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OFFON

FERRARI N.V.

(RACE)
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Ferrari, Continuing Strong Momentum Across All Regions

08/02/2021 | 06:37am EDT

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:

        • Total shipments of 2,685 units, almost doubled versus prior year and up 0.5% versus Q2 2019
  • 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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Financials
Sales 2021 4 280 M 5 019 M 5 019 M
Net income 2021 788 M 924 M 924 M
Net Debt 2021 1 408 M 1 650 M 1 650 M
P/E ratio 2021 43,1x
Yield 2021 0,61%
Capitalization 34 004 M 39 869 M 39 869 M
EV / Sales 2021 8,27x
EV / Sales 2022 7,67x
Nbr of Employees 4 560
Free-Float 48,4%
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Technical analysis trends FERRARI N.V.
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Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 10
Last Close Price 184,55 €
Average target price 182,31 €
Spread / Average Target -1,22%
EPS Revisions
Managers and Directors
Benedetto Vigna Chief Executive Officer
Antonio Picca Piccon Chief Financial Officer
John Jacob Philip Elkann Executive Chairman
Michael Hugo Leiters Chief Technology Officer
Eduardo H. Cue Independent Non-Executive Director
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