Ferrari’s earnings rose in the first quarter as the manufacturer sold more of its most expensive supercars and demand for personalizations grew.
Net revenue climbed 13% to €1.79 billion (R37 billion) from a year earlier on higher shipments in Europe and to the Americas, the company said Tuesday.
Ebitda increased 15%, with both figures roughly in line with analysts expectations.
The results suggest that Ferrari remains relatively resilient to the demand issues plaguing its peers, which are also contending with additional costs from US tariffs. The company confirmed its outlook for the year.
Ferrari shares declined 0.3% as of 1:09 p.m. in Milan. The stock is down around 1% this year.
Ferrari sells about one in four cars in the US, its largest market.
The company said in March that it plans to raise prices for some of its models in the market by as much as 10% to deal with President Donald Trump’s duties.
While Ferrari’s global shipments rose 1% in the period, they were held back by a continuing slump in the greater China region, where its sales cratered 25% amid muted demand for Western luxury cars.
Ferrari’s poor performance there follows a 21% sales drop in the region in the fourth quarter.
Ferrari is less exposed to the Chinese market than some of its peers. The company is limiting sales there to 10% of total shipments because local tariffs weigh on margins.
Still, the manufacturer could rethink its cap to chase opportunities as demand for luxury EVs grows, Chief Executive Officer Benedetto Vigna said earlier this year.
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