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Ferrari’s Revenue, Earnings Soar
Ferrari NV reports that its adjusted net profit in the first quarter of 2019 jumped 22% to €180 million ($201 million).
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Ferrari NV reports that its adjusted net profit in the first quarter of 2019 jumped 22% to €180 million ($201 million).
The iconic brand’s unit sales climbed 23% to 2,600 supercars, led by a 31% jump in demand for models powered by V8 engines. Sales of V12 cars advanced 4%. Net revenue in January-March grew 13% to €940 million ($1.1 billion).
Ferrari says its fastest-growing markets in the first quarter were China (+79%), the rest of Asia Pacific (+29%) and the Americas (+27%).
The company reiterates that it expects its full-year revenue will rise 3% to more than €3.5 billion, and pretax earnings will rise 6% to about €900 million ($1 billion).
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