Everyone wants a Prancing Horse.
With no vacations to take in 2020, many wealthy individuals instead decided to spend their cash on expensive exotic vehicles. Bentley recently posted record profits through the first half of 2021, and during a recent earnings call, Ferrari announced similar success. Ferrari has shipped 2,685 vehicles so far this year, doubling last year s number and increasing 0.5% compared to 2019. Strong demand helped Ferrari bring in 1.035 billion euros ($1.23 billion) in revenue, more than double 2020 s revenue and 5.2% more than 2019.
Earnings before interest, taxes, depreciation, and amortization (EBITDA), the most important financial figure, was 386 million euros ($459 million). This is triple last year s EBITDA and up 23% compared to 2019. Ferrari is hugely successful right now, and we only see this momentum continuing.
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