Italian Ferrari received record net profit and revenue in 2022

The Italian manufacturer of sports cars Ferrari NV in 2022 increased its net profit by 13% and recorded a 19% increase in revenue, and both indicators turned out to be record in the history of the company.

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As reported in the press release, for 2022 Ferrari received a net profit of 939 million euros, compared to 833 million euros in 2021, with a revenue of 5.1 billion euros against 4.27 billion euros a year earlier. Adjusted EBITDA increased by 16% to EUR 1.77 billion.

The automaker’s net profit in October-December amounted to 221 million euros against 214 million euros for the same period of the previous year.

Quarterly profit before taxes, interest and depreciation (EBITDA) increased to 469 million euros from 398 million euros a year earlier.

Revenue rose by 17% and reached 1.37 billion euros.

In the fourth quarter, Ferrari sold 3,327 cars (an increase of 13% in annual terms), deliveries per hour totaled 13,221 cars (an increase of 19%).

“These indicators form the basis for an even stronger year 2023 thanks to the steady demand for our products worldwide,” said the company’s CEO, Benedetto Vigna.

In 2023, Ferrari expects to receive adjusted EBITDA in the region of 2.13-2.18 billion euros, and revenue is expected at the level of 5.7 billion euros.

Ferrari shares are down 2.4% in Milan trading on Friday. The capitalization of the company has grown by 20% since the beginning of the year and now amounts to about 56.7 billion euros.

Author: News feed editor Anna Nedogybchenko. She writes on the following topics: Finance, banks, economy, investments