financetom
Business
financetom
/
Business
/
Ferrari sees further growth this year after beating forecasts in 2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Ferrari sees further growth this year after beating forecasts in 2024
Feb 4, 2025 5:02 AM

MILAN (Reuters) -Luxury sports car maker Ferrari said on Tuesday its revenue and core earnings would rise by at least 5% this year, supported by strong product delivery and demand for personal touches to its vehicles, having met targets for 2024.

The Italian company said it saw its earnings before interest, tax, depreciation and amortisation (EBITDA) growing to at least 2.68 billion euros ($2.77 billion) in 2025, from 2.56 billion euros in full-year 2024.

Last year's EBITDA result compares with Ferrari's forecast for a result of at least 2.50 billion euros.

Milan-listed shares in the company reversed limited losses after results were published and were up 3.3% by 1215 GMT.

CEO Benedetto Vigna said a strong product mix and a growing demand for personalisations had driven the 2024 results.

"On these solid foundations, we expect further robust growth in 2025," he said in a statement, adding this would allow Ferrari to meet one year in advance the high-end of most of its profitability targets set for 2026.

Personalisations refer to the finishing touches that Ferrari buyers add at extra cost to their cars, and mainly relate to paint, liveries and use of carbon.

Ferrari, which last year delivered 13,752 cars, 89 more than in 2023, said product mix and pricing power contributed 386 million euros to 2024 EBITDA, sustained by the deliveries of the 12-cylinder Daytona SP3 and a few units of the track-only 499P Modificata.

An increase in deliveries to clients in the United States also supported the result, the company said.

Ferrari, which has promised its first fully-electric car in the final quarter of this year, on Tuesday said it would hold a capital markets day on Oct. 9.

($1 = 0.9687 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Copyright 2023-2026 - www.financetom.com All Rights Reserved