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The Maranello, Italy-based sports activities automotive producer posted internet revenue of 412 million euros ($466.3 million) for the primary three months of the yr, reflecting a 17% enhance from the identical interval final yr.
Analysts had anticipated first-quarter internet revenue to return in at 410 million euros, based on Reuters ballot.
“One other yr is off to a terrific begin,” Ferrari CEO Benedetto Vigna stated in a press release.
“Within the first quarter of 2025, with only a few incremental shipments yr on yr, all key metrics recorded double-digit progress, underscoring a robust profitability pushed by our product combine and continued demand for personalizations,” Vigna stated.
Trying forward, Ferrari warned that the introduction of U.S. tariffs on EU automobiles imported into the U.S. may negatively impression the agency’s profitability this yr.
“The [2025] steering is topic to a possible danger of fifty foundation factors discount on profitability proportion margins (EBIT and EBITDA margins), in relation to the replace of the business coverage following the introduction of import tariffs on EU automobiles into the USA,” the automaker stated in its earnings report.
Luxurious carmakers are contending with the disruptive impression of Trump‘s back-and-forth trade tariff coverage. A number of European auto giants reported a sharp downturn in quarterly revenue this earnings season, with many suspending or slicing monetary steering as Trump’s tariffs take their toll.
The president imposed a 25% tariff on automotive imports into the U.S. in early April. Trump sought to water down these levies final week, nonetheless, signing an executive order designed to stop a spread of different separate duties — comparable to a further 25% tariffs on metal and aluminum — from “stacking” on prime of each other.
Ferrari said in late March that it will increase costs by 10% on sure fashions in response to the tariffs. The transfer would add as much as $50,000 to the value of a typical Ferrari.
Shares of the Milan-listed inventory traded round 0.8% decrease at 12:44 p.m. London time.
