Strong Momentum Sets the Foundation for Future Growth. 2022 Guidance on the Trajectory to Reach 2023 Ebitda Target
Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results(1) for the fourth quarter and twelve months ended December 31, 2021.
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- Total shipments of 11,155 units, up 22.3% versus FY 2020 and 10.1% versus FY 2019
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- Net revenues of Euro 4,271 million, up 23.4% versus prior year and up 13.4% versus FY 2019
- EBITDA of Euro 1,531 million, up 34.0% versus prior year and up 20.6% versus FY 2019. EBITDA margin of 35.9% in FY 2021.
- EBIT of Euro 1,075 million, up 50.2% versus prior year and up 17.2% versus FY 2019. EBIT margin of 25.2% in FY 2021.
- Net profit of Euro 833 million and diluted EPS at Euro 4.50
- Robust industrial free cash flow generation of Euro 642 million
“Our record 2021 financial results demonstrate once more the strength of our business model. We carefully managed an impressive order intake in line with our strategy to pursue controlled growth and preserve brand exclusivity” – the CEO Benedetto Vigna commented – “We recorded double-digit growth across all main financial indicators exceeding our guidance, and an even more exceptional EBITDA margin at a record level of 35.9%. Building on strong momentum, we are eager to seize the opportunities ahead and look forward to sharing our future plans on June 16 in Maranello at our Capital Markets Day”.
1 These results have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board and IFRS as endorsed by the European Union
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