The Ferrari F50 at Salon Prive London, held on the Royal Chelsea Hospital.
Martyn Lucy | Getty Photographs Information | Getty Photographs
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 automobiles.
Ferrari posted internet revenue of 1.53 billion euros ($1.58 billion) for the full-year 2024 interval, reflecting a 21% improve from the earlier yr.
Different earnings highlights:
- Full-year internet revenues got here in at 6.7 billion euros, up almost 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 had been final seen up about 7.8%, reversing earlier losses. U.S.-listed shares, in the meantime, rose up 8%.
Ferrari mentioned 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 that its core earnings — the adjusted earnings earlier than curiosity, depreciation and amortization — will develop by at the very least 5% this yr.
“I feel that the yr has been excellent for our firm. We now have been capable of move all of the metrics that we created over the past steering,” Ferrari CEO Benedetto Vigna advised CNBC’s Charlotte Reed on Tuesday.
Requested concerning the potential impression of U.S. tariffs, Vigna replied: “We try to know what will be the proportion and when is the beginning date … Let’s wait [until] that is changing into a reality.”
Analysts mentioned late final yr that they count on Ferrari to be one thing of an exception amongst Europe’s automotive sector, whilst many carmakers come beneath stress from U.S. tariffs.
Ferrari, which solely produces its vehicles in Italy, is regarded as properly positioned to move on any improve in costs, ought to U.S. President Donald Trump materialize his pledge to introduce increased tariffs on the European Union.
Vigna additionally mentioned Ferrari is on monitor for the landmark launch of its first absolutely electrical automobile at its capital markets day on Oct. 9 on the agency’s Maranello base in Italy.
“It’s for certain an essential addition for our product supply as a result of, for the primary time in our historical past, we can have three sorts of traction: the ICE [internal combustion engine], hybrid and electrical,” Vigna added.
