Milan, May 8, 2024 – Italian luxury sports carmaker Ferrari reported strong results for the first quarter of 2024, exceeding analyst expectations. The company achieved double-digit growth in core earnings and revenue.
Despite a slight decline in sales volume, Ferrari managed to secure record results thanks to price increases and a favorable product mix. The company benefits from the high popularity of its brands and product exclusivity, and this trend is expected to continue throughout 2024.
Key points:
- Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) reached €605 million (+12.7%)
- Net profit rose to €352 million (+19%)
- Revenue climbed to €1.59 billion (+11%)
- Sales volume dipped to 3,560 cars
- Company confirms full-year 2024 forecasts: EBITDA of at least €2.45 billion, revenue exceeding €6.4 billion
Sources: Ferrari website
