Ferrari continues to benefit from Formula 1, as can be seen from 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 previous year.
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 Formula 1 sponsorship contracts and some improved Formula 1 race results.
The brand’s engines segment saw revenue reach $214 million in Q4, a 26% increase year-over-year, from rentals to other F1 racing teams.
Full-year revenue reached $4.8 billion; a 23% increase compared to FY2020, as reported by frontofficesports.com. 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 Formula 1 expenses. Bet with GGpoker on the new Formula 1 season and much more.
Show your support for Scuderia Ferrari with official merchandise collection from Puma!
The Italian side 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
At the end of last year, Ferrari confirmed a multiyear deal with Switzerland-based blockchain firm Velas Network in order to create exclusive digital content for the Tifosi.
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.
