Ferrari achieved a profit exceeding one billion euros in 2023
The Italian brand released its financial results for the year 2023 this Thursday, February 1st. Ferrari recorded a profit exceeding one billion euros, and Ferrari NV's stocks increased by over 6%.
As announced yesterday, on Thursday, February 1st, the shocking arrival of Lewis Hamilton at the Scuderia Ferrari for 2025 has caused the Italian brand’s stock to soar. But before this announcement, Ferrari was already doing well: the prancing horse brand released its financial results for the year 2023 on the same day, and they are staggering.
Ferrari announced that it has crossed the billion euros mark in profits for the year 2023, and Ferrari NV’s shares increased over 6% during Thursday’s pre-market session following this results announcement. 2023 has been a highly successful year in which we have strengthened our brand through various achievements reflected in our unparalleled financial results, said Benedetto Vigna, CEO of Ferrari.
« For the first time, our net profit, up 34%, has exceeded one billion euros and the annual EBITDA margin reached 38.2%, he added. « We now have a very important year ahead of us for the execution of our business plan, which is continuing on its carefully planned path. The record results of 2023, the ambitions we have for 2024, as well as the exceptional visibility on our order book, allow us to consider the ambitious objectives of 2026 with strengthened confidence. »
In its report, Ferrari announced that sales « reached 13,663 units in 2023, representing an increase of 3.3% compared to the previous year, fueling a very strong order book. »
The increase in deliveries during the year was driven by the Purosangue, which was gaining momentum in the second half of the year, as well as larger deliveries of the 296 and SF90 families. This, concludes the report on the best-selling vehicles in 2023 by the Italian brand.
