For Ferrari he continues in this too first quarter 2022 the positive trend seen during 2021 even if the Stock Exchange expected more and penalized the stock (-3,4% in mid-afternoon). According to data published today, the Prancing Horse as of March 31st delivered 3.251 cars, 480 more compared to the same period last year (17,3%).
I Net revenues amounted to 1.186 million euros, up 17,3% on the previous year with a EBITDA equal to 423 million euros, up by 12,5% compared to the previous year (margin equal to 35,6%). L'Net income settled at 239 million euro (+16%) and diluted earnings per share at 1,29 euro.
Excellent collection of advances on the Daytona SP3
“The year opened with excellent results and double-digit growth in the main financial indicators – commented the CEO Benedict Vigna – The first quarter is characterized by a record level of revenues, EBITDA e industrial free cash flow, the latter almost doubled to approximately 300 million euros, thanks in particular to the collection of advances on Daytona SP3. THE margini in the quarter they were in line with our guidance”.
Order backlog covers a large part of 2023
The product range for the quarter includes eight models with a internal combustion (ICE) and two models a hybrid engine, which accounted for 83% and 17% of total deliveries respectively.
“These results are supported by strong order taking” continues Vigna, “which continued vigorously in the first three months of the year: today the order backlog covers a large part of 2023 and the planned volumes for most of our models are already fully sold. Despite the many uncertainties of the geopolitical scenario that are marking 2022, I remain optimistic on the future prospects of the company”.
Ferrari Roma and the SF90 are the best sellers
In 2021, the company launched 4 new models, including the 296 GTB with the new V6 and electric motor, the third hybrid model after the road-going SF90 and Spider.
Quarter deliveries were driven by Ferrari roma and from SF90 family, together with the Portofino m. During the quarter, the first deliveries of the 812 Competizione. The deliveries of the Ferrari Monza SP1 and SP2 were fewer than the previous year and have reached the end of limited series production. The deliveries of 296 GTB they will start in the second quarter, according to schedule.
Quarterly deliveries reflected geographic allocation choices in response to port congestion experienced in the early months of the year. As a result, EMEA(4) increased by 19,5%, Americas(4) decreased by 12,8%, Mainland China, Hong Kong and Taiwan increased strongly by 46,9, 4%, in line with strong demand from Mainland China, and the Rest of APAC(55,6) region grew XNUMX%.
Next June 16 key date for plan presentation
Next 16 June will be the key date for the Maranello company, in which the Capital Markets Day with the presentation of the plan for the next few years, electrification path need carbon neutrality, looking to 2030, said the president of Ferrari, John Elkann at the shareholders' meeting on 13 April.
2022 guidance confirmed with some conditions
Ferrari has confirmed its 2022 guidance, provided that operations are not impacted by restrictions due to the pandemic from Covid-19 and based on some hypotheses: careful management of strong demand, enrichment of the model mix, more than compensated by the negative impact due to the end of life of the Ferrari Monza SP1 and SP2, start of production of the Ferrari Daytona SP3 and the Ferrari Purosangue in 2022 with start of deliveries in starting from 2023, revenues from Formula 1-related activities reflecting more diversified but overall lower sponsorships, partly offset by the better positioning in the championship of the previous year, increase in depreciation linked to the start of production of new models, generation of free cash industrial flow supported by receipt of Daytona SP3 advances, capital expenditures regulated, to support long-term development
Lindustrial debt as at 31 March 2022 decreased to 136 million euros, compared to 297 million at 31 December 2021. At 31 March 2022, total available liquidity amounted to 2.162 million euros (2.020 million at 31 December 2021), including credit lines unused commitments for 668 million euros. During the first quarter, the buyback of treasury shares amounted to a total of 135 million euro.
