On the Milan Stock Exchange, Ferrari is now valued at more than R1 trillion making it more valuable than its previous parent company, Stellantis.
Stellantis is an umbrella corporation, which in its stables houses monikers such as Alfa Romeo, Citroen, Jeep and Maserati, to name a few. Before 2015, Ferrari was amongst many names overseen by Stellantis. After its exodus from the conglomerate’s stables, Ferrari’s shares were traded on the New York and Milan stock exchanges where its stock was initially traded at $52 a share (approximately R991 based on the current exchange rate) and now is valued at $296,73 (roughly R5 659,44) a share, whereas Stellantis’ stock is valued at $16,22 a share (roughly R309,36). Ferrari, which is now valued at over a trillion rand, is now more valuable than its previous parent company Stellantis and now sits among the top three most valuable entities in the automotive industry.
So far for Q1 of 2023, the firm has reported it has sold 3 567 units, which represents a 10% increase (316 units) compared to the previous year’s Q1 results. For the first quarter, Ferrari reported that it had experienced a net profit of roughly R6,1 billion accompanied by an EBITDA margin increase elevating its Adjusted EBITDA margin to 37,6%.
Compared to the previous year’s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), Ferrari has experienced an increase of 27% which translates to a total earnings figure of 537 million Euros (roughly R11 billion) for 2023. Interestingly, in Ferrari’s latest earnings report, the firm stated that it would be increasing the price of its products to counteract the ongoing cost inflation.
Related: Introducing Ferrari’s all new drop top; the Roma Spider
Aside from its strong performance in Q1 of 2023, the firm has noted that the demand for its products has been so strong that its order books will see the firm through till 2025. In the local market, the month of March saw a total of 1 unit of the 812 model.
Related: Remember the Ferrari F50 that was exported to the USA? Here it is now
“Our order book already extends into 2025 with an award-winning product portfolio. We have decided to reopen orders for the Purosangue, suspended due to an initial unprecedented demand, and launched the Roma Spider to further enrich our offer. We are on track with our electrification journey on the development of both sports cars and infrastructures in Maranello” —Benedetto Vigna, Ferrari CEO
