Ferrari: net profit up 24% in 2017 as shipments rise
(CercleFinance.com) - Italian luxury sports car maker Ferrari reported a 24% rise in 2017 net profit on Thursday, driven by the sales of its most powerful cars.
Ferrari said adjusted EBITDA rose to 1,036 million euros last year, from 880 million euros in 2016.
Revenues were up 5% to 8.4 billion euros, on the back of shipments that grew by 4.8% to 8,398 units, mostly helped by the sales of 12 cylinder models.
For 2018, the group is expecting shipments to exceed the 9,000 mark, with an adjusted EBITDA of at least 1.1 billion euros.
By 2022, the Maranello-based group targets an adjusted Ebitda of 2 billion euros.
Listed in New York, Ferrari shares were up 5% in pre-market trading after this positive guidance.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Ferrari said adjusted EBITDA rose to 1,036 million euros last year, from 880 million euros in 2016.
Revenues were up 5% to 8.4 billion euros, on the back of shipments that grew by 4.8% to 8,398 units, mostly helped by the sales of 12 cylinder models.
For 2018, the group is expecting shipments to exceed the 9,000 mark, with an adjusted EBITDA of at least 1.1 billion euros.
By 2022, the Maranello-based group targets an adjusted Ebitda of 2 billion euros.
Listed in New York, Ferrari shares were up 5% in pre-market trading after this positive guidance.
Copyright (c) 2018 CercleFinance.com. All rights reserved.