Hamilton says tough start at Ferrari could go on for months
Lewis Hamilton said on Thursday it could take months to get to grips with his new Ferrari and he was paying no attention to those questioning his performances.
Italian luxury carmaker Ferrari posted a strong 17% year-on-year increase in net profit for the first quarter of 2025, but warned that U.S. import tariffs could pose a threat to its earnings outlook for the year ahead.
The company reported a net profit of €412 million ($466.3 million) for Q1, citing robust demand and increased vehicle personalization as key drivers of growth. Despite limited growth in shipments, Ferrari said all major financial metrics saw double-digit improvements.
“Another year is off to a great start,” said CEO Benedetto Vigna. “With very few incremental shipments year on year, all key metrics recorded double-digit growth, underscoring strong profitability driven by our product mix and continued demand for personalizations.”
However, the upbeat earnings were tempered by caution surrounding U.S. trade policy. In its earnings statement, Ferrari flagged the risk of a 50 basis-point reduction in its EBIT and EBITDA margins if new U.S. tariffs on EU automobile imports take full effect.
“The (2025) guidance is subject to a potential risk of 50 basis points reduction on profitability percentage margins (EBIT and EBITDA margins), in relation to the update of the commercial policy following the introduction of import tariffs on EU cars into the USA,” the company stated.
President Donald Trump’s shifting tariff policies have disrupted global automakers, especially luxury brands reliant on transatlantic trade. In April, Trump imposed a 25% tariff on European automobile imports, prompting Ferrari in late March to raise prices on some models by 10% in an effort to offset the added costs.
While Trump issued a partial rollback of certain overlapping duties—including extra tariffs on steel and aluminum—analysts say the core automobile import tariff remains in effect, posing a continuing risk to European carmakers.
Ferrari’s 2025 financial guidance projects adjusted earnings per share of €8.6, net sales exceeding €7 billion, and EBITDA of at least €2.68 billion. The company’s ability to maintain that trajectory, however, may hinge on the evolving U.S.-EU trade environment.
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
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An international academic conference titled "Islamophobia: Exposing Prejudice and Destroying Stigma" has officially opened in the capital of Azerbaijan, bringing together global scholars, experts, and policymakers to address the rise and consequences of anti-Muslim discrimination.
Türkiye’s first floating natural gas production platform, Osman Gazi, reached Filyos Port in Zonguldak on May 31.
Authorities in Whatcom County, Washington, issued a warning Friday after a truck carrying honey bee hives overturned near the Canadian border, initially prompting fears that millions of bees had been released.
German Chancellor Friedrich Merz will travel to Washington next week to meet U.S. President Donald Trump.
Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
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