FERRARI PORTOFINO DRIVES SOLID Q1 2019 RESULTS.
FIRING ON ALL CYLINDERS WITH THE FERRARI F8 TRIBUTO, FIRST OF 5 MODELS TO BE UNVEILED IN 2019.
Ferrari N.V. (NYSE/MTA: RACE) today announces its consolidated preliminary results for the first quarter ended March 31, 2019, summarized below:
- Total shipments of 2,610 units, up +22.7%
- Net revenues of Euro 940 million, up +13.1% or +11.1% at constant currency
- Adj. EBITDA of Euro 311 million, up 14.1% and reaching an EBITDA margin of 33.1% consistent with 2019 guidance
- Adj. diluted EPS of Euro 0.95 (+21.8%)
- Industrial free cash flow generation of Euro 282 million, including the positive cash impact from advances on the Ferrari Monza SP1 and SP2
The Group confirmed the following performance targets for 2019:
- Net revenues: > Euro 3.5 billion, over 3% growth versus 2018
- Adj. EBITDA: Euro 1.2-1.25 billion, approx. 10% growth versus 2018
- Adj. EBIT: Euro 0.85-0.9 billion, approx. 6% growth versus 2018
- Adj. diluted EPS: Euro 3.50-3.70 per share, approx. 6% growth versus 2018
- Industrial free cash flow: ~ Euro 0.45 billion, over 10% growth versus 2018
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