by Ferrari CEO Benedetto Vigna poses for {a photograph} as Ferrari unveils a brand new long run technique, in Maranello, Italy, June 15, 2022.
Flavio Lo Scalzo | Reuters
Ferrari on Thursday reported full-year income up 13% yr over yr and guided to a good stronger yr in 2023 on what its CEO known as “persistently excessive demand” for the corporate’s high-priced sports activities automobiles.
Here are the important thing numbers from the fourth-quarter earnings report:
associated investing information
- Earnings per share: 1.21 euros, versus 1.16 euros within the fourth quarter of 2021.
- Revenue: 1.368 billion euros, versus 1.172 billion euros within the year-ago quarter.
For the total yr, Ferrari earned 939 million euros, or 5.09 euros per share, on income of 5.095 billion euros. Both have been above expectations: Wall Street analysts polled by Refinitiv had anticipated full-year earnings per share of 4.94 euros on income of 4.977 billion euros.
The outcomes additionally beat Ferrari’s personal steering. Ferrari had raised its 2022 guidance in August and again in November, most just lately telling traders to anticipate income of about 5 billion euros and adjusted earnings per share of about 5 euros for the total yr.
Despite the strong outcomes, Ferrari’s fourth-quarter working margin slipped to 21.8% from 22.6% within the year-ago interval. That year-ago revenue margin was boosted by the primary of Ferrari’s seven-figure Icona fashions, the Monza SP1 and SP2; shipments of the Monza’s successor, the Daytona SP3, did not start till the very finish of 2022.
Ferrari Purosangue
Source: Ferrari
Still, Ferrari shipped 13,221 autos in 2022, up practically 19% from 2021, notching a brand new file.
Ferrari expects extra data in 2023: Its steering requires income of about 5.7 billion euros in 2023, with adjusted earnings per share between 6 euros and 6.20 euros. It additionally sees a lift in working margin, to about 26%, powered by the Daytona and the upcoming Purosangue SUV.
“Despite a posh international macroscenario, we glance forward with nice confidence,” CEO Benedetto Vigna stated in an announcement.
U.S.-listed shares of Ferrari have been up greater than 2% in premarket buying and selling Thursday.
