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
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data