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
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
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
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.