Lamborghini's half-year operating profit slips on currency effects

MILAN (Reuters) -Italian luxury sports car maker Lamborghini said on Wednesday its operating income fell slightly in the first half even as it delivered record numbers of cars to customers, as currency effects weighed on its bottom line.

Operating income stood at 431 million euros ($497 million) in the January to June period versus 458 million euros a year earlier, primarily due to unfavourable exchange rate trends in the second quarter, the company said in a statement.

"The results... are solid despite global economic and political instability," CEO Stephan Winkelmann said.

Net revenues amounted to 1.62 billion euros in the period as the carmaker, part of Germany's Volkswagen, delivered 5,681 cars, its highest amount ever for a first half.

Its operating profit margin fell to 26.6% from 28.3% a year earlier.

Winkelmann said the results confirmed that a decision to make all Lamborghini's range hybrid was the right one, as shown by the success of the Revuelto sportscar, its first plug-in hybrid, launched in 2023, and of the Urus SE SUV.

"Our vision is shared by our customers," he said. "We now look forward to the market launch of the Temerario, which will complete the first fully hybrid range in the segment".

Lamborghini, based near Bologna in Northern Italy, did not make any reference to Sunday's EU-U.S. framework trade deal, which imposed a 15% U.S. import tariff on most EU goods, despite the Americas region accounting for around 30% of its deliveries in the first half, or 1,732 cars.

The Europe, Middle East and Africa region led deliveries in the period with 2,708 units, while Asia Pacific accounted for 1,241 units.

Earlier this year Winkelmann said U.S. tariffs would have an impact on Lamborghini's revenue even though luxury product makers can pass on potential tariffs to customers, as there was a "sweet point" beyond which "you lose volumes".

($1 = 0.8672 euros)

(Reporting by Laura Contemori and Giulio Piovaccari; Editing by)

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