Ferrari has closed the 2023 season really positive with record results in commercial and financial terms what is the general director for? Benedetto Vigna expressed great satisfaction.
2023 was a very successful year during which we strengthened our brand through a number of important decisions that were reflected in our unprecedented financial results. For the first time, our net profit, up 34%, exceeded one billion euros and our annual EBITDA margin rose to 38.2%. We now have a very important year ahead of us in the execution of our industrial plan, which continues punctually along the carefully planned path. Record results for 2023, our ambitions for 2024 and exceptional visibility in our order book allow us to look forward to our highest targets for 2026 with greater confidence.
Let’s start with suppliesyou will achieve a total of 13,663 units in 2023, which is 442 vehicles or 3.3% more than in the previous year. For the year, EMEA reported growth of 1.8%, the Americas increased by 10.6%, mainland China, Hong Kong and Taiwan reported a decrease of 62 units, and the rest of the APAC region remained largely unchanged.
This overall result was made possible primarily by the contribution of Purosangue and the increased supply of the 296 and SF90 families. The first deliveries of the Roma Spider began in the fourth quarter. Deliveries of the F8 family were completed within a year, bringing the Portofino M to the end of its life cycle. Deliveries of the special edition have also increased thanks to the 812 Competizione family. The Daytona SP3 deployment continued as planned.
To date, the Maranello range consists of eleven combustion engine models and four hybrid models, which accounted for 56% and 44% of total deliveries respectively.
If we talk in more detail about the financial results, then in 2023 I net revenue amounted to 5.970 million euros., an increase of 17.2%. The largest share comes from vehicles and spare parts (€5,119 million), up 18.5%, thanks to a richer product and geographic range, as well as a greater contribution from individualization, higher volumes and higher prices.
Ferrari then recorded an increase in sponsorship, commercial and brand-related revenues to €572 million, +14.6%. The result is mainly due to new sponsorships, increased commercial revenues and better positioning in the 2022 Formula 1 Championship compared to 2021, as well as the contribution of lifestyle. Motors’ revenue decline (€127 million, -18.4%) was due to lower deliveries to Maserati, whose contract expired at the end of 2023.
Operating margin it reached 2.279 million euros, an increase of 28.5% compared to the previous year. Operating profit, however, reached 1,617 million euros, an increase of 31.8% compared to 2022. Net profit for the 2023 financial year was 1,257 million euros, an increase of 33.9% compared to the previous year, and earnings per share were 6.90 euros, compared to 5.09 euros in 2022.
Cash generation with flows increasing from 758 million to 932 million, despite investments of 869 million, while net industrial debt at 31 December 2023 was 99 million euros, compared to 207 million euros at 31 December 2022. As at 31 December 2023, the total liquidity available was EUR 1.722 million.
Source: HD Motori
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