Q1 2025 - Ferrari - Analysis
Massive free cash generation - maintaining full-year growth outlook (>7% increase in EBIT)
The luxury car manufacturer Ferrari released its Q1 2025 results earlier today. At the time of writing, the stock’s up 2% after being down 1.4% earlier. As a reminder, late March we published our in-depth report on the Maranello-based luxury icon.
Commenting on the results, CEO Vigna remains bullish on the near-term and long-term prospects:
“Another year is off to a great start. In the first quarter of 2025, with very few incremental shipments year on year, all key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalizations. This confirms – once again – our strategy of ‘quality of revenues over quantity’.
We continue to enrich our product offering – in line with our plans – with six new models this year, which include the newly launched 296 Speciale, 296 Speciale A and the much-anticipated Ferrari elettrica through a unique and innovative unveiling. We are very excited about what lies ahead.”
Let’s review Ferrari’s report in more detail and update our expected CAGR assumption.