The excellent quarterly results are not enough for Ferrari, which is currently down by 4.49% on the stock market. Despite the many problems for the automotive sector, Ferrari closed the first quarter of 2022 with record double-digit growth.
In the first three months of 2022, 3,251 units were delivered with an increase of 17.3% (or 480 units) compared to the first quarter of 2021. Deliveries in the quarter were driven by the Ferrari Roma and the SF90 family, together with Portofino M.
Net revenues of the Maranello-based company were equal to 1.186 billion euros (+ 17.3% compared to the first quarter of 2021); this is thanks to an 18.3% increase in revenues from the sale of cars and spare parts.
Ebitda was 423 million euros, slightly below the analyst consensus of 425 million euros, but up 12.5% compared to the previous year, with an EBITDA margin of 35, 6%.
Il cavallino rampante closed the first three months of the year with a net profit of € 239 million, an increase of 16.4% over the previous year with diluted earnings per share of € 1.29.
Net industrial debt of € 136 million was recorded at March 31, 2022, down from the € 297 million of December 31, 2021. Finally, at March 31, 2022 the total available liquidity was € 2,162 million.
On April 13, 2022, the shareholders’ meeting approved the proposal to distribute a dividend of € 1.362 per share and it will be paid on May 6, 2022.
Ferrari confirmed its forecasts for the year made three months ago, including one for an adjusted EBITDA of between 1.65 and 1.70 billion euros.