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Ferrari shares pop 8% as luxury carmaker sees further earnings growth in 2025

Luxury carmaker Ferrari on Tuesday reported a significant upswing in full-year net profit, citing a strong product mix and growing demand for personal touches to its vehicles.

Ferrari posted net profit of 1.53 billion euros ($1.58 billion) for the full-year 2024 period, reflecting a 21% increase from the previous year.

Other earnings highlights:

Milan-listed shares of the company were last seen up about 7.8%, reversing earlier losses. U.S.-listed shares, meanwhile, rose up 8%.

Ferrari said it expected net revenues to increase by roughly 5% to more than 7 billion euros in 2025, having met its targets in 2024.

The Italian company also forecast that its core earnings — the adjusted earnings before interest, depreciation and amortization — will grow by at least 5% this year.

"I think that the year has been very good for our company. We have been able to pass all the metrics that we created during the last guidance," Ferrari CEO Benedetto Vigna told CNBC's Charlotte Reed on Tuesday.

Asked about the potential impact of U.S. tariffs, Vigna replied: "We are trying to understand what is going to be the percentage and when is the starting date … Let's wait [until] this is becoming a fact."

Analysts said late last year that they expect Ferrari to be something of an exception among Europe's automotive sector, even as many carmakers come under pressure from U.S. tariffs.

Ferrari, which exclusively produces its cars in Italy, is thought to be well placed to pass on any increase in prices, should U.S. President Donald Trump materialize his pledge to introduce higher tariffs on the European Union.

Vigna also said Ferrari is on track for the landmark launch of its first fully electric car at its capital markets day on Oct. 9 at the firm's

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