Strong Momentum Sets the Foundation for Future Growth. 2022 Guidance on the Trajectory to Reach 2023 Ebitda Target

Rhea-AI Summary

Ferrari N.V. (RACE) announced its strong preliminary financial results for FY 2021, showcasing total shipments of 11,155 units, marking a 22.3% increase from 2020. Net revenues reached Euro 4,271 million, up 23.4% year-over-year, with EBITDA climbing to Euro 1,531 million, reflecting a 34.0% growth. The EBIT stood at Euro 1,075 million, a 50.2% increase, while net profit was Euro 833 million with a diluted EPS of Euro 4.50. The company emphasized robust cash flow generation of Euro 642 million and expressed confidence in future growth strategies.

Positive

• Total shipments increased by 22.3% to 11,155 units.
• Net revenues rose 23.4% to Euro 4,271 million.
• EBITDA improved by 34.0% to Euro 1,531 million, with a record margin of 35.9%.
• EBIT increased 50.2% to Euro 1,075 million.
• Net profit reached Euro 833 million with diluted EPS of Euro 4.50.
• Strong industrial free cash flow generation of Euro 642 million.

Negative

• None.

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Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results⁽¹⁾ for the fourth quarter and twelve months ended December 31, 2021.

• • • • Total shipments of 11,155 units, up 22.3% versus FY 2020 and 10.1% versus FY 2019
• Net revenues of Euro 4,271 million, up 23.4% versus prior year and up 13.4% versus FY 2019
• EBITDA of Euro 1,531 million, up 34.0% versus prior year and up 20.6% versus FY 2019.
  EBITDA margin of 35.9% in FY 2021.
• EBIT of Euro 1,075 million, up 50.2% versus prior year and up 17.2% versus FY 2019.
  EBIT margin of 25.2% in FY 2021.
• Net profit of Euro 833 million and diluted EPS at Euro 4.50
• Robust industrial free cash flow generation of Euro 642 million

“Our record 2021 financial results demonstrate once more the strength of our business model. We carefully managed an impressive order intake in line with our strategy to pursue controlled growth and preserve brand exclusivity” – the CEO Benedetto Vigna commented – “We recorded double-digit growth across all main financial indicators exceeding our guidance, and an even more exceptional EBITDA margin at a record level of 35.9%. Building on strong momentum, we are eager to seize the opportunities ahead and look forward to sharing our future plans on June 16 in Maranello at our Capital Markets Day”.

¹      These results have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board and IFRS as endorsed by the European Union

Attachment

• 2022_02_02 - Ferrari FY 2021 Results Press Release

FAQ

What were Ferrari's total shipments in FY 2021?

Ferrari reported total shipments of 11,155 units in FY 2021, a 22.3% increase over FY 2020.

What was Ferrari's net revenue for FY 2021?

Ferrari's net revenue for FY 2021 was Euro 4,271 million, up 23.4% compared to the prior year.

How much did Ferrari's EBITDA grow in FY 2021?

Ferrari's EBITDA increased by 34.0% to Euro 1,531 million for FY 2021.

What was Ferrari's net profit and diluted EPS for FY 2021?

Ferrari reported a net profit of Euro 833 million with a diluted EPS of Euro 4.50 for FY 2021.

What is the significance of Ferrari's EBITDA margin for FY 2021?

Ferrari achieved a record EBITDA margin of 35.9% in FY 2021, reflecting strong financial performance.