Ferrari Portofino MFerrari Portofino M


Ferrari posts record profit for quarter as personalisations drive more sales

  • Supercar manufacturer shifts 3,455 vehicles in three months – a rise of almost 30 per cent
  • Net profit rises by 22 per cent to £210m
  • Revenue increases by 25 per cent to more than £1bn

Time 7:57 am, August 3, 2022

Personalisations helped push Ferrari to record profits after increased sales for its second quarter saw its net profit rise by 22 per cent to €251m (£210m).

Between April and June, it shifted 3,455 vehicles – an increase of 770 units, or 29 per cent – on 2021, taking its revenues up by 25 per cent to €1.291bn (£1.08bn).

EBITDA for the quarter was up 15.5 per cent versus last year at €446m (£373m).

As part of the total income figure, revenues from cars and spare parts were €1.1bn (£910,000m) – up 25 per cent, thanks to higher volumes and the contribution from personalisations, said the Maranello-based supercar manufacturer.

‘Ferrari continues a phase of strong growth, with quarterly record results,’ said CEO Benedetto Vigna.

Benedetto Vigna, via Ferrari press office

Ferrari is continuing a strong phase of growth, says CEO Benedetto Vigna

He added that ‘the robustness of our business allows us to revise upward the 2022 guidance on all metrics. Also the net order intake reached a new record level in the quarter’.

Ferrari said its product portfolio during the quarter included seven internal combustion engine models and three hybrid engine models, which represented 83 per cent and 17 per cent of total shipments, respectively.

The rise in shipments during the quarter was driven by the Ferrari Portofino M, pictured at top, and the F8 family.

The first deliveries of the 296 GTB were made and the 812 Competizione was in ramp-up phase.

Meanwhile, the Ferrari Monza SP1 and SP2 reached the end of their limited-series run.

Ferrari is now expected to make an increased profit of €1.165bn (£978m) on €4.9bn (£4.1bn) revenue this year, while production is predicted by analysts to top 13,000 vehicles, according to The Times.

John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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