Ferrari, Continuing Strong Momentum Across All Regions
CONTINUING STRONG MOMENTUM ACROSS ALL REGIONS
Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results for the second quarter and six months ended June 30, 2021. Second quarter results can be summarized as follows:
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- Total shipments of 2,685 units, almost doubled versus prior year and up 0.5% versus Q2 2019
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- Net revenues of Euro 1,035 million, nearly doubled versus prior year and up 5.2% versus Q2 2019
- EBITDA of Euro 386 million, tripled versus prior year and up 23.0% versus Q2 2019. EBITDA margin of 37.4% in Q2 2021.
- EBIT of Euro 274 million versus Euro 23 million of prior year and up 14.8% versus Q2 2019. EBIT margin of 26.5% in Q2 2021.
- Net profit of Euro 206 million and diluted EPS at Euro 1.11
- Sound industrial free cash flow generation of Euro 113 million and guidance for the year improved to approx. Euro 450 million (from approx. Euro 350 million)
Next Capital Markets Day is planned for June 16, 2022 in Maranello.
Commenting on the results, Chairman and Acting CEO John Elkann said: “This excellent second quarter confirms the strength of Ferrari and of its unique business model. With each Ferrari we unveil we are setting new benchmarks for innovation, beauty and distinctiveness which is the only true luxury. As we move towards our 75th anniversary next year, our opportunities have never been wider and greater.”
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