Home » Ferrari closes a record quarter: 1.54 billion in net revenues

Ferrari closes a record quarter: 1.54 billion in net revenues

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Ferrari closes a record quarter: 1.54 billion in net revenues

Ferrari continues to take the satisfaction from industry and finance that it is unable to obtain on the F1 tracks. The Maranello company closed a record third quarter with 1.5 billion in net revenues, up 23.5% compared to the previous year, with 3,459 cars delivered, up 8.5%. Net profit is 332 million: +46%. Adjusted EBIT amounted to 423 million, up by 41.6%, with a margin of 27.4%. The adjusted EBITDA was 595 million, up 37%, with a margin of 38.6%. The generation of industrial free cash flow amounted to 301 million.

The company controlled by Exor of the Agnelli family and led by the CEO, Benedetto Vigna, with John Elkann as president, has raised its estimates for 2023. Ferrari forecasts revenues of 5.9 billion (previously it was 5.8 billion) and adjusted ebit at 1.57 billion (it was between 1.51 and 1.54 billion).

«Another record quarter – comments Vigna – with profit growth driven by an even richer mix and the continued appeal of customizations, which leads us to increase the guidance for the year. The order book remains at the highest levels thanks to strong demand in all geographical areas and extends throughout 2025.” Net industrial debt at 30 September 2023, equal to 233 million compared to 331 million at 30 June 2023, also reflects the buyback of treasury shares for 194 million. As of 30 September, total available liquidity was equal to 1.6 billion (1.7 billion as of 30 June), including committed and unused credit lines of 600 million.

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«The uniqueness of our brand, which once again contributed to this success – explains Vigna – is an inspiration for everything we do: from the launches of new models, including the latest 296 Challenge and 499P Modificata, to the exclusive experiences that we offer to our customers, such as the recent Ferrari Gala in New York and the Finali Mondiali at the Mugello circuit.”

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