Ferrari's Q1 revenue up by 20.5% to €1.4 billion
Ferrari S.p.A. announced on Thursday its revenue in the first quarter of the fiscal year 2023 observed an annual rise of 20.5% to come in at €1.4 billion. The carmaker's net revenue went up by 24% year-on-year to hit €297 million. Its diluted earnings per share (EPS) jumped by 26% compared to the first trimester of 2022 to reach €1.62 per share. Meanwhile, its earnings before interest, taxes, depreciation and amortization (EBITDA) advanced by 27% to €537 million. Lastly, Ferrari's shipments grew by 10% on an annual basis to 3,567 units.
"Another exceptional quarter for Ferrari. ... Our order book already extends into 2025 with an award-winning product portfolio. ... We are on track with our electrification journey on the development of both sports cars and infrastructures in Maranello," Chief Executive Officer (CEO) Benedetto Vigna said.
Ferrari's shares gained 3.49% in premarket trading following the release of the results.