Ferrari N.V. (“Ferrari” or the “Company”) today announces its consolidated preliminary results(2) for the third quarter and nine months ended September 30, 2021.
Shipments(3)(4)
Shipments totaled 2,750 units in the third quarter of 2021, up 437 units or 18.9% versus the prior year quarter.
Sales of 8 cylinder models (V8) were up 39.4%, while 12 cylinder models (V12) were down 35.1% mainly due to reduced volume of the 812 Superfast. The shipments of the quarter were driven by the range models, with the first deliveries of the SF90 Spider that began in the quarter, while the Portofino M entered the ramp up phase. The Ferrari Monza SP1 and SP2 continued to be delivered in line with planning.
All geographic regions positively contributed in the quarter. EMEA(4) increased by 1.6%, Americas(4) by 40.1%, Mainland China, Hong Kong and Taiwan by 109.2%, boosted by the arrival of new models in particular the Ferrari Roma and the SF90 Stradale, and Rest of APAC(4) by 21.1%.
Total net revenues
Net revenues for the third quarter 2021 were Euro 1,053 million, up 20.7% at constant currency(1).
Revenues from Cars and spare parts(5) were Euro 883 million (up 21.6% or 23.5% at constant currency(1)), thanks to higher volume and positive product mix, together with strong contribution from personalizations.
The increase in Engines(6) revenues (Euro 55 million, up 24.8%, also at constant currency(1)) was attributable to higher shipments to Maserati and, to a lesser extent, the rental of engines to other Formula 1 racing teams.
Sponsorship, commercial and brand(7) revenues reached Euro 95 million (up 1.3% or 5.8% at constant currency(1)) mainly due to brand-related activities.
Currency – including translation and transaction impacts as well as foreign currency hedges – had a negative impact of Euro 15 million, mostly related to FX hedges.
SOURCE: Ferrari
