Ferrari, revenues and profits grow: 'No impact from tariffs'
The Cavallino closed the quarter with revenues of 1.787 billion and net profit of 425 million. The share price falls at Piazza Affari after the accounts
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2' min read
Ferrari closed the second quarter with net revenues of 1.787 billion, up 4.4% year-on-year, and 3,494 deliveries (ten more). Operating profit was €552 million, up 8.1% year-on-year, with an operating profit margin of 30.9%, net profit was €425 million (+3%) and diluted earnings per share were €2.38. The share price turned negative after the publication of the results.
Risk removed
.Ferrari confirms 2025 guidance on which it says it has "further confidence" following the publication of its accounts for the first six months of the year. In addition, the company specifies that the risk of a 50 basis point reduction in margins - highlighted on 27 March, 2025 following the introduction of higher import tariffs on cars, parts and other goods coming from the EU and imported into the US - has been removed following the recent agreement on lower levels reached between the US and the EU, and the expectation of lower industrial costs in the second half of the year compared to initial expectations.
Guidance confirmed
The guidance for 2025 confirmed forecasts revenues above EUR 7 billion, with growth of at least 5% over 2024. Adjusted Ebitda is expected to be at or above EUR 2.68 billion, with 5% growth and a margin of at least 38.3%. Adjusted Ebit is expected to be at least 2.03 billion, with growth of at least 7% and a margin of at least 29%. Adjusted diluted earnings per share are estimated to be at least EUR 8.6bn (+2%), with industrial free cash flow of at least EUR 1.2bn (+17%).
Vigna: "Solid results"
."The first half of 2025 reminded us once again of the importance of agility and flexibility in the management of our company. The solid results reported today reflect our commitment to execute our strategy with discipline and determination. We continue to foster innovation and enrich our product offering, which fuels an already strong order book. Testimony to this is the exceptional demand for the 296 Speciale family and the excellent feedback on the recent launch of the Ferrari Amalfi, the new coupé that redefines the concept of the contemporary gran turismo". This was stated by Benedetto Vigna, Ferrari's CEO, on the occasion of the publication of the half-year accounts.
