The Ferrari F50 at Salon Prive London, held on the Royal Chelsea Hospital.
Martyn Lucy | Getty Photos Information | Getty Photos
Luxurious carmaker Ferrari on Tuesday reported a big upswing in full-year internet revenue, citing a powerful product combine and rising demand for private touches to its autos.
Ferrari posted internet revenue of 1.53 billion euros ($1.58 billion) for the full-year 2024 interval, reflecting a 21% enhance from the earlier yr.
Different earnings highlights:
- Full-year internet revenues got here in at 6.7 billion euros, up practically 12% year-on-year.
- Full-year earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) got here in at 2.56 billion euros, up from 2.28 billion euros within the yr prior.
Milan-listed shares of the corporate rose greater than 8% on the information, reversing earlier losses. U.S.-listed shares, in the meantime, had been final seen round 9% larger.
Ferrari stated it anticipated internet revenues to extend by roughly 5% to greater than 7 billion euros in 2025, having met its targets in 2024.
The Italian firm additionally forecast its core earnings — the adjusted earnings earlier than curiosity, depreciation and amortization — will develop by at the very least 5% this yr.
“High quality of revenues over volumes: I imagine this greatest explains our excellent monetary ends in 2024, due to a powerful product combine and a rising demand for personalizations,” Ferrari CEO Benedetto Vigna stated in an announcement accompanying the outcomes.
“On these strong foundations, we anticipate additional strong development in 2025, that can enable us to succeed in one yr prematurely the high-end of most of our profitability targets for 2026,” he added.
Analysts stated late final yr that they anticipate Ferrari to be one thing of an exception amongst Europe’s automotive sector, whilst many carmakers come below stress from U.S. tariffs.
Ferrari, which solely produces its automobiles in Italy, is considered properly positioned to go on any enhance in costs, ought to U.S. President Donald Trump materialize his pledge to introduce larger tariffs on the European Union.
