LUXURY car maker Ferrari posted a record net profit in 2023, passing the €1 billion (R20bn) mark for the first time – with ambitions to accelerate even further this year.
The legendary Italian brand reported a net profit of €1.25bn last year, up 34%.
Turnover increased by 17.2% to €5.9bn, 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 bn in 2024.
CEO Benedetto Vigna said: “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.”
Under a strategic plan adopted in June 2022, Ferrari forecasts turnover of up to €6.7bn by 2026, fuelled by the launch of 15 new models over the period 2023 to 2026.
AFP