Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
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
-
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.