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Ferrari’s 2023 profits drive past €1bil mark

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The company, which delivered 13,663 cars worldwide, is now targeting revenues of over €6.4 billion this year.

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Fuelled by the planned launch of 15 new models over the 2023-2026 period, Ferrari has forecasted a turnover of up to €6.7 billion by 2026. (AFP pic)

MILAN:
Luxury car maker Ferrari posted a record net profit in 2023, passing the €1 billion mark for the first time – with ambitions to accelerate even further this year.

The legendary Italian brand reported a net profit of €1.25 billion last year, up 34%.

Turnover increased by 17.2% to €5.9 billion, in line with forecasts.

Ferrari delivered a total of 13,663 cars worldwide, up 3.3%.

The company is now targeting revenues of more than €6.4 billion in 2024.

“The record 2023 results, the ambitions that we have on 2024, together with the exceptional visibility on our order book allow us to look at the high-end of 2026 targets with stronger confidence,” said chief executive officer Benedetto Vigna.

Under a strategic plan adopted in June 2022, Ferrari forecasts a turnover of up to €6.7 billion by 2026, fuelled by the launch of 15 new models over the 2023-2026 period.

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