MILAN (Reuters) -Luxury sports car maker Ferrari said on Tuesday its revenue and core earnings would rise by at least 5% this year, supported by strong product delivery and demand for personal touches to its vehicles, having met targets for 2024.
The Italian company said it saw its earnings before interest, tax, depreciation and amortisation (EBITDA) growing to at least 2.68 billion euros ($2.77 billion) in 2025, from 2.56 billion euros in full-year 2024.
Last year’s EBITDA result compares with Ferrari’s forecast for a result of at least 2.50 billion euros.
Milan-listed shares in the company reversed limited losses after results were published and were up 3.3% by 1215 GMT.
CEO Benedetto Vigna said a strong product mix and a growing demand for personalisations had driven the 2024 results.
“On these solid foundations, we expect further robust growth in 2025,” he said in a statement, adding this would allow Ferrari to meet one year in advance the high-end of most of its profitability targets set for 2026.
Personalisations refer to the finishing touches that Ferrari buyers add at extra cost to their cars, and mainly relate to paint, liveries and use of carbon.
Ferrari, which last year delivered 13,752 cars, 89 more than in 2023, said product mix and pricing power contributed 386 million euros to 2024 EBITDA, sustained by the deliveries of the 12-cylinder Daytona SP3 and a few units of the track-only 499P Modificata.
An increase in deliveries to clients in the United States also supported the result, the company said.
Ferrari, which has promised its first fully-electric car in the final quarter of this year, on Tuesday said it would hold a capital markets day on Oct. 9.
($1 = 0.9687 euros)
(Reporting by Giulio PiovaccariEditing by Keith Weir, Kirsten Donovan)
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