A Quarter of Records, 2022 Guidance Revised Upward on All Metrics
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Ferrari N.V. (NYSE/EXM: RACE) reported strong second quarter results for 2022, highlighting a significant growth trajectory. Shipments reached 3,455 units, up 28.7% from Q2 2021. Net revenues soared to Euro 1,291 million, a 24.9% increase year-over-year. EBITDA and EBIT also showed robust growth, with figures at Euro 446 million and Euro 323 million, respectively. The company’s net profit hit Euro 251 million, translating to a diluted EPS of Euro 1.36. Ferrari has revised its 2022 guidance upward across all metrics and recorded a historic net order intake during this period.
Positive
- Total shipments increased by 28.7% to 3,455 units.
- Net revenues grew 24.9% to Euro 1,291 million.
- EBITDA rose 15.5% to Euro 446 million.
- EBIT increased by 17.8% to Euro 323 million.
- Net profit reached Euro 251 million with a diluted EPS of Euro 1.36.
- Industrial free cash flow generation was Euro 79 million, marking a record Q2.
- Record net order intake achieved in the quarter.
Negative
- None.
Details
News Market Reaction – RACE
The recorded move for RACE in the trading session of this news was -1.02%.
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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 , up24.9% versus prior year - EBITDA of
Euro 446 million , up15.5% versus prior year - EBIT of
Euro 323 million , up17.8% versus prior year - EBITDA margin of
34.6% and EBIT margin of25.0% , in line with full year targets - Net profit of
Euro 251 million and diluted EPS atEuro 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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