Ferrari Reports Outstanding Financial Performance

Ferrari reported on Tuesday a significant increase in full-year net profit, attributing it to a robust product mix and a growing demand for personalized features in its vehicles.

The company delivered 13,752 cars globally in 2024, marking a 0.7 percent rise from 2023. Ferrari recorded a net profit of 1.53 billion euros (£1.58 billion) for the entire year of 2024, reflecting a 21% increase compared to the previous year.

Other notable revenues:

Full-year net revenues amounted to 6.7 billion euros, which is almost 12% more than the previous year.

Full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to 2.56 billion euros, compared to 2.28 billion euros in the previous year.

The company’s shares on the Milan stock exchange rose 4.5% on the news, reversing earlier losses. Ferrari said it expects net income to increase by around 5% to more than 7 billion euros in 2025, after meeting its 2024 targets.

The company also projects that its core earnings—adjusted earnings before interest, depreciation, and amortization—will grow by at least 5% this year.

“Quality of revenue over quantity: I believe this best explains our outstanding financial results in 2024, thanks to a strong product mix and growing demand for personalization,” Ferrari CEO Benedetto Vigna said in a statement accompanying the results.

“On this solid foundation, we expect continued strong growth in 2025, which will allow us to achieve the high level of most of our 2026 profitability targets a year in advance,” he added.

Analysts said late last year that they expected Ferrari to be something of an outlier in the European auto sector, even as many automakers are under pressure from U.S. tariffs.

Ferrari, which manufactures its cars exclusively in Italy, is seen as well-positioned to pass on any price increases if US President Donald Trump follows through on his promise to impose higher tariffs on the European Union

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