Ferrari upgrades annual guidance as quarterly earnings rev higher

(AWP Alliance News) - Ferrari NV on Tuesday lifted its annual guidance as it reported an increase in third-quarter profit.

However, it reported a decline in shipments, amid weakness in China.

The Maranello, Italy-based luxury car maker said net profit in the third quarter to September 30 shot up 13% to EUR431 million from EUR382 million a year prior.

Earnings before interest, tax, depreciation and amortisation were 12% higher on-year at EUR753 million from EUR670 million.

Net revenue grew 7.4% to EUR1.90 billion from EUR1.77 billion a year earlier.

Revenue was 10% higher at constant currency, supported by 10% growth in its Cars & Spare Parts offering and a 7% increase in the Sponsorship, Commercial & Brand segment. The latter segment includes its famed racing offering.

Ferrari reported shipments of 3,368 in the third quarter, a 1.0% decline from 3,401 a year earlier.

Shipments rose in the Europe, Middle East & Africa segment, and in the Americas. However, they fell in Mainland China, Hong Kong & Taiwan. In the rest of the Asia Pacific region, shipments rose.

Looking ahead, Ferrari now expects annual net revenue of EUR7.65 billion, its guidance upped from EUR7.60 billion. Revenue in 2025 totalled EUR7.15 billion.

It expects an adjusted Ebitda of EUR3.00 billion, its outlook lifted from EUR2.97 billion. It would also represent a rise from EUR2.77 billion in 2025.

Ferrari shares were flat at EUR359.00 in Milan on Tuesday afternoon. The stock fell to as low as EUR347.85 following the earnings, but regained poise after.

By Eric Cunha, Alliance News news editor

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