MILAN – Ferrari beat earnings forecasts and reported record orders for the second quarter, boosting luxury sport car Manufacturers raise full-year targets, like Portofino USA and the F8 family car models boosted sales.
Italian company, famous for its roaring engines that deliver super powercars with a price tag starting at more than 200,000 euros ($205,000), in June launched its new business plan, with the promise of generating electricity and mixture car80% of them have models in 2030..
Shipments in the April-June quarter were up 29%, with deliveries more than doubling in China up to 358 units.
The carThe manufacturer said hybrid models accounted for 17% of its shipments during that period, when first deliveries started at 275,500 euros ($280,000). 296 GTBadded SF90 Stradalethe company’s first combination car.
Ferrari said it now expects adjusted earnings before interest, taxes, Depreciation and depreciation (EBITDA) from 1.70 billion euros to 1.73 billion euros this year, up from the previous forecast of 1.65-1.70 billion euros.
“The quality of the first six months and the soundness of our business allows us to revise our guidance from 2022 on all indicators,” Chief Executive Officer Benedetto Vigna said in a statement. Father.
Vigna, who was in charge of Ferrari last September, added: “Net orders also hit a new record in the (second) quarter.
Ferrari says demand is still growing even as most of its models are now sold out.
Adjusted EBITDA for the second quarter rose 15% to 446 million euros, topping a forecast of 427 million euros in a Reuters poll.
However, profit margin on adjusted EBITDA fell to 34.6% in the quarter, from 37.4% a year earlier, partly due to industrial cost inflation, the company said.
Ferrari’s Milan-listed shares fell 0.1% at 13:20 GMT, outperforming Italian blue-chip index.
Ferrari has promised to deliver its first all-electric car car in 2025, one of 15 new models it plans to launch between 2023 and 2026.
But in September it will be the much awaited first announcement utility sports car (SUV), called Purosangue, “pure” in Italian, powered by its gas-guzzling V-12 Brand engine.
Ferrari said on Tuesday that it expects to start production of the Purosangue – along with it’s 840 Horsepower Daytona SP3 Icona-series car – in 2022 and delivery in 2023.
