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Ferrari continues to benefit from Formula 1 following the release of the iconic car brand’s latest earnings report.
The Italian automaker generated $1.3 billion in revenue in Q4 2021, compared to $1.2 billion for the same period the year prior.
Ferrari saw its sponsorship, commercial, and brand segment generate $174 million in revenue during the quarter, up 10.4% compared to Q4 2020, thanks to F1 sponsorship deals and a favorable race calendar.
The brand’s engines segment saw revenue reach $214 million in Q4, a 26% increase year-over-year, in part from rentals to other F1 racing teams.
- Full-year revenue reached $4.8 billion; a 23% increase compared to FY2020.
- Total shipments in FY2021 were up 2,036 units compared to the year prior.
- Industrial and R&D costs increased by $75 million in FY2021, partly due to F1 expenses.
Ferrari also reported organizational changes that support green initiatives on and off the racetrack. Ferrari plans to participate in LMDh, a hypercar class that demands clean energy, by 2023. Last April, the brand announced that its first all-electric vehicle will debut in 2025.
Plans to Increase Engagement
Last December, Ferrari signed a multiyear deal with Switzerland-based blockchain firm Velas Network to create exclusive digital content for fans.
The deal also makes Velas the title sponsor of the Ferrari Esports Series and the automaker’s esports team competing in the F1 Esports Series, a digital championship that includes every participant in the FIA Formula 1 World Championship.
