A Quarter of Records, 2022 Guidance Revised Upward on All Metrics
Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results for the second quarter and six months ended June 30, 2022. Results for the Q2 are summarized as follows:
- Total shipments of 3,455 units, up 28.7% versus Q2 2021
- Net revenues of Euro 1,291 million, up 24.9% versus prior year
- EBITDA of Euro 446 million, up 15.5% versus prior year
- EBIT of Euro 323 million, up 17.8% versus prior year
- EBITDA margin of 34.6% and EBIT margin of 25.0%, in line with full year targets
- Net profit of Euro 251 million and diluted EPS at Euro 1.36
- Industrial free cash flow generation of Euro 79 million, implying the best ever Q2 in terms of operating performance before taxes
“Ferrari continues a phase of strong growth, with quarterly record results in terms of revenues, EBITDA and EBIT. The quality of the first six months and the robustness of our business allows us to revise upward the 2022 guidance on all metrics. Also the net order intake reached a new record level in the quarter” – commented Benedetto Vigna, Chief Executive Officer of Ferrari. “The last quarter was also notable for the unique memories generated by our 75th anniversary celebrations and the Cavalcades, which raised the experiences we offer clients for sharing the passion and spirit of Ferrari to new levels as we continue to push the boundaries.”
More information in the press release attached.
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