Luxury carmaker Ferrari posts 21% hike in full-year profit, sees 2025 growth

Tue, 04 Feb 2025 12:12:31 GMT

The Ferrari F50 at Salon Prive London, held at the Royal Chelsea Hospital. Martyn Lucy | Getty Images News | Getty ImagesLuxury carmaker Ferrari on Tuesday reported a significant upswing in full-year net profit, citing a strong product mix and growing demand for personalization.Ferrari posted net profit of 1.53 billion euros ($1.58 billion) for the full-year 2024 period, reflecting a 21% increase from the previous year.Other earnings highlights:Full-year net revenues came in at 6.7 billion euros, up nearly 12% year-on-year.Full-year earnings before interest, tax, depreciation and amortization (EBITDA) came in at 2.56 billion euros, up from 2.28 billion euros in the year prior.Milan-listed shares of the company rose 4.7% on the news, reversing earlier losses. U.S.-listed shares, meanwhile, were last seen 3.3% higher.Ferrari said it expected net revenues to increase by roughly 5% to more than 7 billion euros in 2025, up from 6.7 billion euros in 2024.”Quality of revenues over volumes: I believe this best explains our outstanding financial results in 2024, thanks to a strong product mix and a growing demand for personalizations,” Ferrari CEO Benedetto Vigna said in a statement accompanying the results. “On these solid foundations, we expect further robust growth in 2025, that will allow us to reach one year in advance the high-end of most of our profitability targets for 2026,” he added.This is breaking news. Please refresh for updates.

原文链接:https://www.cnbc.com/2025/02/04/luxury-carmaker-ferrari-posts-21percent-uptick-in-full-year-profit-sees-2025-growth.html