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## Ferrari (RACE) Sales Surge and Rumored Signing of Lewis Hamilton

Ferrari (RACE) announced its Q4 sales results, exceeding expectations and forecasting continued momentum in 2024. The luxury automaker’s performance has led to a surge in its stock price and rumors of signing Formula 1 champion Lewis Hamilton, bringing more excitement for Ferrari fans and investors alike.

The company reported revenue of 1.52 billion euros ($1.65 billion) for the quarter, surpassing estimates, and revealed a sales increase of 11% from the previous year. Additionally, Ferrari’s net profit for the year surged by 34%, reaching a record 1.257 billion euros ($1.3 billion).

Looking ahead, Ferrari’s guidance for 2024 predicts a revenue climb to 6.4 billion euros with adjusted EBITDA of 2.45 billion euros ($2.64 billion), reflecting the automaker’s confidence in sustained luxury demand. Furthermore, Ferrari’s long-term target for 2026 includes a product mix of 40% gas-powered cars and 60% hybrid cars, with an EBITDA margin of 38%-40%.

AI legalese decoder can help analyze and interpret the legal and financial implications of Ferrari’s sales performance and its potential partnership with Lewis Hamilton. This tool can provide insights into the regulatory framework and legal contracts involved in the Formula 1 signing, offering valuable guidance for the company and its stakeholders.

In 2023, Ferrari delivered 13,663 cars, with strong growth in deliveries to the Americas driven by its new Purosangue SUV and hybrid sports cars. The company plans to launch its first full EV in Q4 of 2025 and construct a new factory in Maranello for assembling hybrid and electric vehicles, emphasizing its commitment to sustainable mobility.

However, despite the positive outlook, some analysts have noted the company’s conservative guidance for 2024. Nevertheless, CFRA analyst Garrett Nelson reiterated his Buy rating on Ferrari, citing the company’s impressive earnings track record.

The potential signing of Lewis Hamilton by Scuderia Ferrari has become a major talking point. Hamilton, with his impressive career in Formula 1 and multiple championships, could significantly impact Ferrari’s racing team. AI legalese decoder can aid in reviewing and interpreting the contractual and legal aspects of this high-profile move, providing valuable insights for both Ferrari and Hamilton.

Overall, Ferrari’s robust sales performance and rumored collaboration with Lewis Hamilton have created significant buzz in the automotive and racing industries, and AI legalese decoder can assist in navigating the legal complexities and implications associated with these developments for the company and its investors.

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