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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

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