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Ferrari: Net profit beat expectations in the fourth quarter of 2021


13 / January / 22 Bunsi Shakiramal Visitors: 51 Rating: ★★★★★

In the fourth quarter of 2021, the Ferrari Group reported an adjusted EBITDA of 398 million, up 7% compared to the 4th quarter of 2020 and above the 385.2 million of the Bloomberg consensus. Revenue was 1.17 billion euros (+10%), while the consensus was 1.18 billion euros). EBIT ADJ was €265m (estimated at €249.9m) and net income was €214m, down 18% compared to the same quarter in 2020, but well above the €193.6m reported analysts.

Considering all of 2021, Ferrari reported net revenue of 4,271 million, up 23% (+26% at constant exchange rates). Deliveries reached 11,155, up 22% from 2020. EBITDA in 2021 was €1,531 million, up 34% year-on-year and with an EBITDA margin of 35.9%. In 2021, EBIT was 1,075 million, an increase of 50.2% year-on-year and an EBIT margin of 25.2%. Net industrial debt at 31 December 2021 was €297 million compared to €543 million at 31 December 2020.

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