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/File Photo

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 amortization (EBITDA) for October-December rose to 274 million euros ($314 million), 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.

($1 = 0.8714 euros)

Reporting by Agnieszka Flak

The put upFerrari fourth-quarter core earnings up 6 percent, shares riseappeared first on Reuters

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