Milan — ferrari It raised its forecasts for full-year revenue and core profit after posting what it described as record results in the second quarter and said its order book hit new highs.
“The quality of the first six months and the strength of our business allow us to revise all indicators for 2022,” said CEO Benedetto Vigna. said in a statement on Tuesday,
“In addition, net order intake reached a new record high in the (second) quarter,” said Vigna, who took charge of Ferrari last September.
The company guided for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of between 1.70-1.73 billion euros this year, compared to a previous forecast of between 1.65-1.70 billion euros.
Adjusted EBITDA rose 15 percent to 446 million euros ($456 million) in the April-June period.
Margins on adjusted EBITDA, however, fell to 34.6 per cent in the quarter, from 37.4 per cent a year ago.
Ferrari launched its new business plan in June, promising to model 80 percent of electric and hybrid cars by 2030.