Ferrari revs up for "even stronger 2023" after beating forecasts in Q4

Variety
02-02-2023 | 08:53
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
Ferrari revs up for "even stronger 2023" after beating forecasts in Q4
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
Ferrari revs up for "even stronger 2023" after beating forecasts in Q4

Ferrari (RACE.MI) said on Thursday it saw "even stronger" results this year after posting a 16 percent increase in its core earnings in 2022, supported by increased sales volumes of its luxury sports cars.

Ferrari said its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) would come in between 2.13-2.18 billion euros in 2023, from an above-guidance result of 1.773 billion last year.
 
Milan-listed shares in the company extended gains after results were published. By 1145 GMT they were up 1.8 percent,

In the fourth quarter, adjusted EBITDA rose 18 percent to 469 million euros ($516 million).

"These figures provide the base for an even stronger 2023, fueled by a persistently high demand for our products worldwide," said Benedetto Vigna, Ferrari CEO.

An increase in vehicle 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.
 
"Ferrari reported a strong performance with attractive profit margins and one of the most significant volume increases over the last 10-12 years," said Third Bridge analyst Orwa Mohamad, adding the new Purosangue four-seater will increase Ferrari's customer base in 2023.

Deliveries of Ferrari's new 390,000 euro Purosangue are expected to start in the second quarter of this year. The company has said orders for it had outstripped even its most ambitious expectations.
 

Ferrari

Sports Car

Vehicle

Stronger

Year

Results

Increase

Core

Earnings

Luxury

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
World News
2026-03-31

France 'surprised' by Trump criticism

LBCI
Middle East News
2026-03-08

Iran’s parliament speaker: Tehran not seeking ceasefire, aggressors must be punished

LBCI
World News
2026-04-11

Pakistan says hopes Iran, US will 'engage constructively' after Vance's arrival

LBCI
World News
2026-01-16

Denmark says US acquisition of Greenland 'out of the question'

Videos
d-none hideMe
LBCI
World News
2026-03-25

Iran uses cluster bombs to target Israel: AiTelly explains what happens when a missile is intercepted—Video

LBCI
Lebanon News
2026-03-08

At least 19 killed after strike destroys three-story building in Sir el-Gharbiyeh: Video

LBCI
Lebanon News
2026-03-06

Israeli airstrike targets Beirut’s southern suburbs: Video

LBCI
Lebanon News
2026-03-05

Intense consecutive airstrikes hit Beirut’s southern suburbs: Video

LBCI
Lebanon News
2026-03-05

Israeli army launches evening airstrikes on Beirut’s southern suburbs after evacuation warning

LBCI
Lebanon News
2026-03-02

Smoke rises over Beirut’s southern suburbs as Israel targets area: Video

LBCI
Lebanon News
2026-02-16

German President Steinmeier meets Lebanon's President Aoun at Baabda Palace—Video

LBCI
Lebanon News
2026-02-14

Future Movement supporters mark Rafic Hariri anniversary, call for Saad Hariri's return to politics

LBCI
Lebanon News
2026-02-01

Israel strikes vehicle in Doueir-Wadi Aaba in South Lebanon—Video

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
Lebanon News
04:02

Clashes erupt in Bint Jbeil neighborhoods amid infiltration attempts

LBCI
Lebanon News
06:30

Pope says he is 'closer than ever' to Lebanese people

LBCI
Middle East News
06:21

LBCI correspondent Amal Shehadeh: Israeli Army Chief orders air force to prepare for possible renewal of war with Iran

LBCI
News Bulletin Reports
13:00

Concerns grow over potential internal unrest in Lebanon amid rising tensions: The details

LBCI
Middle East News
09:05

Trump: No breakthrough in Iran talks as Tehran holds firm on nuclear program

LBCI
World News
08:43

Vance makes brief stop in Ramstein after Iran talks

LBCI
News Bulletin Reports
13:06

Israel intensifies operations in southern Lebanon ahead of planned Washington talks

LBCI
World News
00:59

Vance says talks failed to reach deal with Iran on ending Mideast war

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More