Ferrari N.V. announces its consolidated preliminary results for 2022
Net revenues for 2022 were Euro 5,095 million, up 19.3% or 15.5% at constant currency.
Revenues from Cars and spare parts were Euro 4,341 million (up 21.5% or 17.8% at constant currency), thanks to higher volumes and the contribution from personalizations.
The decrease in Engines revenues (Euro 155 million, down 18.0%, also at constant currency was attributable to lower shipments to Maserati, as the 2023 contract expiration gets closer.
Sponsorship, commercial and brand revenues reached Euro 479 million, up 11.1% or 6.5% at constant currency mainly attributable to the better prior year Formula 1 ranking and the contribution from lifestyle activities, partially offset by lower sponsorship.
Other revenues increased to Euro 120 million (up 54.2% or 44.4% at constant currency mainly due to other supporting activities. 2022 EBITDA(1) reached Euro 1,773 million, up 15.8% versus the prior year and with an EBITDA(1) margin of 34.8%.
2022 EBIT was Euro 1,227 million, increased 14.1% versus the prior year and with an EBIT margin of 24.1%.
Volume was strongly positive (Euro 261 million), reflecting the shipments increase versus the prior year.
Shipments totaled 13,221 units in 2022, up 2,066 units or 18.5% versus the prior year.
The product portfolio in the year included nine internal combustion engine (ICE)([5]) models and three hybrid engine models, which represented 78% and 22% of total shipments, respectively.
The increase in shipments during the year was driven by the Ferrari Portofino M and the SF90 family, as well as the 296 GTB and the 812 Competizione, which were in the ramp up phase. Deliveries of the Ferrari Monza SP1 and SP2 were lower compared to the prior year and ended in Q1 2022. First few units of the Daytona SP3 commenced in Q4 2022.
All geographies positively contributed. EMEA(4) was up 8.5%, Americas(4) increased 21.8%, Mainland China, Hong Kong and Taiwan was up 72.6% and Rest of APAC(4) grew by 17.1%. The geographical allocation followed the pace of introduction of new models.
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