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Q2 2024 RESULTS CONFIRM STRONG EXECUTION AND CONTINUED GROWTH 2024 GUIDANCE REVISED UPWARD
Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results(1) for the second quarter and six months ended June 30, 2024:
- Net revenues of Euro 1,712 million, up 16.2% versus prior year, with total shipments of 3,484 units up 2.7% versus Q2 2023
- Adjusted EBIT of Euro 511 million, up 17.0% versus prior year, with adjusted EBIT margin of 29.9%
- Adjusted net profit of Euro 413 million and adjusted diluted EPS at Euro 2.29
- Adjusted EBITDA of Euro 669 million, up 13.7% versus prior year, with adjusted EBITDA margin of 39.1%
- Industrial free cash flow generation of Euro 121 million
“We are delighted to announce excellent financial results in the second quarter of 2024, which demonstrate again a strong execution and continued growth. Our net revenues and profitability were up double digit, sustained by the enrichment of the product mix and the increased demand for personalizations, which led us to upgrade our 2024 guidance” said Benedetto Vigna, CEO of Ferrari. “The quarter was also marked by the inauguration of our new e-building, during a week of events dedicated to sustainable innovation with our stakeholders, and the new victory at the 24 Hours of Le Mans”.
1 These results have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board and IFRS as endorsed by the European Union
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