Mexican Media Brands
Ferrari’s Revenue, Core Earnings Climb
Ferrari NV reports that its shipments of its supercars in the second quarter rose 8% to 2,700 units. Net revenue climbed 9% to €984 million ($1.1 billion).
#economics
Share
Ferrari NV reports that its shipments of its supercars in the second quarter rose 8% to 2,700 units. Net revenue climbed 9% to €984 million ($1.1 billion).
Sales for the period surged more than 60% in China, Hong Kong and Taiwan. They grew 11% in Europe but fell 6% in the Americas.
Ferrari’s adjusted earnings before interest, taxes, depreciation and amortization in April-June rose 9% to €314 million ($352 million).
The company affirms its previous guidance for the full year. The company anticipates revenue will grow at least 3% to more than €3.5 billion. Adjusted pretax earnings are expected to reach about €900 million, with a margin of about 24.5%.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.