Ferrari fourth quarter core earnings up 6 percent, shares rise

FILE PHOTO - A group of Ferrari owners park their cars to show on display at the SVGT car enthusiast gathering in San Diego, California, U.S., April 28, 2018 REUTERS/Mike Blake - Copyright Mike Blake(Reuters)

By Reuters

Published on 31/01/2019 - 12:34•Updated 25/04/2024 - 05:31

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MILAN (Reuters) - Italian luxury maker Ferrari on Thursday posted an expected 6 percent rise in fourth-quarter core earnings, helped by positive performance from across its regions.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for October-December rose to 274 million euros (240 million pounds), in line with an analyst consensus, according to Refinitiv data. Sales were up 1 percent at 845 million euros.

For 2019, Ferrari forecast adjusted EBITDA rising around 10 percent to between 1.2-1.25 billion euros compared to last year, while full-year revenues are seen growing more than 3 percent to more than 3.5 billion euros.

(Reporting by Agnieszka Flak)

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