Ferrari starts year with racing profit but warns of tariff impact
Italian luxury carmaker Ferrari reported a robust first quarter with a 17% increase in its net profit to €412 million for the first three months of 2025, slightly better than expected. The carmaker also warned that US trade tariffs could hit earnings later this year.
Net revenues for Q1 2025 were €1.8bn, 13% more than in the previous year.
'Another year is off to a great start,' Benedetto Vigna, CEO of Ferrari, said. 'In the first quarter of 2025, with very few incremental shipments year on year, all key metrics recorded double-digit growth, underscoring a strong profitability driven by our product mix and continued demand for personalisations.'
Revenues from the car-making business were up by 11.1%, partially due to increased personalisations.
Overall shipments increased by 0.9% in the first quarter, mainly driven by demand in the EMEA region and the US, but shipments to Mainland China, Hong Kong and Taiwan decreased.
Revenues from sponsorship, commercial and brand were up by 32.1%.
Related
Outlook for 2025
For the full year 2025, the Italian carmaker expects net revenues to be up by 5% year-on-year, resulting in more than €7bn. According to its guidance, the adjusted operating profit is expected to be around or more than €2.03bn, up by 7% or more.
However, the carmaker warned that this profit could be reduced if US tariffs hit the carmaker harder than expected. 'The above guidance is subject to a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins), in relation to the update of the commercial policy following the introduction of import tariffs on EU cars into the USA,' the statement said.
At the end of March, Ferrari already announced that it would increase their prices for certain models up to 10% in response to Trump's 25% auto tariffs on European car imports.
'We continue to enrich our product offering – in line with our plans – with six new models this year, which include the newly launched 296 Speciale, 296 Speciale A and the much-anticipated Ferrari elettrica through a unique and innovative unveiling,' Vigna said. 'We are very excited about what lies ahead.'
Ferrari's share prices were more than 1.8% up after the report at 4.30 p.m. CEST in the Italian trade on Euronext Milan.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
19 minutes ago
- USA Today
Corporations won't save LGBTQ+ people. Take their money for Pride anyway.
Corporations won't save LGBTQ+ people. Take their money for Pride anyway. | Opinion Every large company, regardless of its position on DEI, operates within systems that perpetuate harm in one way or another. This is not a time to stand on principle. Take the money. Show Caption Hide Caption San Francisco Pride faces shortfall as corporate sponsors pull out Several major companies have opted out of donating to San Francisco Pride this year, such as Anheuser-Busch, Diageo, Nissan, and Comcast. Corporations are not our friends. Despite their diverse casting in advertisements, the rainbow trinkets they proudly sell for $2, press releases on innovative DEI initiatives or how "brave" their hot takes on social issues are – corporations will not save us. They exist to sell us things. They exist to advertise their brand. They exist to maximize their profits. And our job as queer leaders is not to be the morality police of who can or cannot sponsor pride or donate toward LGBTQ+ events and causes; our job is to grab that money and use it to support a community on the brink of being pummeled. This is not a normal year. Federal funding for nonprofits supporting LGBTQ+, immigrant, people of color and other intersecting communities are under attack, as are our tax-exempt statuses. Economists are predicting massive layoffs. Libraries, museums, cultural spaces and health programs (which employ and serve countless LGBTQ+ individuals) are being defunded. Trump administration has waged war on trans people Our federal government has waged an egregious war on our trans family, and the Supreme Court recently heard a case that could dismantle all preventative care coverage, including access to PrEP (pre-exposure prophylaxis medicine that can help prevent the spread of HIV). Here is the hard truth we have to reckon with in 2025: Every dollar counts more than ever if we want to keep LGBTQ+ people informed, healthy and alive. There's a commendable vision within the LGBTQ+ community to return to a time when we relied on mutual aid instead of corporate dollars. But like everything, it has a cost. In 2025, that cost is asking a community of people who are losing access to meds, about to lose their jobs and constantly under political attack to give even more. Your Turn: Do you celebrate pride? Are you worried about Trump's impacts on it? Tell us. The quiet truth is it would financially decimate our community if we were expected to take the already small amount of resources that we have and use them to replace hundreds of millions dollars in lost sponsorships, research and health care. Most people can't afford to donate to every fundraiser providing continuous access to gender-affirming care, send money to replace funding for the local trans services that lost their federal grant, give to all the GoFundMe's for everyone getting laid off this year, donate to support some research project still happening and still manage to support the normal fundraising needs our community has on whatever is left in their pockets between paydays. We become stronger by bringing more resources into the fold, not recycling what we have over and over. Pride events must take every dollar from any corporation The truth is, no corporation is ever clean. There is no ethical consumption under capitalism. Every large company ‒ regardless of its position on diversity, equity and inclusion ‒ operates within systems that perpetuate harm in one way or another. How is DEI the deal breaker for who can sponsor pride, but we'll turn