Ferrari Reports Strong Financial Performance for 2024
The renowned Italian automotive manufacturer, Ferrari, recently announced its impressive financial results for 2024 through a press release published on its official website. The company reported a net profit of €1,526 million, alongside an operating profit of €1,888 million, marking a significant increase of 16.7% compared to the previous year.
In the press release, Ferrari emphasized its commitment to prioritizing the quality of revenues over sheer volume, stating, “This approach best explains our outstanding financial results for 2024, driven by a robust product mix and an increasing demand for personalized offerings.”
Looking ahead, the luxury carmaker anticipates continued robust growth in 2025, which is expected to enable the company to achieve the upper end of its profitability targets for 2026 a year ahead of schedule. CEO Benedetto Vigna expressed pride in last year’s achievements, highlighting the collaborative efforts across the organization, stating, “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 drive for progress that has always been a hallmark of Ferrari is evident in multiple facets of the company’s operations. Vigna elaborated on recent innovations, noting the inauguration of the e-building, the introduction of the striking new supercar, the Ferrari F80, and advancements in research and development, particularly with the establishment of the new E-Cells Lab. This lab is set to enhance Ferrari’s electrochemical expertise, preparing the company for a future focused on sustainability and innovation.
As a teaser for what lies ahead, Vigna mentioned an upcoming announcement scheduled for October 9 during the Capital Markets Day, where further insights into the company’s strategic direction will be shared.
Following the release of these promising financial results, Ferrari’s stock experienced a notable increase, rising by 4.79% on Tuesday afternoon.
