Ferrari has announced another quarter with substantial improvement across key financial metrics. The Prancing Horse automaker has increased global sales, net operating profit, and overall profits, all of which have grown by double-digit figures despite a context of deep economic and commercial uncertainty.
Ferrari concludes another quarter with significant improvement
The first quarter of the year shows that Ferrari delivered 3,593 vehicles, representing a 0.9% increase compared to the same quarter last year. With a complete and varied product lineup, a geographically broad and widespread presence, and growing demand for customizations, Ferrari has achieved a revenue increase of 13% compared to the first three months of last year, or 12.2% at constant exchange rates.
The economic data shows that first-quarter revenues amounted to 1.791 billion euros ($2.025 billion), of which 1.536 billion euros ($1.737 billion) came from the sale of new cars and spare parts: the latter growing by 11.1%. Another 191 million euros ($216 million) derived from sponsorships, commercial proceeds, and brand licensing, showing a percentage increase of 32.1% compared to the first quarter of 2024.
Ferrari also reported that EBITDA grew by 14.6% to 693 million euros ($784 million), while operating profit reached 542 million euros ($613 million), a 22.7% increase compared to the same quarter last year. This improves the revenue margin from 27.9% to 30.3%. Net profit also increased to 412 million euros ($466 million), up 17%, with earnings per share (EPS) rising from 1.95 euros ($2.20) to 2.30 euros ($2.60).
The cash generation from industrial activities is also noteworthy, with flows of 620 million euros ($701 million) almost doubling the 321 million euros ($363 million) recorded last year. This occurred despite investments increasing from 195 million ($220 million) to 224 million euros ($253 million). Net debt decreased from 180 million euros ($203 million) recorded at the end of 2024 to the current 49 million euros ($55 million), while liquidity rose from 2.292 billion ($2.592 billion) to 2.465 billion euros ($2.787 billion).
In this context, Ferrari can confirm its financial estimates for the entire year 2025, based on the solid performance registered during the first three months of this year. According to these forecasts, year-end revenues should exceed 7 billion euros ($7.916 billion), while EBITDA should reach at least 2.68 billion euros ($3.031 billion). Similarly, operating profit should equal or exceed 2.03 billion euros ($2.296 billion), with earnings per share of 8.60 euros ($9.73) and cash flows around 1.2 billion euros ($1.357 billion).
Benedetto Vigna, CEO of Ferrari, expressed his satisfaction, adding that “it was another great start to the year.” Indeed, all values show growth with double-digit figures, thanks to a strategy “that focuses on revenue quality rather than volumes,” Vigna further added. Meanwhile, this year will see a total of six new models, including the recent Ferrari 296 Speciale and 296 Speciale A, as well as the highly anticipated first electric Ferrari, which appears set to fully debut only in 2026, with a presentation divided into three phases.
