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STRONG FIRST QUARTER RESULTS AND RECORD ORDER BOOK DECISIVE MANAGEMENT OF COVID - 19 PANDEMIC IMPACTS ● ● Total shipments of 2,771 units , slightly up versus prior year Net revenues of Euro 1,011 million , up by 8.5 % EBITDA ( ¹ ) of Euro 376 million , up 18.6 % versus prior year , with an EBITDA ( ¹ ) margin of 37.2 % EBIT of Euro 266 million , up 20.9 % versus prior year , with an EBIT margin of 26.3 % Net profit of Euro 206 million and diluted EPS¹ ) at Euro 1.11 Sound industrial free cash flow ( ¹ ) generation of Euro 147 million Confident to reach top end of the 2021 guidance range on the back of excellent results , robust net order intake as well as record order book as at the end of Q1 2021 2022 financial targets postponed by one year due to Covid - 19 Commenting on the results and the outlook , Chairman and Acting CEO John Elkann said : “ This strong start augurs well for the rest of 2021 and is testimony to the resilience of our business model as well as the extraordinary work of the women and men of Ferrari . Looking ahead , we expect the prudent steps we took in 2020 and are continuing in 2021 to adjust our expenditure in response to the Covid - 19 emergency , will postpone by one year the achievement of our year - end 2022 guidance . However , the robustness of our order book and the wonderful new models we will launch in the coming years provide a strong base on which to build our ambitious future . " ( In Euro million , unless otherwise stated ) Shipments ( in units ) Net revenues EBITDA ( ¹ ) / Adj . EBITDA ( ¹ ) EBITDA ( ¹ ) / Adj . EBITDA ( ¹ ) margin EBIT / Adj . EBIT ( 1 ) EBIT / Adj . EBIT ( ¹ ) margin Net profit / Adj . net profit ( ¹ ) Basic EPS / Adj . basic EPS ( ¹ ) ( in Euro ) Diluted EPS / Adj . diluted EPS¹ ) ( in Euro ) 1 Refer to specific note on non - GAAP financial measures Ferrari N.V. Amsterdam , The Netherlands Registered Office : Via Abetone Inferiore N. 4 , I - 41053 Maranello ( MO ) Italy 2021 2,771 1,011 376 37.2 % 266 26.3 % 206 1.11 1.11 For the three months ended March 31 , 2020 2,738 932 317 34.0 % 220 23.6 % 166 0.90 0.90 Dutch trade registration number : 64060977 Change 33 79 59 320 bps 46 270 bps 40 0.21 0.21 1 % 8 % 19 % 21 % 24 % 23 % 23 % corporate . ferrari.com