ferrari_1.jpg (22.91% stake and 32.75% of voting rights on issued capital)

The key consolidated figures of Ferrari reported in the first half of 2017 are presented below:


(1)Adjusted EBIT is a non-GAAP financial measure used to measure performance. Adjusted EBIT represent EBIT as adjusted for income and costs, which are significant in nature, but expected to occur infrequently.
(2) Net industrial debt is defined as net debt excluding the funded portion of the self-liquidating financial receivables portfolio.
(3) At December 31, 2016.



Shipments in the first half of 2017 totaled 4,335 units, an increase of 239 units (+6%) from the corresponding period of 2016. This achievement was driven by an increase in sales of 12 cylinder models (V12), while the 8 cylinder models (V8) were substantially in line with prior year. The V12 strong performance was led by the GTC4Lusso and LaFerrari Aperta, partially offset by the F12Berlinetta (phasing-out) as well as the F12tdf, that is finishing its limited series run.

Net revenues



Net revenues in the first half of 2017 were €1,741 million, an increase of €255 million (+17.2%; +16.2% on a constant currency basis) from €1,486 million for the six months ended June 30, 2016.

Revenues in Cars and spare parts were €1,250 million, an increase of €180 million were up 17% versus prior year, supported by higher volumes and positive mix led by the 488 and the GTC Lusso families as well as LaFerrari Aperta, along with a greater contribution from the personalization programs, pricing increases and FX which was partially offset by the end of La Ferrari lifecycle in 2016, as well as the non-registered racing car FXX K and the strictly limited edition F60 America, completing their limited series run in 2016.

Engines revenues (€204 million, +60%) showed an increase attributable to strong sales to Maserati, more than offsetting the termination of the rental agreement with Formula 1 racing Team.

Sponsorship, commercial and brand revenues (€246 million, +5%) were up mostly due to higher sponsorship revenues, partially offset by the impact of lower 2016 championship ranking compared to 2015.


EBIT in the first half of 2017 was €379 million, up €112 million (+42%) from €267 million for the first half of 2016; the increase was primarily attributable to a positive volume impact (€33 million) and a positive product mix (€57  million). The positive volume impact is due to an increase in total shipments of approximately 225 cars, driven by the GTC4 Lusso and the 488 families, together with positive contribution from the personalization programs. The positive product mix was primarily attributable to the La Ferrari Aperta, which was launched in the third quarter of 2016, as well as an increase in shipments of our V12 models, driven by GTC4Lusso, partially offset by a decrease in shipments of La Ferrari which completed its  lifecycle in 2016, as well as the non-registered racing car FXX K and the strictly limited edition F60 America, completing their limited series runs in 2016. 

Net industrial debt

Net industrial debt at June 30, 2017 decreased to €627 million from €653 million at December 31, 2016 thanks to strong industrial free cash flow generation, notwithstanding the cash distribution of €120 million.


Significant events in the first half 2017 and subsequent events

For the second year running, the 3.9-litre twin-turbo V8 that powers the 488 GTB, 488 Spider and, in a slightly smaller displacement, the California T and GTC4Lusso T, has taken the outright “International Engine of the Year Award”.

For the third year running, Ferrari has taken the “Red Dot: Best of the Best” award for the maximum expression of design quality and ground-breaking design. The model to receive the top award of the prestigious annual Product Design competition was the Ferrari J50, the strictly limited series of bespoke cars built to commemorate the 50th anniversary of Ferrari in Japan.

On July 24, 2017 Ferrari and UPS have renewed the sponsorship agreement, based on which the UPS brand will continue to appear on the Scuderia Ferrari’s single-seaters and the official drivers’ racing suits. The multi-year agreement continues the collaboration started in 2013.

On July 28, 2017 Scuderia Ferrari has reached a multi-year agreement with Sauber F1 Team, by virtue of which the Swiss Team will be fitted with the Power Units built at the Maranello factory.

2017 Outlook 

Ferrari is expecting the following performance in 2017:

  • shipments: of approximately 8,400 units, including supercars;
  • net revenues more than €3.3 billion;
  • adjusted EBITDA more than €950 million;
  • net industrial debt approximately €500 million.



Commercial Register No.64236277 Note legali | Credits