{"id":4807,"date":"2024-11-08T00:00:00","date_gmt":"2024-11-08T00:00:00","guid":{"rendered":"https:\/\/superpdr.com\/ferraris-q3-adjusted-net-profit-up-13-year-on-year\/"},"modified":"2026-03-11T11:33:33","modified_gmt":"2026-03-11T03:33:33","slug":"ferraris-q3-adjusted-net-profit-up-13-year-on-year","status":"publish","type":"post","link":"https:\/\/superpdr.com\/ar\/news\/ferrari-s-q3-adjusted-net-profit-up-13-year-o-82243359.html","title":{"rendered":"Ferrari’s Q3 Adjusted Net Profit Up 13% Year-on-year"},"content":{"rendered":"
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\u00a0 \u00a0 \u00a0 \u00a0 On November 5, Italian luxury automaker Ferrari announced that in the third quarter of this year, its net revenue rose 6.5% year-on-year to 1.644 billion euros; adjusted EBITDA rose 10.3% year-on-year to 467 million U.S. dollars; adjusted EBITDA margin was as high as 28.4%, higher than that of the same period of the year-ago period of 27.4%; and adjusted net profit rose 13% year-on-year to 375 million U.S. dollars; Adjusted EBITDA rose 7 percent year-on-year to 638 million euros, slightly higher than analysts’ expectations.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 However, in the third quarter of this year, Ferrari’s total car shipments fell 2% year-on-year, which disappointed investors who had expected Ferrari to show more resilience in the recent weak auto industry environment. The drop was mainly attributed to a 29 percent year-on-year decline in Ferrari’s deliveries in China, where the company’s market share is smaller than that of rivals such as Porsche.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 \u00a0Ferrari’s shares fell after the aforementioned earnings report, dropping as much as 7.2 percent, its biggest one-day drop since May 2021. However, Ferrari has less exposure to the Chinese market than other luxury automakers. Ferrari shares have still risen by about a third so far this year, outperforming rivals whose global sales have declined more significantly.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 Premium automakers such as Mercedes-Benz Group, BMW Group and Volkswagen Group’s Porsche are all dealing with declining sales in China. Luxury automakers have issued a series of profit warnings as demand for high-end models in China has slowed.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 Citi analysts, including Harald Hendrikse, said in a report that Ferrari’s performance in the third quarter of this year was “solid, but not spectacular,” with a slight slowdown in revenue growth. Ferrari also hasn’t yet faced broader demand issues, the analysts said, after it confirmed its full-year financial expectations.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 Michael Dean, an analyst at Bloomberg Intelligence, said in a report that Ferrari’s results “underscore our positive outlook for super-luxury cars, which remains intact despite a slight shortfall in the company’s deliveries.”<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 Ferrari Chief Executive Benedetto Vigna is committed to keeping Ferrari’s lineup unique, relying on customization to boost profits. Last month, the company unveiled a \u20ac3.6 million supercar, one of its most expensive models ever.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0 Benedetto Vigna said more buyers are now willing to add customization to their cars and that pre-orders from China are already lined up for about five quarters.<\/p>\n

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\u00a0 \u00a0 \u00a0 \u00a0Benedetto Vigna is a former executive at chipmaker STMicroelectronics NV. He is now pushing Ferrari to produce more electric cars. In September, he said Ferrari was on track to launch the brand’s first all-electric supercar, which is expected to go on sale in the fourth quarter of next year.<\/p>\n<\/article>","protected":false},"excerpt":{"rendered":"

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 On November 5, Italian luxury automaker Ferrari announced that in the third quarter of this year, its net revenue rose 6.5% year-on-year to 1.644 billion euros; adjusted EBITDA rose 10.3% year-on-year to 467 million U.S. dollars; adjusted EBITDA margin was as high as 28.4%, higher than that of […]<\/p>\n","protected":false},"author":1,"featured_media":4808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newslist-136510-1"],"acf":[],"_links":{"self":[{"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/posts\/4807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/comments?post=4807"}],"version-history":[{"count":1,"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/posts\/4807\/revisions"}],"predecessor-version":[{"id":9217,"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/posts\/4807\/revisions\/9217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/media\/4808"}],"wp:attachment":[{"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/media?parent=4807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/categories?post=4807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/superpdr.com\/ar\/wp-json\/wp\/v2\/tags?post=4807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}