Ferrari has released its 2019 financial results, and the Prancing Horse managed to deliver 10,131 vehicles in that time, which was 9.5 percent more than in 2018. It was the first year in the automaker's history for it to ship over 10,000 cars. The strong numbers gave the company a net revenue of 3.766 billion euros ($4.156 billion at current exchange rates), which was up 10.1 percent year-over-year.
Gallery: Ferrari Roma
The EMEA (Europe, Middle East, and Africa) region was Ferrari's largest area in terms of volume with 4,895 deliveries – up 16 percent from 2018. The company sent 2,900 cars to the Americas – down 3 percent. Ferrari shipped 836 cars to Mainland China, Hong Kong, and Taiwan, which is a 20 percent boost. Finally, 1500 vehicles went to the rest of the Asia-Pacific region – up 13 percent.
Among its models, Ferrari saw an 11.2 percent increase in sales of its V8-powered vehicles. The V12 models had a 4.6 percent increase in demand.
Ferrari made 2.926 billion euros ($3.23 billion) in 2019 from selling cars. However, the company's second-largest income-generating sector was from sponsorship and branding, which brought in 538 million euros ($594 million). This was up 4 percent over last year.
Ferrari was busy in 2019 because of five new models to launch. It plans to introduce fewer products in 2020. So far, we don't know what they are, though. The Purosangue, the brand's upcoming crossover, joins the range in 2021, and the company has high hopes for its success. In addition, there's reportedly a new hypercar coming after 2022.
2019 performance confirms strong momentum 2020 guidance upgrading previous plan across all metrics
04 FEB 2020
Total shipments of 10,131 units, up +9.5%
Net revenues of Euro 3,766 million, up +10.1% or +8.2% at constant currency(1)
Adj. EBITDA(2) of Euro 1,269 million, up +14.0% with an Adj. EBITDA margin of 33.7%
Adj. diluted EPS(2) of Euro 3.71 (+9.1%)
Industrial free cash flow(2) generation of Euro 675 million boosted by advances on the Ferrari Monza SP1 and SP2
(1)The constant currency presentation eliminates the effects of changes in foreign currency (transaction and translation) and of foreign currency hedges
(2)Refer to specific note on non-GAAP financial measures
(3)Net Profit and Adj. net profit for the three months ended December 31, 2018 reflected an income tax benefit of Euro 4 million as the result of the final determination of the tax rate for the year