Ferrari has achieved record results thanks to high demand for its luxury sports cars and is raising its forecast. Earnings before interest, taxes, depreciation and amortization (Ebitda) climbed 15 percent to 446 million euros in the second quarter, beating analysts’ expectations. The bottom line is that the company recorded a profit of 251 million euros, 22 percent more than a year ago.
Sales increased by a quarter to almost 1.3 billion euros. However, the return on sales fell within a year by almost three percentage points to a still lush 34.6 percent. For comparison: the one for the VW subsidiary Audi belonging sports car manufacturer Lamborghini achieved 31.9 percent after six months. “The quality of the first six months and the robustness of our business enable us to correct the forecast for 2022 upwards for all key figures,” said Ferrari boss Benedetto Vigna (53) on Tuesday.
Incoming orders also reached an all-time high in the period from April to June. The company with the prancing horse as its logo then raised its forecast for the full year slightly and now expects adjusted operating profit (Ebitda) of between 1.70 and 1.73 billion euros. Previously, management had put a range between 1.65 and 1.70 billion views. the share
Nevertheless, after the figures were announced on the Milan Stock Exchange, it lost 1.4 percent in value.
According to the information, Ferrari increased deliveries compared to the previous year by 29 percent to 3455 vehicles – 17 percent of which were equipped with hybrid drives, the rest with internal combustion engines. Ferrari sold more, especially in America, as well as in China, Hong Kong and Taiwan.
The luxury sports car manufacturer relies heavily on the electrification of its range (Read the big inside report)
: Ferrari wants to deliver four out of five cars (80 percent) with an electric motor by 2030, two of them (i.e. 40 percent) should be purely electric. The performance of the sports car will continue to increase. The first electric model is to be launched in 2025, with 15 new models to be presented between 2023 and 2026. The first Ferrari SUV should come in September.