Luxury sports car manufacturer Ferrari is confident in its continued growth in revenue and core earnings. The positive outlook is supported by a robust order book that extends through 2025, which has driven the company’s shares to increase as much as 9.5% and brought its market value closer to a record $100 billion mark.
Ferrari is set to enter a new era by launching its first fully electric car in the final quarter of next year. The Italian company’s 2023 results were in line with its targets, with a forecast of adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increasing to at least 2.45 billion euros ($2.64 billion) this year, up from the 2.28 billion euros in 2023.
Investors can expect dividends and share buybacks this year, as Ferrari generated over 930 million euros in cash last year, of which around 800 million will be distributed to shareholders.
The order book has provided “exceptional visibility” for Ferrari, allowing the company to look at the high-end of its 2026 targets with stronger confidence, and the CEO has projected adjusted EBITDA of 2.5 billion-2.7 billion euros in 2026.
An exciting development for Ferrari’s Formula One racing team is the hiring of seven-time world champion Lewis Hamilton to race for them from 2025, a move that has captured media attention.
It’s worth noting that Ferrari’s shipments rose by 3% last year, reaching 13,663 vehicles, mainly driven by the ramp-up phase of its Purosangue model. Additionally, personalization rates were a significant contribution to the company’s total revenue last year, accounting for around 19%. This is an aspect that investors should keep an eye on as it may contribute to future earnings.
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