Ferrari ends 2022 strong. The Italian manufacturer published this Thursday excellent results for its 2022 financial year: throughout the year, it completed 13,221 deliveries compared to 11,155 last year (+19%). A record for the brand. Its turnover exceeded 5,000 million euros (5,095 million to be exact), an increase of 19% again.
Robust growth that is also reflected in an increase in margins, despite the rise in costs: its net profit also jumps 13% and is close to one billion (939 million euros), a symbol of pricing power of the luxury brand. And here also reaching a new record.
All activities were boosted in 2022, from car and parts sales (+21.5% to €4.34bn) to sponsorship revenue (+11.1% to €479m). The only segment in decline, engines, affected by the drop in sales with Maserati, due to the upcoming expiration of the contract that unites the two brands (in 2023).
On the model side, the Portofino M and SF90 family are driving growth, pending the emergence of the promising 296 GTB hybrid. The Maranello firm also maintains its objective, described in its strategic plan, of producing 60% hybrid vehicles by 2026 and 80% by 2030. Betting in particular on its SUV, the Purosangue.
2023, another acceleration
Europe, Africa and the Middle East remain the most lucrative area of its portfolio in 2022, with 45% of sales and growth of 8.5%. But a recovery is underway: that of the area that groups China, Hong Kong and Taiwan. It now represents 12% of deliveries compared to 8% last year, and shows growth of 72.6%. The “Americas” market remained stable at 26% of deliveries, with growth of 21.8%.
Ferrari awaits confirmation of this very positive trend next year: the group wants to believe in a turnover of 5.7 billion euros in 2023, and a stable adjusted Ebitda, around 26% compared to the current 24%.
“Our order book is strong and covers all of this year and a good part of next year,” Chief Executive Benedetto Vigna told reporters, Reuters reported. Benedetto Vigna is counting in particular on sales of the brand’s first SUV, the Purosangue, whose orders, according to him, have exceeded all expectations.
It intends to increase its prices to offset inflation-induced costs and meet its targets. The objective: to reach 6,700 million euros in 2026, as indicated by its strategic plan presented last June in Italy.
Source: BFM TV
