Press release
225KB
may 05, 2023 - Ferrari
Ferrari: strong results, with demand heading into 2025
Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results for the first quarter ended March 31, 2023, summarized below:
- Total shipments of 3,567 units, up 9.7% versus Q1 2022
- Net revenues of Euro 1,429 million, up 20.5% versus prior year
- Adjusted EBITDA of Euro 537 million, up 27.0% versus prior year
- Adjusted EBIT of Euro 385 million, up 25.3% versus prior year
- Adjusted EBITDA margin of 37.6% and Adjusted EBIT margin of 26.9% in the quarter
- Adjusted net profit of Euro 297 million and adjusted diluted EPS at Euro 1.62
- Industrial free cash flow generation of Euro 269 million
“Another exceptional quarter for #ferrari. Double-digit growth across the main parameters, with EBITDA margin at 37.6% reaching a new high and net profit up to Euro 297 million,” said Benedetto Vigna, #ferrari CEO. “Our order book already extends into 2025 with an award-winning product portfolio. We have decided to reopen orders for the Purosangue, suspended due to an initial unprecedented demand, and launched the Roma Spider to further enrich our offer. We are on track with our electrification journey on the development of both sports cars and infrastructures in Maranello”.
On May 4, 2023, at 3:00 p.m. CEST, management will hold a conference call to present the Q1 2023 results to financial analysts and institutional investors. Please note that registering in advance is required to access the conference call details. The call can be followed live and a recording will subsequently be available on the Group’s website https://www.ferrari.com/en-EN/corporate/investors. The supporting document will be made available on the website prior to the call.
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