Luxurious carmaker Ferrari reported sturdy earnings on Tuesday with internet revenue rising to greater than €1.5 million final yr.
The Italian group mentioned in a press launch on its web site that its internet revenue for 2024 got here in at €1,526 million, whereas its working revenue got here in at €1,888 million, up 16.7% versus the prior yr.
“High quality of revenues over volumes: I imagine this greatest explains our excellent monetary ends in 2024, because of a powerful product combine and a rising demand for personalisations,” a Ferrari press launch mentioned.
The corporate additionally mentioned it expects additional sturdy development in 2025, that may permit it to succeed in one yr upfront the high-end of most of its profitability targets for 2026.
“Final yr’s outcomes mirror a fantastic teamwork that concerned all our firm’s souls. This teamwork was additionally seen in a really aggressive racing season,” Benedetto Vigna, CEO of Ferrari, famous within the press replace.
“The need to progress that has all the time characterised Ferrari has led to innovation in our infrastructure, with the inauguration of the e-building; in our merchandise, greatest highlighted by the brand new supercar, the Ferrari F80; and in R&D, with the brand new E-Cells Lab that may additional strengthen our electrochemical information to organize us for the longer term. And we are going to reveal extra of our future on 9 October at our Capital Markets Day,” Vigna added.
Following the monetary replace, Ferrari’s share value was up 4.79% on Tuesday afternoon.