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After a good third quarter: Ferrari is setting higher annual targets

The Italian Sports car maker Ferrari after an increase in sales in the third quarter, is even more confident about the year as a whole. The earnings before interest and taxes (EBIT) adjusted for special effects should now be around 1.05 billion euros, as the luxury provider announced. So far, 0.97 to 1.02 billion euros were in the plan of the new CEO Benedetto Vigna, who has only been running the company since September. The Ferrari share was last in Milan with 1.6 percent in the red at 207.30 euros. However, it has risen sharply in recent weeks and is still almost 18 percent above its October low.

In the third quarter, Ferrari delivered almost a fifth more cars than a year earlier and increased sales by 19 percent to 1.05 billion euros. The adjusted operating result (EBIT) climbed by 22 percent to 270 million euros and thus more strongly than analysts thought. The bottom line is that Ferrari earned 206 million euros after 171 million a year earlier. (dpa-AFX / gem)

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Lenny Li

I started to play with tech since middle school. Smart phones, laptops and gadgets are all about my life. Besides, I am also a big fan of Star War. May the force be with you!

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