The signing of Lewis Hamilton is already bearing fruit: Ferrari rises $7 billion in the stock market

The signing of Lewis Hamilton is already bearing fruit: Ferrari rises $7 billion in the stock market

The hiring by Ferrari from the british Lewis Hamilton It served as a trigger for the Maranello team on the stock market. American Depositary Receipts (ADR) from the Italian car manufacturer Ferrari, that are quoted in the NYSE, They rose 12,699% on Thursday to $389.70 each, after the announcement of Hamilton’s arrival to the team’s ranks for the 2025 season.

For its part, the company’s shares in the Milan Stock Exchange they gained 9.21% to 353.50 euros each. The rise on Wall Street marked the all-time high since its debut on that stock market. In market capitalization value, Ferrari earned 7,921 million dollars in one day. The automaker’s papers also gained, according to analysts, due to the solid annual financial results report, corresponding to 2023.

After closing Wednesday’s session at $346.78, Ferrari’s share price quickly climbed to a high of $384 shortly after Thursday’s session opened. This dizzying rise took Ferrari’s market capitalization to an estimated $69.12 billion, significantly exceeding the $62.4 billion at the close of the previous day.

The increase of more than $7 billion in the company’s value is a clear reflection of the enormous vote of confidence from investors in Ferrari’s decision to incorporate Hamilton, further consolidating the position of the Italian sports car manufacturer in the NYSE.

2023 was a year of unprecedented achievements for Ferrari, with a record net profit of €1.25 billion, 34% more than in 2022, thus exceeding the billion-euro threshold for the first time. The annual EBITDA margin also reached a new record of 38.2%, demonstrating the financial strength of the Maranello company.

Net revenue increased significantly, reaching €5.97 billion, an increase of 17.2% compared to the previous year, cWith a total of 13,663 units delivered, 3.3% more than in 2022.

Sponsorship, commercial and brand revenues reached 572 million euros, 14.6% more, mainly attributable to new sponsorships, higher commercial revenues from the Formula 1 for an improvement in ranking in 2022 versus 2021, as well as the contribution of lifestyle activities.

Benedetto Vigna, general director of Ferrari, highlighted the success of 2023 and shared the company’s ambitions for the future. “The record results in 2023, together with our vision for 2024 and the solid order book, allow us to look confidently into the future,” he stressed.

By 2024, Ferrari It expects revenue to exceed €6.4 billion, with an adjusted gross operating margin that should exceed €2.45 ​​billion.

In the case of the Engine division, it reduced its income by 18.4%, to 127 million due to lower shipments to Maserati, whose contract expired at the end of 2023.

Without a doubt, the arrival of Lewis Hamilton mark the beginning of a new era for Ferrari, both on the slopes and in the financial markets.

Source: Ambito

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