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Ferrari: Hamilton and earnings, “la Rossa” is the new queen of Borsa Milano


Ferrari: Hamilton and earnings, “la Rossa” is the new queen of Borsa Milano By

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AuthorAlessandro BergonziStock Markets

Published Feb 02, 2024 08:57

© Reuters Ferrari (BIT:RACE) overtakes Enel (BIT:ENEI) and becomes the new queen of Piazza Affari. In yesterday’s session, the Rossa’s share price ran all day on the FTSE MIB without ever taking its foot off the accelerator and, at the end of the session, the result: + 9.22% to 353 euro per share with a capitalisation of around 69 billion euro, 6 billion euro more than the now former first in class Enel.

The accounts first gave the prancing horse wings: net profit exceeded one billion for the first time, up 34% year-on-year; net revenue at EUR 5.970 billion (+17.2%), Adjusted EBITDA at EUR 2.279 billion (+28.5%) and Adjusted EBITDA margin of 38.2%.

But above all the 2024 outlook, the year in which Maranello intends to grow further, taking net revenues to 6.4 billion, Adjusted EBITDA to at least 2.45 billion and diluted earnings per share to €7.50 from €6.9 in 2023.

Finally, historic news from a sporting point of view arrived: the iconic Formula 1 champion Sir Lewis Hamilton will be a new Ferrari driver from 2025. First the rumours, with the indiscretion launched by the Corriere della Sera, then the official confirmation arrived from Maranello that put the icing on the cake on a day to remember.

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Ferrari has received 1 positive earnings per share revision and 3 negative EPS revisions in the last 90 days. Check out Ferrari’s recent earnings performance and financial data here.

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The article was translated from Italian using DeepL.

Ferrari: Hamilton and earnings, “la Rossa” is the new queen of Borsa Milano

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