Ferrari’s new CEO confirms full year guidance

Ferrari’s reported an EBITDA of $339 million, in line with Thomson Reuters SmartEstimate of 286 million euros.

On Wednesday, Ferrari confirmed its full year outlook based on a 7% rise in its core second-quarter adjusted earnings which were largely helped by the sales of its 812 Superfast model and those from its 488 family.

Ferrari’s newly appointed CEO, Louis Camilleri stated the carmaker’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose to $339 million (290 million euros) in the second quarter, which is in line with a Thomson Reuters SmartEstimate of 286 million euros.

Ferrari’s profit margins rose to 31.9% from its previous 29.4%.

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