a blind eye to a health insurance conglomerate with questionable tactics, companies that destroy the environment or banks supporting genocide? In any other year, I would be asking you to throw them all out. Today I'm asking you to take all of their money. Opinion: With Trump's ban on trans troops in effect, US tests lawful discrimination This is my ask, if you're running a pride festival or charity event, determine the minimum amount you need to make your event a reality, and build a regranting program to get excess funds to community resources under attack this year. This includes your local HIV clinic or programs providing gender-affirming care. If your nonprofit receives corporate gifts or grants, continue to accept the gifts that keep your doors open. But here's the key: Promise corporations the bare minimum in return for their sponsorships. Brainstorm with your team to reexamine what you offer your partners. Are there promotional aspects that could be tweaked, or partnerships toned down, so you are still offering something of value to the partner but it's more authentic to the organization? A little wiggle room leads to big gains. It's time to fight for our survival, not stand on principle If these companies are willing to give us the bare minimum, in the form of a tax-deductible donation, we can afford to give them the bare minimum in return to keep our community stable. Use them to build our own mutual aid bank. Take that dollar. Because in six months or a year, we probably won't have it. Our nonprofits might be starting to shut down. Services will likely be more strained or cut off completely. This is not a time to stand on principle about which funding sources are 'pure.' It's a time to rally, strategize and fight for survival. Every dollar we take and redirect to our community is a necessary, and perhaps fleeting, lifeline – using the advertising capital of a festival or a one-time event, to protect the health, safety and knowledge of our community. To nonprofit leaders and community organizers reading this: Take the money. All of it. Use it to get more medicine, more stability and more resources into your communities. Raise it now so we have it tomorrow. Ask for more, too. We're not just fighting for the present; we're fighting to preserve a future for LGBTQ+ communities everywhere. And that fight requires every dollar we can muster. Missy Spears is the executive director of Queer Kentucky, the GLAAD-nominated media nonprofit that uses the power of storytelling to impact LGBTQ+ culture and health. In addition to her work with Queer Kentucky, Spears serves as the Board of Directors co-president for the Kentucky Civic Engagement Table, the cofounder of the COVunity Free Fridge Program, and sits on Community Advisory Boards for the Cincinnati Art Museum, media outlet WCPO, and University of Kentucky's Center for Clinical and Translational Science. This column originally appeared in the Louisville Courier Journal.
Business Insider
19 minutes ago
- Business Insider
Thousands of student-loan borrowers are at risk of losing a portion of their Social Security checks starting this month
Thousands of student-loan borrowers are at risk of getting a smaller Social Security check this month. President Donald Trump's Department of Education said that, beginning in early June, thousands of student-loan borrowers in default could start facing garnishment of their federal benefits. "The first monthly benefit checks subject to offset are those scheduled for early June," the department said in early May. "Later this summer, all 5.3 million defaulted borrowers will receive a notice from Treasury that their earnings will be subject to administrative wage garnishment." The department said it sent 30-day notices to 195,000 defaulted student-loan borrowers in May, warning them of benefits garnishment. This move results from the Trump administration restarting collections on defaulted student loans on May 5. Under a pause first put in place by Trump during the pandemic, borrowers were free of collections and negative credit reporting for falling behind on their payments. Those protections are now over, which Education Secretary Linda McMahon said is necessary to restore accountability to the student-loan system. "Borrowing money and failing to pay it back isn't a victimless offense. Debt doesn't go away; it gets transferred to others," McMahon wrote in a May opinion piece. A federal student-loan borrower typically enters default after missing payments for more than 270 days. In addition to the 5 million borrowers currently in default, the New York Federal Reserve said that the number of borrowers who transitioned into serious delinquency surged from 0.8% in 2024 to 8.04% in 2025, putting those borrowers at risk of defaulting this summer. Borrowers in default have a few options to return to good standing, but they are time-consuming. One option is loan rehabilitation, in which a borrower has to sign an agreement to make nine payments within 20 days of their payment due date for 10 consecutive months. With this option, payments can be as low as $5 a month, and after rehabilitation, the defaulted loan will be removed from the borrower's credit reports. Other options include loan consolidation, in which borrowers can consolidate their defaulted loans into a federal direct loan, or the borrower can file for bankruptcy. Some student-loan borrowers, both in default and delinquent on their loans, previously told Business Insider that they're concerned about their ability to stay afloat financially if some of their wages and benefits are withheld. For example, James Southern, a 63-year-old in serious delinquency, said that he received a $1,414 bill for his student loans that he cannot pay. "There will be no retirement. I'll die on the job," Southern said. "Even if I were at my full retirement age, they'd garnish the Social Security, so I'm still going to have to work in order to survive."
