Ferrari: raises FY guidance

(CercleFinance.com) - On Tuesday Ferrari raised its FY financial targets following a stronger-than-expected rise in its H1 results.


The Italian sports car maker now expects adjusted EBITDA of 1.70 to 1.73 billion euros this year, (up from 1.65 billion to 1.70 billion euros previously).

The company has increased its annual sales target to around 4.9 billion euros, compared with a previous forecast of around 4.8 billion euros.

Ferrari's H1 adjusted Ebitda rose 17% to 630 million euros, compared with the consensus of 622 million euros.

Meanwhile, H1 net sales rose 21% to 2.48 billion euros, helped by a 23% increase in vehicle deliveries to 6706 units.

However, these seemingly rosy figures appeared to have no impact on the share, which was down over 0.5% on Tuesday after their release.


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