Ferrari

I am now close to my first really big milestone and wanted to share my portfolio with you here for the first time.

The portfolio is structured in such a way that I have an All Word ETF and an S&P 500 ETF as a basis in order to have a deliberate additional focus on tech in the portfolio.

My largest position in the portfolio is $CTAS (-0,21%). Of course, the share is very high with a weighting of just under 30%. However, I fully support the company's concept and have confidence in a successful future. Even if the share were to correct by 40% due to its strong performance in recent years, I wouldn't mind and would still remain invested.

All other positions are mainly for a broader coverage of the overall market.

I specifically wanted to include the consumer goods sector more strongly in my portfolio. That's why I bought the shares of

$TSCO (-0,09%)

$CMG (+0,17%)

$MELI (+0,67%)

into my portfolio.

New additions to my portfolio are $RACE (+0,17%) and the Eli Lilly share, which have been somewhat punished recently.

The share of $NU (+0,55%) I have also added to the portfolio to better reflect the financial sector.

I also have some $BTC (+1,54%)but I want to keep the weighting below 5% of the total portfolio.

What do you think of my portfolio?

now own a total of 0.0175 Ferrari 488 Spider

(in Ferrari shares)

Real Ferrari $RACE (+0,17%) I can't afford, but I can afford a few shares

Finally getting a foot in the door

Ferrari Q3 2024 $RACE (+0,17%)

Financial performance

• Net sales: Net sales increased by 6.5% to €1.644 billion in Q3 2024 compared to Q3 2023. For the nine months ended September 30, 2024, net sales amounted to €4.941 billion, an increase compared to €4.447 billion in the same period in 2023.
• Adjusted EBIT: Increased by 10.3% to EUR 467 million in the third quarter of 2024, corresponding to a margin of 28.4%.
• Adjusted EBITDA: Increased to €638 million, an increase of 7.1% year-on-year, with a margin of 38.8%.

Balance sheet overview

• Total available liquidity: As at September 30, 2024, available liquidity amounted to EUR 2.079 billion, including unused credit lines of EUR 550 million.

Details of the income statement

• Cost of sales: Costs increased to EUR 827 million in the third quarter of 2024, compared to EUR 779 million in the third quarter of 2023.
• Selling and administrative expenses: Increased to 135 million euros compared to 119 million euros in the previous year.
• Research and development expenses: Recognized EUR 212 million in the third quarter of 2024, reflecting continued investment in innovation.

Cash flow overview

• Free cash flow: Totaled EUR 338 million in the third quarter of 2024, with free cash flow from industrial activities at EUR 364 million.
• Operating cash flow: Totaled 587 million euros in the third quarter of 2024.

Key figures and profitability ratios

• Net profit: Net profit increased to EUR 375 million in the third quarter of 2024, compared to EUR 332 million in the third quarter of 2023.
• Earnings per share (EPS): Both basic and diluted EPS amounted to EUR 2.08 in the third quarter of 2024.

Segment information

• Cars and spare parts: Remained the main sales drivers, with a positive mix of product offerings and pricing strategies strengthening growth.

Competitive position

Ferrari remains a leading luxury brand, leveraging a strong product mix and personalization options to consolidate its market position and drive sales.

Forecasts and comments from management

• Forecast 2024: Management is confident of achieving its 2024 target, with net sales expected to exceed €6.55 billion and an adjusted EBIT margin of at least 27.5%.
• Growth drivers: The expected performance is supported by a positive product and country positioning as well as increasing personalization.

Risks and opportunities

• Risks: Including cost inflation, regulatory changes and potential supply chain issues.
• Opportunities: Lie in the expansion of lifestyle activities and new sponsorships in racing.

Summary of the results

Ferrari delivered a strong financial performance in Q3 2024 with notable growth in revenue, EBIT and EBITDA, supported by a solid product mix and increased personalization. The company has a solid liquidity position and management is confident to achieve the 2024 targets despite inflation and regulatory challenges.

Positive aspects

• Sales growth: Ferrari's net sales increased by 6.5% to EUR 1.644 billion in the third quarter of 2024 compared to the third quarter of 2023. For the first nine months to September 30, 2024, sales increased by 11% to EUR 4.941 billion
• Strong EBIT and EBITDA: Adjusted EBIT increased by 10.3% to 467 million euros with a margin of 28.4%, and adjusted EBITDA increased by 7.1% to 638 million euros with a margin of 38.8%.
• Free cash flow: Ferrari generated strong free cash flow from industrial activities of €364 million in the third quarter of 2024.
• Product innovation: The launch of the new F80 super sports car, which is already fully allocated, underlines Ferrari's commitment to innovation and maintaining its status as a luxury brand.
• Positive mix/price effect: The enrichment of the product mix, driven by models such as the Daytona SP3, and increased personalization contributed positively to financial performance.

Negative aspects

• Volume decline: There was a slight negative impact on volume as deliveries decreased by 2% year-on-year to 3,383 units in the third quarter of 2024.
• Increased costs: Selling, general and administrative expenses increased to €135 million in Q3 2024, compared to €119 million in Q3 2023, reflecting higher investment in digital infrastructure and brand initiatives.
• Cost inflation: Ferrari expects cost inflation to continue, which could impact future profitability.
• Racing challenges: Despite new sponsorships, racing activities were impacted due to a lower Formula 1 ranking in 2023, which could impact future revenues from this segment.
• Net financial expenses: Net financial expenses of approximately EUR 1 million were incurred in the quarter, compared to net financial income of EUR 3 million in the prior year, indicating a deterioration in the financial position.

Although the F80 costs more than 3.5 million euros, all of them are already sold out. The model is limited to 799 units. Not everyone who wanted one gets one: The manufacturer decided who would be allowed to drive the F80 in the future.

$RACE (+0,17%)

https://m.bild.de/news/ausland/f80-neuer-ferrari-ist-der-schnellste-und-teuerste-der-welt-und-ausverkauft-67111035a0e636753eda425c?t_ref=android-app%3A%2F%2Fcom.google.android.googlequicksearchbox%2F

$RACE (+0,17%) Ferrari consumer value. Always works.

Ferrari should present its new supercar next week - JP Morgan sees 20% potential!

$RACE (+0,17%)

Ferrari is an absolute long-running stock that I have already mentioned many times. Despite the difficult economic situation, the demand for luxury cars is unbroken. On October 11, JP Morgan upgraded the share from "Neutral" to "Overweight". The price target was raised from USD 385 to USD 525, which corresponds to around € 480.

A positive mention was made of Ferrari's "highly visible earnings growth", which is increasingly appreciated by investors due to increasing macroeconomic, industry and geopolitical uncertainties. JP Morgan expects Ferrari to prove impervious to the current slowdown in China and European luxury goods brands. The bank praised the new electric Ferrari as a "true Ferrari" and said that the car offers an "incredible" driving experience. JPMorgan believes that Ferrari could unveil its latest "supercar" as early as next week.

The share generated an all-time high of € 450 at the beginning of September. Since then, the share has been consolidating. With the upgrade and the upcoming event behind it, the share could break out to a new high in the near future. (RACE)

https://aktien-mag.de/nachrichten/chart-tweets/ferrari-durfte-nachste-woche-sein-neues-supercar-vorstellen-jp-morgan-sieht-20-potenzial/p-128698

https://de.motor1.com/news/725649/erster-elektro-ferrari-exklusives-rendering/