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Ferrari’s Profit Surges 83%
Ferrari NV’s adjusted net profit in October-December jumped 83% to €130 million ($141 million). Unit sales rose 4% to 1,900 supercars, and revenue climbed 12% to €836 million ($905 million).
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Ferrari NV’s adjusted net profit in October-December jumped 83% to €130 million ($141 million). Unit sales rose 4% to 1,900 supercars, and revenue climbed 12% to €836 million ($905 million).
For the full year, adjusted net profit grew 37% to €425 million ($460 million), shipments advanced 5% to 8,000 cars and net revenue expanded 9% to €3.1 billion ($3.4 billion). The company’s adjusted earnings before interest and taxes in 2016 surged 37% to €632 million ($684 million).
Ferrari, which spun off from Fiat Chrysler Automobiles NV a year ago, predicts its vehicle shipments this year will grow 5% about 8,400 units. The company anticipates a 6% gain in revenue and a 45% reduction to €500 million in industrial debt.
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