufacturing plant a priority.

He says: “We are constantly investing money in the factory and its facilities. For the Italians it’s very important what you get at lunch.”

The predominantly Sant’ Agata-based workforce of 800 seems happy with the way the business is being led. There is an unprecedented security and some of the craftsmen and women who build these cars describe Mr Winkelmann as down-to-earth, approachable and open, and working on developing a “family feeling” in the company.

If you believe the enamoured staff, the future’s bright – maybe that's why they all wear sunglasses.

It was not long ago that Lamborghini thought that selling 250 cars a year was the way for it to go. In the 1970s and 1980s, especially, the range of products was confused and the build quality a joke.

The company was building the outrageous Countach supercar – which made more money for the owners of the Athena posters than it did its maker – alongside the LM002, a gargantuan off-road vehicle that makes the Hummer look dainty. The business lurched from one crisis to another.

Mr Winkelmann is quick to deny rumours that Lamborghini is planning to diversify with a more affordable “baby” supercar like Aston Martin's V8 Vantage. He says: “We build super sports cars; it’s what we are known for throughout the world and we will always remain focused on this.

“We have no need to expand to a three-model range and it would dilute what Lamborghini stands for.”

The UK is the third-largest export market for Lamborghini, after the US and Germany. This is a far cry from the mid1980s, when British imports of Lamborghini ceased completely.

Mr Winkelmann says that a fourth dealership is soon to open in Edinburgh, joining the existing trio in London, Birmingham and Manchester.

“When I came here in ’04, there were 65 dealers worldwide,” he says. “Today there are 105 and by the end of this year we’ll have increased this to 110.”

Mr Winkelmann is also focused on the new money in emerging markets such as China, India and Russia.

“In India and Russia, we see a steady increase in the demand for luxury products, but when it comes to cars, the trend is often still one of buying big cars for chauffeurs to drive,” he says.

“But we’re watching with interest to see where it all leads. China, though, will soon be in our top five markets.”

Mr Winkelmann makes clear that he values the Lamborghini brand and its heritage. When I was a boy I had a model car – it was a Lamborghini Miura,” he says. “For me, the past glories of this company and the iconic cars it has produced should not be forgotten, but neither should they influence our future. Times have changed and Lamborghini is now a world-class centre of excellence.”

The company that was born out of a desire to teach Enzo Ferrari a lesson or two appears to have recovered under Mr Winkelmann’s leadership.

Here’s to another 40 years for the raging bull of Lamborghini. If nothing else, the world would be a duller place without it.

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