The Business Times
business-time-50

Ferrari lifts year forecasts after strong Q3 results

Ilyas Salim

Published Wed, Nov 2, 2022 · 09:48 PM
    • The company said its adjusted earnings before interest, tax, depreciation and amortization (Ebitda) would grow this year to over 1.73 billion euros (S$2.4 billion).
    • The company said its adjusted earnings before interest, tax, depreciation and amortization (Ebitda) would grow this year to over 1.73 billion euros (S$2.4 billion). PHOTO: REUTERS

    LUXURY sports car maker Ferrari said it was improving its forecasts for full-year results – including for core earnings – after beating expectations in the third quarter, supported by a double-digit increase in shipments.

    In a statement on Wednesday (Nov 2), the company said its adjusted earnings before interest, tax, depreciation and amortization (Ebitda) would grow this year to over 1.73 billion euros (S$2.4 billion), versus an already improved forecast of 1.7 to 1.73 billion euros it provided three months ago.

    Milan-listed shares in Ferrari briefly turned positive after results were published, but were down 0.8 per cent by 1216 GMT. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Ferrari

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Tuas Port began operations in September 2022 and will continue to grow in phases towards its completion in the 2040s.

    Green fuels, autonomous ships: How Singapore is future-proofing its shipping industry

    US Trade Representative Jamieson Greer said he did not want to prejudge the outcome of a pending Section 301 investigation into China’s trade practices.

    US trade chief to consider trade deal tariff caps in excess capacity probe

    From shy teenager to outspoken philanthropist, Chloe Tong has come a long way.

    Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose

    Ang’s San Miguel holds nearly 25% of Luzon’s installed capacity and Lopez’s First Gen accounts for 12%.

    Deal between tycoon friends sparks scrutiny of Philippine power sector

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More