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Ferrari Posts 20% Hike in Net Profit
Ferrari NV reports its third-quarter net revenue rose 8% to €783 million, and net profit grew 20% to a record €113 million.
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Ferrari NV reports its third-quarter net revenue rose 8% to €783 million, and net profit grew 20% to a record €113 million. Unit sales advanced 2% to nearly 2,000 units.
The company’s adjusted earnings before interest tax, depreciation and amortization for July-September grew 10% to €234 million.
Ferrari, which was spun off in January from Fiat Chrysler Automobiles NV, now expects a full-year adjusted EBITA of about €850 million, up from its previously guidance of €800 million. The company expects to sell 8,000 cars and generate €3 billion in revenue this year.
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