A Ferrari logo is being installed connected a Ferrari car astatine Ferrari's caller 'e-building' installation wherever the luxury sportscar shaper is investigating lines earlier an expected commencement of car accumulation successful aboriginal 2025, successful Maranello, Italy, June 21, 2024.
Daniele Mascolo | Reuters
Ferrari said connected Tuesday its halfway net roseate 7% successful the 3rd quarter, contempt a flimsy alteration successful car shipments, arsenic the luxury sports car shaper continued to payment from a richer merchandise connection and accrued request for personalization.
Milan-listed shares successful the company, however, extended losses aft the results were published, arsenic Ferrari did not upgrade the forecasts for its full-year results it provided successful August, including for adjusted EBITDA increasing to astatine slightest 2.5 cardinal euros ($2.7 billion).
Its shares were down 3.3%. The shares person risen by much than 40% this year.
Ferrari said successful a connection it was present adjacent much assured of hitting its full-year targets.
In the July-September period, the Italian institution posted adjusted net earlier interest, tax, depreciation and amortization (EBITDA) of 638 cardinal euros, matching analysts' mean forecast of 635 cardinal successful a Reuters poll.
A richer merchandise offer, including stronger pricing power, brought a 60 cardinal euro affirmative publication to the quarterly result, the institution said successful a statement.
This was supported by request for the 2-million euro, 12-cylinder Daytona SP3, arsenic good arsenic a "few sales" of the constricted series, track-only 499P Modificata, which costs 5.1 cardinal euros.
Chief Executive Benedetto Vigna added the institution enjoyed "exceptional bid publication visibility good into 2026."
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