MILAN — Ferrari shipped a history selection of cars past calendar year as need for luxury autos surged globally despite the COVID-19 pandemic and the sports activities carmaker predicted an increase in its core earnings for 2022.
Shipments grew 22 % to 11,155 vehicles last yr when compared to 2020 all through the very first COVID lockdowns, and have been up 10 percent on pre-pandemic 2019, the company mentioned.
All regions noticed double-digit development, supported by robust gross sales of 8-cylinder designs, together with the F8 family as effectively as the Roma grand tourer and the hybrid SF90 Stradale. Shipments of a lot more potent but also additional polluting 12-cylinder products fell.
Shipments to China, Hong Kong and Taiwan pretty much doubled versus the earlier calendar year.
CEO Benedetto Vigna reported Ferrari has orders stretching into 2023. “We have the strongest-at any time get e-book in our historical past, up double digits as opposed to the prior calendar year and covering effectively into 2023,” Vigna explained to analysts all through an earnings contact on Wednesday.
Vigna, a tech field veteran and previous major govt at chip maker STMicroelectronics, took demand of the automaker final September with a process to guide it into a new period of cleaner, quieter and interconnected mobility.
He said that Ferrari would make technological know-how partnerships a precedence, as the company moves ahead with its electrification tactic though sustaining economical discipline.
Ferrari has promised its initial all-electric auto in 2025, whilst it has now rolled out 3 hybrid versions. The enterprise ideas two new products this yr, including the Purosangue, its initially SUV.
Vigna will unveil Ferrari’s potential tactic at a money markets day on June 16.
In an earnings assertion on Wednesday Ferrari guided for altered earnings in advance of interest, tax, depreciation and amortization (EBITDA) of 1.65 billion to 1.70 billion euros this year, up from 1.53 billion euros ($1.73 billion) in 2021.
Last year’s consequence was in line with a enterprise-furnished forecast of around 1.52 billion euros, and represented a 34 per cent enhance on the past 12 months.
Margin on adjusted EBITDA strike a greater-than-expected report of 35.9 % previous year. The figure is expected to slip this calendar year to between 34.5 per cent and 35.5 p.c, the enterprise said.
Next this potent set of final results, the enterprise paid out all its staff members a document general performance-connected reward for 2021 of a gross quantity as considerably as 12,000 euros
In a indicator of a strong demand from customers worldwide for luxury automobiles, Rolls-Royce claimed its sales soared 49 % in 2021, to a history significant of 5,586 cars.
In the same way Porsche shipped more than 300,000 cars previous 12 months, a document for the brand name, with an enhance in all regions, especially the U.S. while China grew to become its largest one market place.
Nonetheless, Ferrari and other rivals in the significant-effectiveness sports vehicle industry, which consist of Lamborghini, Aston Martin and McLaren, are wrestling with how to shift to battery electrical power without the need of dropping the large overall performance that supports their high quality pricing.