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Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results for the first quarter ended March 31, 2022.
Total shipments of 3,251 units, up 17.3% versus Q1 2021
Net revenues of Euro 1,186 million, up 17.3% versus prior year
EBITDA of Euro 423 million, up 12.5% versus prior year. EBITDA margin of 35.6%.
EBIT of Euro 307 million, up 15.4% versus prior year. EBIT margin of 25.9%.
Net profit of Euro 239 million and diluted EPS at Euro 1.29
Exceptional industrial free cash flow generation of Euro 299 million
“In the start of the year we recorded excellent results, with a double-digit growth on the main financial indicators. The first quarter was characterized by a record level of revenues, EBITDA and industrial free cash flow, which almost doubled to approximately Euro 300 million thanks in particular to the collection of advances on the Daytona SP3. Margins in the quarter were in line with our guidance”, stated the CEO of Ferrari, Benedetto Vigna. “These results were sustained by a strong net order intake, which continued firmly over the first three months of the year: today the order book already covers well into 2023 and most of our models are sold out. Despite 2022 has been marked by several uncertainties in the geopolitical scenario, I therefore remain optimistic about the future prospect of the Company that we will present soon at the Capital Markets Day”.