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Ferrari Posts 29% Profit Gain
Ferrari NV generated a record second-quarter profit of €97 million ($109 million) in the second quarter, up 30% year on year.
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Ferrari NV generated a record second-quarter profit of €97 million ($109 million) in the second quarter, up 30% year on year. Adjusted net profit surged 35% to €104 million ($117 million).
Sales by the iconic carmaker, which spun off from Fiat Chrysler Automobiles NV in January, grew 8% to 2,200 cars. Revenue rose 6% to €811 million ($910 million). Earnings before interest and taxes gained 20% to €146 million ($164 million).
Ferrari confirms its 2016 outlook for sales of about 8,000 cars, net revenues greater than €3 billion and adjusted earnings before interest, taxes, depreciation and amortization of at least €800 million.
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