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Ferrari Third-quarter Earnings Rise on Higher Sportscar Shipments

3 years ago1 views

Luxury carmaker Ferrari, which debuted on Wall Street last week, on Wednesday reported a 22% rise in third-quarter adjusted core profit, as a jump in sportscar shipments offset lower sales of engines to sister brand Maserati. Ferrari said adjusted earnings before interest, tax, depreciation and amortisation for the third quarter rose to 213 million euros, while revenues increased 9% to 723 million euros. Shipments in the quarter were up 21% to 1,949 vehicles. Parent Fiat Chrysler Automobiles sold 10% of Ferrari in an IPO, securing the maker of supercars such as the 1 million euro LaFerrari a stock market value of $9.8 billion.

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