By Ferrari has reported sales of 5.97 billion euros for the 2023 financial year, up 17%, and net profit up 34% to 1.26 billion euros, on sales volume up 3.3%.
These results were driven by solid performances in America and China, by the warm welcome given to the Purosangue, its first SUV, and to the sporty 296, but above all by the success of customizable models. Custom paintwork, features and accessories, priced at several thousand euros, enabled the brand to raise the average selling price of its vehicles to 397,000 euros, an all-time record.
The automaker also delighted its investors by announcing a tempting outlook: it is targeting sales of $6.4 billion in 2024, backed by a solid order book. At the time of writing, the stock has gained nearly 13% since the start of the year, and over 78% since the beginning of 2023.
Hamilton, a new turbo boost?
Formula 1 is Ferrari's second-largest source of revenue, generating almost 500 million euros in 2022, and 572 million in 2023, up 14.6% or 12.6% at constant exchange rates. Above all, the group's contracts and successes on the circuit already give it around a fifth of the F1 industry's total revenues.
Hamilton is more than a driver, he's a brand in his own right. He is the most successful man in the history of Formula 1, the world record holder for wins, pole positions, podiums and career points. In addition to his prestigious aura and popularity, he could enable the Scuderia to steal Mercedes ' number 1 status on the racetrack. Boosted by the arrival of the British driver for the 2025 season, the Maranello-based group will also be able to boost its sponsorship contracts, merchandising sales and media presence.
On the stock market, the announcement of the champion's arrival at the Prancing Horse brand on February 1 also had a notable effect: global searches for Ferrari shares exploded by more than 2,700%, surpassing those of Mercedes for the first time since the Italian carmaker went public in October 2015. The stock also jumped more than 12% in 24 hours.
.png)
