The company on Thursday guided for its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) growing this year to at least €2.25bn (about R44bn), versus a previous and already improved forecast of between €2.19bn and €2.22bn (R42.8bn-R43.45bn).
Milan-listed shares were up 3.6% by 12.35pm GMT, not far from their highs on Thursday.
In the July-September period, Ferrari's adjusted EBITDA grew 37% to €595m (R11.6bn), topping analyst expectations of €560m (R10.95bn), according to a Reuters poll.
Analysts at Citi said in a note that Ferrari earnings beat estimates in the third quarter through revenue and despite lower margins compared to the previous quarter.
“Growth momentum remains positive,” they said.
Its margin on adjusted EBITDA fell to 38.6% from 40.0% in the April-June quarter.
Ferrari nudges up 2023 forecasts after a power third quarter
Image: SUPPLIED
Luxury sports car maker Ferrari on Thursday slightly raised its forecasts for its full-year core earnings, after beating estimates with its third-quarter results.
Profit growth was driven by a richer product mix and pricing power and the continuing appeal for added personalisation of vehicles.
This led the Italian company to improve its forecasts, CEO Benedetto Vigna said.
“The order book remains at highest levels, reflecting strong demand across all geographies, covering the entire 2025,” he said in a statement.
Ferrari said models of its hybrid 296 and SF90 families drove its deliveries in the third quarter, while the 812 Competizione A and the Purosangue four-seater were in ramp up phase.
The company on Thursday guided for its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) growing this year to at least €2.25bn (about R44bn), versus a previous and already improved forecast of between €2.19bn and €2.22bn (R42.8bn-R43.45bn).
Milan-listed shares were up 3.6% by 12.35pm GMT, not far from their highs on Thursday.
In the July-September period, Ferrari's adjusted EBITDA grew 37% to €595m (R11.6bn), topping analyst expectations of €560m (R10.95bn), according to a Reuters poll.
Analysts at Citi said in a note that Ferrari earnings beat estimates in the third quarter through revenue and despite lower margins compared to the previous quarter.
“Growth momentum remains positive,” they said.
Its margin on adjusted EBITDA fell to 38.6% from 40.0% in the April-June quarter.
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