Ferrari said on Thursday that 2017 was "another record year" for the Italian luxury car maker, as it is raced into the pole position for increased profitability and output again this year and a further reduction in its debt. Ferrari said in a statement that its net profit jumped by 34 percent to €537 million last year, outpacing analysts' expectations.

Underlying or adjusted operating profit sped ahead by 18 percent to €1.036 billion and revenues grew by 10 percent to €3.417 billion as the number of cars delivered rose by 4.8 percent to 8,398. Investors feted the numbers, with Ferrari's shares shifting up 4.8 percent to €100.70 on the Milan stock exchange.