Ferrari exceeded all its sales and revenue targets for 2024, registering a net profit of more than €1.5bn for the last calendar year. Specifically, the number was €1.526bn (£1.268bn), a 21.3 per cent increase on 2023; at a time when so many companies appear to be struggling, Ferrari’s customers (much like Lamborghini customers) just can’t get enough from Maranello.
Ferrari is in a great position, basically, for perhaps its biggest announcement ever; along with the results announcement, CEO Benedetto Vigna said that “we will reveal more of our future on 9 October at our Capital Markets Day.” That future, everyone agrees, refers to the long-heralded unveiling of the Ferrari EV - its very first all-electric offering. What a quiet day on the internet that’ll be.
Vigna continued: “Last year's results reflect a great teamwork that involved all our Company’s souls. This teamwork was also visible in a very competitive racing season. The will to progress that has always characterized Ferrari has led to innovation in our infrastructure, with the inauguration of the e-building; in our products, best highlighted by the new supercar, the Ferrari F80; and in R&D, with the new E-Cells Lab that will further strengthen our electrochemical knowledge to prepare us for the future.” Nothing stands still for very long in Maranello.
In terms of important raw stats, Ferrari shipped 13,752 cars in 2024, which was 0.7 per cent up on 2023, but delivered an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of €2.55bn (£2.12bn), up 12.1 per cent on ‘23. So when Vigna talks of “quality of revenues over volumes”, that’s what he means - make a similar amount of Ferraris, but make more profit from them.
The model split reflects that aim, with the slight increase driven by the Purosangue - the most expensive model in the range - plus the Roma Spider and 296 GTS, both of which are pricier than their coupe counterparts. It might be argued they lend themselves even better to personalisation than the hardtops, too, which is extremely lucrative - and also was on the rise in 2024. Shipments of the Daytona SP3 increased ‘in line with plans.’ Hybrid models like the 296 just outsold pure combustion Ferraris, 51 per cent to 49.
We can expect more electrified Ferraris to come, with six new models due including the EV. The 12Cilinidri Spider is imminent, and we can surely expect a spicier 296 GTB in due course ahead of its renewal; given its popularity, it seems likely that the Roma will get its new version sooner rather than later. But little short of a 250 GTO continuation will stop the electric car being the biggest Ferrari news story out of Maranello this year. October will be here before you know it.
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