And during the last weekend, we won the 24 hours of Daytona in GTD Pro class with our 296 GT3 cars, definitely a great start to the 296 careers. On top we have just announced that we are expanding our presence in the racing world with intention of setting records also by racing on the sea of the entire world. In sports cars, we will inaugurate the e-building in June, exactly two years later than the last Capital Markets Day. We will further enrich the product offering with three new model launches. And we will continue to announce our client experiences, both on track and on road, not only on brand new cars but also taking care of Ferrari’s owning pre-owned models with tailored events. In our history, we crafted about 250 different models of Ferrari and for us they are all equally important.
They are all our kids. In lifestyle, in 2024 will be the year of progress with an array of activities designed to build the scale while elevating and expanding visibility. Among our priorities, we continue to focus on our carbon neutrality journey, which is further boosted by the ultimate goal to shutdown the three generators within the next 18 months. We look ahead at 2024 with energy, agility and confident community, but above all with enthusiasm for the new exciting challenges in front of us. And now, I hand over to Antonio to review the 2023 results and 2024 guidance.
Antonio Picca Piccon: Thank you, Benedetto, and good morning or afternoon to everyone joining us today. Starting on Page 7, we present the highlights of the results for the entire 2023. As Benedetto just mentioned, 2023 was another record year for our company with all financial metrics once again growing double digit and with a significant margin expansion of 3 percentage points at the EBIT level and even more at the EBITDA level. Even if our four year plan from the last Capital Markets Day is rather front loaded by design, such results went beyond our expectations considering the modest shipments increase and the inflation headwind affecting our input costs, a visible real life application of the obsession to privilege value upon volume and to control our locations to promote exclusivity.
Let’s dive into the details to try and shed some light on our path forward. Our strong business performance in 2023 was sustained by three main factors, a rich product mix per se, further emphasized by a surprisingly strong personalization uptick, coupled with a favorable country mix. These led to revenues up 17%, adjusted EBITDA growing roughly 28.5% that is EUR500 million with a very solid margin standing at 38.2%. Adjusted EBIT up approximately 32% with a yearly record 27.1% margin. Net profit of EUR1,260 million, leading to an adjusted diluted earnings per share of EUR6.9 from less than EUR5.1 last year. Of a particular note was the industrial free cash flow generation which reached EUR932 million. Moving to Page 8. You can see the details of the full year shipment.
In the year, deliveries increased less than 450 units after two post pandemic years of strong double digit increase. As usual, geographies reflect our choices of volume and product allocation in the different markets. EMEA and the Americas were up versus prior year, representing more than 70% of our total shipments. Rest of APAC was almost flat at 17% and Mainland China, Hong Kong and Taiwan reduced their share by EUR0.02 of units to 11% in line with our long term targets for this area, considering its relative use and evident dilution impact on our percentage margins. Shifting to the product. The most significant change in the year was doubling of the idle share to 44% of the total volumes underpinned by the growth of the SF90 and 296 family.
The highly anticipated Purosangue ramped up during the second half of the year to finally reach its cruising altitude in 2024. The Roma Spider, which was unveiled in the first quarter, already commenced and delivered in the last quarter of 2023. Special series represented by the 812 Competizione increased compared to one year ago, thanks to the deliveries of the Aperta version while Daytona SP3 shipments continued according to our plans between 30 and 40 units per quarter. Lastly, in the year, the F8 finally concluded its life cycle with the Portofino was also approaching its end. On Page 9, you can see the net revenues bridge posting a robust 17% growth versus prior year also at constant currency. The increasing cars and spare parts was evidently the main contributor, driven by the richer mix, personalization, pricing and likely higher volume.
Price increases during the year were differentiated by product and geography in accordance with the decisions taken in the second half of 2022 to protect our margin from the surge of inflation. Personalizations continued to strengthen and in the last quarter, we witnessed a consolidation of the trend registered in the first nine months. In 2023, personalizations stood at approximately 19% in proportion to revenues from cars and spare parts, mainly driven by paint, liveries and the use of carbon. Sponsorship, commercial and brand reflected higher sponsorships, including Formula 1 and World Endurance Championship racing activities, higher Formula 1 commercial revenues and the better ranking achieved in 2022 compared to 2021, as well as the growing contribution from lifestyle activities.
Engines revenues declined in line with the reduction of supplies of Maserati whose contract expired at the end of 2023. Therefore, from the first quarter 2024 onward, any residual contribution from the sales of engine and spare parts, whether for sport cars or racing, will be reported in the bar, named others. Currency had a small negative net impact, mainly reflecting the opposite dynamics of the US dollar, Japanese Yen and Chinese Yuan. Moving to Page 10. The change in adjusted EBIT is explained by the following variances; volume, positive and reflecting the limited increase in shipments; mix and price also positive and very strong for EUR461 million, thanks to very favorable product mix sustained by the Daytona SP3, the 812 Competizione and the SF90 families; country mix driven by the Americas and Mainland China, Hong Kong and Taiwan despite the small decrease in deliveries in the year and to the increased contribution from personalization and pricing.
