The Ferrari model emblem, the coat of arms with the lettering and a rising horse (cavallino rampante), could be seen on the rim of a car from the sports activities automotive producer in Munich (Bavaria) on April 6, 2025.
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Luxurious carmaker Ferrari on Tuesday reported a big upswing in first-quarter revenue, citing sturdy demand for personalised autos — however warned U.S. President Donald Trump‘s commerce coverage may hit earnings this 12 months.
The Maranello, Italy-based sports activities automotive producer posted web revenue of 412 million euros ($466.3 million) for the primary three months of the 12 months, reflecting a 17% enhance from the identical interval final 12 months.
Analysts had anticipated first-quarter web revenue to return in at 410 million euros, in line with Reuters ballot.
“One other 12 months is off to an ideal begin,” Ferrari CEO Benedetto Vigna stated in a press release.
“Within the first quarter of 2025, with only a few incremental shipments 12 months on 12 months, all key metrics recorded double-digit development, underscoring a robust profitability pushed by our product combine and continued demand for personalizations,” Vigna stated.
Wanting forward, Ferrari warned that the introduction of U.S. tariffs on EU automobiles imported into the U.S. may negatively influence the agency’s profitability this 12 months.
“The [2025] steerage is topic to a possible danger of fifty foundation factors discount on profitability share margins (EBIT and EBITDA margins), in relation to the replace of the industrial coverage following the introduction of import tariffs on EU automobiles into the USA,” the automaker stated in its earnings report.
Ferrari’s 2025 steerage consists of web income of greater than 7 billion euros ($7.93 billion), earnings earlier than curiosity, taxes, depreciation, and amortization of not less than 2.68 billion euros ($3.04 billion) and adjusted earnings per share of 8.60 euros ($9.74).
Luxurious carmakers are contending with the disruptive influence of Trump’s back-and-forth commerce tariff coverage. A number of European auto giants reported a pointy downturn in quarterly revenue this earnings season, with many suspending or slicing monetary steerage as Trump’s tariffs take their toll.
The president imposed a 25% tariff on automotive imports into the U.S. in early April. Trump sought to water down these levies final week, nonetheless, signing an govt order designed to forestall a variety of different separate duties — equivalent to a further 25% tariffs on metal and aluminum — from “stacking” on high of each other.
Ferrari stated in late March that it might increase costs by 10% on sure fashions in response to the tariffs. The transfer would add as much as $50,000 to the value of a typical Ferrari.
Shares of the Milan-listed inventory traded round 0.8% decrease at 12:44 p.m. London time. Shares of the U.S.-listed shares had been about the identical.
The automaker’s world shipments had been up lower than 1% in the course of the first quarter to three,593 autos. Regardless of the flat shipments, Ferrari’s web income elevated roughly 13% to 1.79 billion euros ($2.03 billion) and its web revenue was up 17% to 412 million euros ($466.7 million).
— CNBC’s Michael Wayland contributed to this report.
