1/31/2019

Ferrari Earnings Rise 6%

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Ferrari NV reports that its vehicle shipments climbed 10% to 9,300 supercars in 2018. evenue was flat at €3.4 billion ($3.9 billion) as the iconic brand strove to shift sales to more profitable models.

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Ferrari NV reports that its vehicle shipments climbed 10% to 9,300 supercars in 2018.

Revenue was flat at €3.4 billion ($3.9 billion) as the iconic brand strove to shift sales to more profitable models. But adjusted earnings before interest, tax, depreciation and amortization grew 8% to €1.1 billion ($1.3 billion).

The company predicts a richer sales mix will hike its adjusted EBITDA about 10% to €1.2 billion this year and to €2 billion no later than 2022. 

The company unveiled four new models last year, including the €1.6 million ($1.8 million) open-air Monza (pictured), and has five more scheduled to roll out in 2019.