Q1 2025 Ferrari NV Earnings Call Transcript
Key Points
- Ferrari NV (RACE) reported strong financial results for Q1 2025, with total revenues reaching approximately EUR 1.8 billion, driven by a focus on quality over quantity.
- The company achieved a robust EBITDA of close to EUR 700 million, highlighting strong profitability.
- Industrial free cash flow generation was impressive, exceeding EUR 600 million for the quarter.
- Ferrari NV (RACE) has a strong order book, with current models covering the whole of 2026, indicating sustained demand.
- The launch of new models, including the 296 Speciale coup and spiders, has been well-received, showcasing Ferrari's innovation in hybrid technology and design.
- The macroeconomic environment remains uncertain, with ongoing geopolitical tensions and market volatility posing potential risks.
- Ferrari NV (RACE) faces challenges from higher tariffs on EU cars imported into the US, which could impact profitability.
- The company anticipates a reduction in EBIT and EBITDA margins by 50 basis points due to these tariffs.
- There is a potential risk of foreign exchange rate fluctuations affecting financial performance, despite hedging strategies.
- The second half of 2025 is expected to be weaker than the first half, influenced by product mix changes and increased SG&A and R&D expenses.
Good day and thank you for standing by. Welcome to the Ferrari 2025 Q1 results conference call.
(Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to have the conference over to your first speaker today, Nicoletta Russo, Head of Investor Relations. Please go ahead.
Thank you, Sharon, and welcome to everyone who is joining us. Today, we plan to cover the group's first quarter, 2025 operating results, and the duration of the call is expected to be around 60 minutes. Today's call will be hosted by the group CEO, Mr. Benedetto Vigna; and the group's CFO, Mr. Antonio Piccon. All relevant materials are available in the investor section of the Ferrari corporate website, and at the end of the presentation, we will be available to answer your questions.
Before we begin, let me remind you that any forward-looking statement we might make during today's call are subject to the risk and uncertainties mentioned in the Safe Harbor statement
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