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Ferrari’s Profits Surge
Ferrari NV sold 2,000 cars in the first quarter, boosting revenue 22% to €821 million ($898 million) and hiking net profit 60% to €124 million ($136 million).
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Ferrari NV sold 2,000 cars in the first quarter, boosting revenue 22% to €821 million ($898 million) and hiking net profit 60% to €124 million ($136 million).
The iconic supercar maker reports its earnings before interest, taxes, depreciation and amortization climbed 36% to €242 million ($265 million). The company also trimmed its net industrial debt 11% to €578 million ($632 million).
Ferrari generates half its sales in Europe and the Middle East. The Americas account for about 25% of total volume. The company expects to sell 8,400 cars in 2017, generate more than €3.3 billion in net revenue and achieve adjusted EBITDA greater than €950 million ($1 billion).
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