USA Today
an hour ago
- USA Today
GoGordian Real Estate Offers Maisonettes and Villas for Sale in Paphos, Ideal for Summer Living and Retirement
GoGordian Real Estate has announced the availability of a new selection of maisonettes and villas for sale in Paphos, Cyprus, further expanding its portfolio of residential properties in the region. Known for its picturesque landscapes, rich historical heritage, and consistently warm Mediterranean climate, Paphos continues to draw significant interest from both local and international buyers seeking properties suited for seasonal retreats or long-term living. The newly listed maisonettes and villas are situated in prime locations across Paphos, offering a balance of privacy, convenience, and proximity to essential amenities. Many of these homes are located near the sea, nature trails, and key urban centers, making them particularly attractive to those looking to settle in Cyprus or invest in holiday homes. The expansion aligns with increased demand in the local real estate market, especially among retirees from Europe and individuals seeking a second home in a sun-drenched location. Paphos, a UNESCO World Heritage Site, has long maintained a reputation as one of the island's most desirable residential hubs. Its combination of archaeological sites, scenic coastlines, and laid-back lifestyle continues to position the city as a preferred destination for foreign nationals interested in relocating to Cyprus. The properties now available through GoGordian Real Estate include both new developments and carefully maintained resale homes. Maisonettes offer a practical option for small families or couples, while the detached villas provide larger living spaces, often accompanied by gardens, private pools, or panoramic views of the coastline. These features appeal to individuals seeking both tranquility and year-round enjoyment in a region that offers over 300 days of sunshine annually. According to a spokesperson for GoGordian Real Estate, Paphos experiences a continued interest from prospective buyers in key European markets. 'There has been a clear and steady increase in inquiries from clients looking for well-positioned homes that can serve as permanent residences or seasonal getaways,' said the spokesperson. 'Paphos offers the right mix of infrastructure, natural beauty, and affordability, making it an ideal location for those planning for retirement or looking to enjoy summers in Cyprus.' The real estate firm has also noted a shift in buyer preferences following recent global lifestyle changes. Increasingly, individuals are seeking homes that accommodate flexible living arrangements, with a focus on outdoor space, home office setups, and proximity to local services. Properties in Paphos cater to these needs, offering adaptable layouts in quiet residential areas that remain well connected to healthcare, retail, and leisure facilities. GoGordian Real Estate's continued investment in the Paphos region also reflects a strategic response to the urban development plans and infrastructure upgrades currently underway in the area. Road improvements, enhanced public spaces, and initiatives promoting sustainable tourism have contributed to the city's long-term appeal. As a result, residential property values have remained stable, with signs of growth in high-demand locations, especially those near the coast or within heritage zones. The newly available properties are spread across several sought-after neighborhoods, including Agios Theodoros, Geroskipou, Pegeia, Neo Chorio and Latchi. Each area offers a distinct living experience, from vibrant seaside activity to quiet hillside retreats. Prospective buyers will find a diverse range of architectural styles, from contemporary minimalist villas to traditional Mediterranean-style homes, with options tailored to various lifestyle preferences and budgets. GoGordian Real Estate has reinforced its commitment to facilitating smooth and transparent transactions for buyers. Legal and administrative support is provided to assist foreign nationals throughout the purchasing process, ensuring that all regulatory and documentation requirements are met with precision. This level of guidance is particularly significant for retirees who are new to overseas property ownership. While demand for properties in Paphos remains strong, GoGordian Real Estate emphasizes the importance of early planning for interested buyers. The real estate market in Cyprus has become increasingly competitive, and high-quality properties in strategic locations are often sold quickly. The company encourages potential investors to reach out for updated listings and professional consultation to explore the available options. GoGordian Real Estate's broad property portfolio in Paphos responds to the growing demand for residential opportunities available across Cyprus. With an increasing number of people considering the island for seasonal living, semi-permanent relocation, or retirement, the focus remains on offering properties that meet practical, aesthetic, and long-term value expectations. As Cyprus continues to attract attention as a destination for quality living in the Mediterranean, GoGordian Real Estate remains positioned to play a central role in supporting that transition for homebuyers.
