Ferrari, boom in revenues (despite errors on the track)

The Italian car giant Ferrari closed the second quarter of 2022 with a net profit of 251 million eurosof the 22% higher compared to the same period in 2021. These excellent results complement a semester in which the company was able to increase revenues by 21% compared to the same period in the past year, bringing them to 2.47 billion euros. The other performance indicators also show Ferrari’s extremely positive momentum from a financial point of view: in the first half of 2022, the gross operating margin – which measures industrial profitability, or the ability of a company to generate wealth – grew by 14%net profit grew 19% and car deliveries increased 23%.

Thanks to these results, Ferrari has revised the expectations on the results for the whole of 2022. If previously it was expected that annual revenues would reach 4.8 billion euros, now this figure is at 4.9 billion, and if the forecast for the annual gross operating margin was between 1.65 and 1.70 billion euro, now settles between 1.70 and 1.73. Among the reasons for these improvements, Ferrari indicated a “enrichment of the mix of models”, Which will also include the Daytona SP3 and the Purosangue, whose deliveries will arrive starting next year.

“Ferrari continues a phase of strong growth, with record quarterly results in terms of revenues, Ebitda and Ebit (EBITDA indicators, ed.) “- declared Ferrari CEO Benedetto Vigna – “The quality of the first six months and the strength of our business allow us to revise the guidance for 2022 upwards on all metrics. Net order taking also reached a new record level in the quarter “.

These extraordinary financial results come later at disappointments of the team in the Formula 1 world championshipwhich this year had a good start for Ferrari – with two wins in the first three races – but which after a few failed Grand Prix has become prohibitive.