Mexican Media Brands
Ferrari’s Net Profit Jumps 18%
Ferrari NV says its revenue slipped 2% in the second quarter, but adjusted net profit surged 17%.
#economics
Share
Ferrari NV says its revenue slipped 2% to €906 million ($1.6 billion) in the second quarter, but adjusted net profit surged 17% to €159 million ($185 million).
The supercar company shipped 2,500 cars in April-June compared with 2,300 in the same period last year. The carmaker reports that its profit margin in the second quarter grew to 31.9% from 29.4% in the same period of 2017.
Ferrari affirms its performance outlook for the current year. The company expects to ship more than 9,000 cars, generate revenue greater than €3.4 billion and post adjusted earnings before interest, taxes, depreciation and amortization of at least €1.1 billion.
In February, Ferrari predicted it will double its core earnings to €2 billion by 2022. The company plans to present its strategy to do so during a two-day analysts session in mid-September.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.