Ferrari closes the second quarter of 2024 with growing accounts and raises its estimates for 2024. Revenues amounted to 1,71 billion euros (+16,2% y/y), deliveries to 3.484 units (+2,7 %).The Adjusted Ebit is 511 million (+17,0%) equal to a margin of 29,9%. Adjusted net profit was 413 million and diluted earnings per share were 2,29 euros. Ebitda stood at 669 million (+13,7%) equal to a margin of 39,1%. Industrial free cash flow generation is 121 million.
«We are pleased to announce excellent financial results in the second quarter of 2024, which once again demonstrate solid execution and continued growth. Our net revenues and profitability increased by double digits thanks to the higher product mix and increased demand for customization, which led us to raise the guidance for 2024,” he said Benedict Vigna, CEO of Ferrari. «The quarter also saw the inauguration of the new e-building, during a week of events focused on sustainable innovation with our stakeholders, and the new victory at the 24 Hours of Le Mans».
Revenues from cars and spare parts amounted to 1,4 billion (up 17,1% or 20,2% at constant exchange rates), thanks to the richer product and geographic mix, the greater contribution of customizations and to the increase in volumes. The increase in revenues from sponsorships, commercial and brand revenues – 168 million, up +13,8% or +14,8% at constant exchange rates – is attributable to new sponsorships and activities lifestyle.
