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Ferrari’s Quarterly Profit Jumps 19% to Record High
Net profits for Ferrari NV climbed 19% to a record €78 million ($90 million) in January-March, the supercar company’s first quarter as an independent company.
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Net profits for Ferrari NV climbed 19% to a record €78 million ($90 million) in January-March, the supercar company’s first quarter as an independent company.
Revenue for the period grew 9% to €675 million ($778 million). Unit sales rose 15% to 1,882 cars, led by gains of 24% in Europe and the Middle East and 16% in China.
Ferrari raised its full-year guidance for earnings before interest, taxes, depreciation and amortization to at least €800 million from a previous forecast of €770 million. The company expects to ship more than 7,900 cars and generate about €3 billion ($3.5 billion) in revenue, up about €100 million from its previous estimate.
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