Ferrari enjoyed a strong campaign in F1 last year, but the company also demonstrated its prowess once again in the luxury automotive industry, surpassing all expectations with its 2024 financial performance.
The company reported net revenues of €6.67 billion, marking an 11.8% increase from the previous year. Net profit also saw a significant rise, reaching €1.53 billion – a 21% uptick compared to 2023.
Furthermore, the House of Maranello also recorded €600 million in ‘sponsorship, commercial and brand’ which includes the revenue from the Scuderia, an 18% boost compared to 2023.
In recognition of these stellar results, Ferrari has rewarded each of its 5,000 employees with a bonus of €14,400, an increase from the €13,500 distributed in 2023!
CEO Benedetto Vigna attributed this success to a strong product mix and the growing demand for personalized features.
He emphasized the company’s focus on “quality of revenue over volumes” and highlighted the significant role of personalizations in driving profitability.
New Models and an Electric First
Looking ahead, Ferrari plans to launch six new models in 2025, including its first fully electric vehicle.
“We are not leaving something to replace it with another, but we are adding the fully electric traction car to the thermal and hybrid ones. We are proceeding as planned,” Vigna stated.
Ferrari 296 GTB
The company’s impressive financial performance has also been reflected in its stock market presence.
Ferrari’s share price reached a new record on the New York Stock Exchange on Tuesday, underscoring investor confidence in the brand’s strategic direction and market position.
A Legacy of Excellence
In summary, Ferrari’s 2024 achievements underscore its unwavering commitment to excellence, innovation, and the satisfaction of its discerning clientele.
As the company accelerates into 2025 with ambitious plans and a dedicated workforce, it continues to set the benchmark in the luxury automotive sector.
And of course, the excitement at Ferrari extends beyond the financial reports, with Lewis Hamilton bringing his championship pedigree to the Scuderia to hopefully elevate the team’s own performance to new heights.
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