Ferrari will launch its first pure electric car in 2025, with strong sales growth in China

CTOnews.com, February 2 (Xinhua)-- driven by demand in the Americas and China, Ferrari expects higher sales and profits this year after record results in 2022, and raised expectations of strong demand for high-margin models.

Ferrari said adjusted earnings before interest, tax, depreciation and amortisation this year would be as high as 2.18 billion euros (currently about 16.045 billion yuan), up from 2 billion euros announced in April. Ferrari also reported fourth-quarter sales and operating profit, beating analysts' expectations.

CTOnews.com learned that Ferrari's adjusted Ebitda (pre-tax profit) rose to 469 million euros (currently about 3.452 billion yuan) in the fourth quarter, exceeding the average analyst estimate of 451 million euros. Revenue climbed to 1.37 billion euros (currently about 10.083 billion yuan), slightly higher than analysts' forecasts of 1.29 billion euros. Ferrari sales grew by nearly 1/5 last year, with the strongest growth in China and the Americas.

However, only 22% of the models sold by Ferrari in 2022 are hybrid models, and the rest are internal combustion engines. The first all-electric Ferrari is expected to be launched in 2025, and pure battery and plug-in hybrids are expected to dominate Ferrari's product portfolio after 2025.