Ferrari Chairman John Elkann hailed Ferrari's financial and sporting results on Wednesday as opened the legendary luxury carmakers' shareholders' meeting.
“Ferrari closed 2023 with record results and achievements,” he said.
"Despite the difficulties posed by a complex macroeconomic situation, the strength of the Ferrari brand and the vitality of the company were confirmed.
"Ferrari's uniqueness in the luxury sector is evident not only in our solid financial results, which set new records, but also in the predictability and consistency of the results, as well as the delivery of our promises, all factors that help instill confidence in investors ".
Ferrari registered net revenues of 6 billion euros in 2023, up17%, with an adjusted EBITDA of 2.3 billion euros, while netprofit exceeded one billion euros the first time.
Elkann mentioned Ferrari's victory at Le Mans last year in its long awaited return to the epic endurance race
He admitted that 2023 was a difficult year for Ferrari's FormulaOne team, but said there had been "encouraging" signs since the victory at the Singapore Grand Prix in September.
He said 98.7% of Ferrari's Italian employees had signed up to a new share ownership plan, adding that the scheme would be extended to its workers worldwide.
Under the plan, employees receive shares in the company worth up to 2,065 euros free of charge.