The earnings call presented a positive outlook with record financial results and strong product launches, despite some challenges in the China market and supply chain issues. The company's strategic focus on sustainability and a robust order book further enhance confidence in future growth.

Company Guidance

During the February 2024 Full Year Results Conference Call, Ferrari provided guidance for 2025, highlighting several key metrics and strategic directions. The company achieved record revenues of approximately €6.7 billion in 2024, with double-digit growth in both revenues and profitability, including a net profit of €1.5 billion and an EBITDA margin of 38.3%. Industrial free cash flow surpassed €1 billion for the first time. Looking ahead to 2025, Ferrari plans to launch six new models, maintain strong personalization demand, and grow its lifestyle segment. The company also aims to reduce its Scope 1 and Scope 2 emissions by a factor of three compared to 2021, aligning with its carbon neutrality goal by 2030. Despite macroeconomic uncertainties, Ferrari's robust order book extends through 2026, supported by strong demand for the 12Cilindri Coupe and Spider models. The guidance reflects confidence in Ferrari's unique business model, with the first half of 2025 expected to be stronger than the second half due to product mix dynamics. The effective tax rate is anticipated to rise to around 22.5%, while CapEx is projected to be around €900 million, indicating continued investment in infrastructure and innovation.

Record Financial Performance

Ferrari achieved record full year figures across all metrics in 2024, including revenues of approximately €6.7 billion, representing double-digit growth. Net profit reached €1.5 billion, with a diluted EPS of €8.46, up 22.6% from the previous year.

Product Launch Success

The launch of the supercar F80, along with the 12Cilindri Coupe and Spider, has been successful, with the F80 already fully allocated. The F80 incorporates a powerful V6 hybrid powertrain derived from the 499P, showcasing significant technology transfer from racing.

Strong Order Book

Ferrari's order book covers orders until 2026, with a healthy demand for new models including the 12Cilindri Coupe and Spider. The loyalty of clients remains strong, with 81% of new cars sold to existing Ferrari clients.

Sustainability Advancements

Ferrari made significant progress towards its carbon neutrality goal, expecting to reduce Scope 1 and Scope 2 emissions by a factor of 3 from the 2021 base year, and successfully shutting down a trigeneration plant ahead of schedule.

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Ferrari (DE:2FE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:2FE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 06, 2025	2025 (Q1)	2.30 / -	1.95	―	―	―
Feb 04, 2025	2024 (Q4)	1.87 / 2.14	1.62	32.10% (+0.52)
Nov 05, 2024	2024 (Q3)	1.99 / 2.08	1.82	14.29% (+0.26)
Aug 01, 2024	2024 (Q2)	2.04 / 2.29	1.83	25.14% (+0.46)
May 07, 2024	2024 (Q1)	1.87 / 1.95	1.62	20.37% (+0.33)
Feb 01, 2024	2023 (Q4)	1.48 / 1.62	1.21	33.88% (+0.41)
Nov 02, 2023	2023 (Q3)	1.61 / 1.82	1.23	47.97% (+0.59)
Aug 02, 2023	2023 (Q2)	1.73 / 1.83	1.36	34.56% (+0.47)
May 04, 2023	2023 (Q1)	1.48 / 1.62	1.29	25.58% (+0.33)
Feb 02, 2023	2022 (Q4)	1.20 / 1.21	1.16	4.31% (+0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:2FE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 04, 2025	€415.60	€448.60	+7.94%
Nov 05, 2024	€438.60	€407.30	-7.14%
Aug 01, 2024	€381.10	€390.00	+2.34%
May 07, 2024	€396.80	€378.90	-4.51%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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