Lamborghini Reports a Stronger Financial Performance in Q1 2024
Following a landmark year in 2023 with delivery and profit records, Automobili Lamborghini has wrapped up the first quarter of 2024 with exceptional financial results.
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The company posted a turnover of €691 million and an operating profit of €187 million, yielding a profitability rate of 27.0%. These figures underscore the enduring stability and strategic acumen of the company based in Sant’Agata Bolognese.
Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini, stated: “Through our choices and policies, we aim to realize the positive forecasts outlined for 2024, thus continuing our growth path already highlighted in 2023. The business goals we have set ourselves are supported by investments aimed at the continuous improvement of our products. The start of 2024 represents a significant milestone for Lamborghini with the recent debut of the Urus SE and, in the second half of the year, the presentation of the hybrid heir to the Huracán, and we can only look forward to the achievement of our important objectives.”
Automobili Lamborghini achieved its highest-ever quarterly delivery numbers in this first quarter, with 2,630 cars delivered. Although there was a slight decrease in the US market in the first three months of 2024, it remains the largest market in terms of deliveries. The performance across the board still showcases stellar results. Deliveries across the major regions, EMEA, Americas, and APAC, totaled 1,278, 856, and 496 cars, respectively.
Paolo Poma, Managing Director and CFO of Automobili Lamborghini, expressed that the financial outcomes for the first quarter of 2024 demonstrate the firm’s robust performance. He noted that a strong order book enabled the company to start the year aligned with its 2024 goals. He also added that the constant receipt of orders strengthens their confidence to pursue ongoing projects and supports expectations for further growth as the year progresses.
The results of the first three months illustrate the brand’s resilience and the strategic moves made in 2024. These include adjusting delivery schedules to achieve a more balanced distribution throughout the year.
The order bank remains strong, with Revuelto maintaining a lead time of more than two years and the Huracán, the successor of which will sport a new hybrid powertrain, remaining covered until the end of manufacture. For the Urus S and Performante, the order bank is also fully covered until the close of production, expected by the end of the year.
Automobili Lamborghini starts the second quarter of 2024 with the launch of the new Urus SE, the company’s inaugural hybrid super SUV, which holds great promise for meeting the set targets.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
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Cruise Saudi has officially launched bookings for AROYA Cruises.
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Cruise Saudi started accepting reservations for holidays on the 335-meter floating resort known as AROYA Cruises, set to start its Red Sea journeys in December 2024. This announcement marks the commercial launch of “AROYA Cruises,” with immediate booking available for various trips directly on their website.
The statement from Cruise Saudi highlighted that as the first Arabian cruise line, AROYA Cruises will provide an authentic Arabian experience to its guests, both at sea and on land. The design of the cruise line emphasizes Arabian generosity and showcases Saudi Arabia’s hospitality, focusing on exceptional experiences centered on comfort and luxury.
AROYA Cruises features a 335-meter floating resort equipped with 1,678 cabins, including balcony cabins with sea views, along with luxury suites and villas. The ship can accommodate more than 3,362 passengers and boasts 20 entertainment venues across 18 decks, offering shopping in AROYA’s shops, live performances in the 1,018-seat theatre, and various shows and movies for children.
Moreover, AROYA Cruises offers exclusive VIP experiences, featuring spacious and premium suites, outdoor lounges, and exceptional dining experiences. Tourist trips are planned in the Red Sea for December 2024, which will include visits to AROYA Cruise’s private island as well as destinations in Egypt and Jordan.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
