Ferrari pays huge bonus to staff

Ferrari is to pay its five thousand employees a sizeable bonus this year after its end-of-2024 accounts exceeded targets.

The Italian marque's net revenues were up 11.8% year-on-year compared to 2023 at €6.67 billion, whilst net profit soared 21 percent to €1.5 billion.

As a result, each of the Scuderia's Italy-based staff will get a bonus of €14,400, up from €13,500 the year prior. The good news was confirmed to journalists by the CEO of the Maranello squad, Benedetto Vigna.

Ferrari made 13,752 deliveries in 2024, an increase of 89 from the previous 12 month period. Vigna has also confirmed Ferrari will launch six new models in the year to come, including its first electric car.

"We expect robust growth also in 2025, which will allow us to reach the top end of most of our 2026 profitability targets one year ahead of schedule," he said.

"We focus on revenue quality rather than volumes. I believe this is the best explanation for the extraordinary financial results in 2024, driven by a strong product mix and growing demand for customisation."

Despite having recently signed Chinese driver Zhou Guanyu to a reserve role for its F1 team, a move that could prove lucrative, Ferrari will not change tact in China, where its volumes remain below 10 percent of the company's global total.

"We need to make sure that the approach to the brand is done correctly. We could have pushed volumes, but we didn't, we prioritise quality. However, we have orders in China that cover five quarters," Vigna added.