Ferrari: Better than gold, sports cars -February 04, 2025 at 15:55
A monument in Italy, the emblematic Luxury Italian automaker does not know the crisis in a automotive sector, however at half mast. The company closes a good year 2024 and stands out on the stock market as a refuge value thanks to its inelastic request, its culture of exclusivity and its wealthy customers. If the purchase of a Ferrari remains a dream inaccessible for many, investing in its actions could be a judicious alternative.
During the financial year 2024, Ferrari recorded a measured but strategically significant increase in its annual deliveries, with 89 additional units compared to the previous year, representing growth of 0.7 %. The increase in deliveries is mainly attributable to the growing popularity of recent models such as Purosangue, Roma Spider and the 296 GTS, which have captured the interest of customers thanks to their innovative design and exceptional performance.
At the same time, the Daytona SP3 has seen its deliveries increase, in accordance with the initial plans of the brand, indicating a precise forecast and an adapted response to market demand. The decrease in deliveries of the 812 Competizione marked the final phase of its life cycle. At the same time, the introduction of the first deliveries of the SF90 XX range and the 12Cilindri model marks the entrance to Ferrari in an electric and hybrid market segment. However, many doubted the latest models which let foresee that Ferrari was going to slow down production to revive the request – we wondered even last October if Ferrari had not lost his immunity totem. It must be said that 2024 was difficult for the entire luxury sector of which Ferrari is a part.
Source : 2024 Annual Presentation
However, the publication reveals a remarkable performance, characterized by significant growth in income and profitability. With net income up 11.8 % to reach 6,677 million euros and an increase of 16.7 % of operating profit (EBIT), which amounts to 1,888 million euros, Ferrari demonstrates its capacity Increase its profits at a faster rate than its income. This performance is all the more impressive since the margin of EBIT is 28.3 %, reflecting effective management and a strong price strategy. The net profit of 1,526 million euros and a profit per share diluted to 8.46 euros testify to the financial solidity of the company and its ability to generate value for its shareholders. In addition, the EBITDA, up 12.1 % with a margin of 38.3 %, underlines the excellent control of costs and the operational efficiency of Ferrari.
A foolproof longevity
Who would have imagined that almost all the Ferrari who left the factory continue to proudly roar on our roads today? A Ferrari is not just a car: it is an investment, a lifestyle for some and a symbol of sustainability for others, shaped by decades of tradition, an intransigent quality and a second -hand vehicle program carefully developed.
When you think of Ferrari, many remember the red which marries the curves of a car which one dreams of being able to touch the steering wheel. But for me, a simple analyst not particularly a fan of cars, I see a genius business model there that is not ready to run out of steam. You will understand, a Ferrari is not a car manufacturer but a luxury company as Xavier Delmas explains very well in this video.
The organized shortages of Ferrari and the strict supervision of the resale means that today, around 90 % of all the Ferrari produced during history are still in working order. This figure comes from the director of the Pre-Owned program at Ferrari, Andrea Sciletti, who announced this statistic during the program Ferrari Approved Certified Pre-Owned In Maranello, during the Market Day capital last October.
One of the essential pillars of this sustainability lies in its second -hand vehicle program, called “Ferrari Approved”. This program offers future buyers of Ferrari a guarantee of superior quality and an impeccable vehicle history. Each used Ferrari integrated into this program is subject to a rigorous inspection. This meticulous inspection covers all aspects of the vehicle, from the engine to the body, passing through the brakes and the interior, and is carried out by Ferrari experts. Especially since today, fashion is the personalization of vehicles.
All of this makes Ferrari even more precious, making they do not lose value once in the hands of their owners, and worse … They gain almost systematically. Hence my parallel with gold, this precious metal which in principle never loses value. Ferrari is similar on the stock market to a first -class defensive value, like the precious metal.
Ferrari (red) vs. Gold (yellow) (Source : Bloomberg)
