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FERRARI N.V.

(RACE)
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Ferrari's Revenue, Earnings Jumped in 2Q

08/02/2021 | 05:26am EDT

By Kim Richters

Ferrari NV said Monday that revenue and earnings rose in the second quarter of 2021 and it lifted part of its guidance for the year.

Net profit came in at 206 million euros ($244.5 million) for the period ended June 30, compared with EUR9 million a year earlier, the Italian sports-car maker said.

Earnings before interest, taxes, depreciation and amortization rose to EUR386 million from EUR124 million, while earnings before interest and taxes increased to EUR274 million from EUR23 million.

Revenue for the period soared 81% to EUR1.04 billion.

Ferrari said results reflected higher shipments than the year-earlier period when business was strongly affected by the coronavirus pandemic, and were also boosted by factors such as a richer product mix and higher contribution from personalizations.

For 2021, the car maker backed part of its prior guidance, expecting annual revenue of around EUR4.3 billion and adjusted Ebitda of between EUR1.45 billion and EUR1.50 billion.

The company raised its full-year guidance for industrial free cashflow, assuming unaffected trading conditions and targeting EUR450 million, instead of around EUR350 million before.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

08-02-21 0726ET

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Analyst Recommendations on FERRARI N.V.
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Financials
Sales 2021 4 276 M 5 001 M 5 001 M
Net income 2021 789 M 923 M 923 M
Net Debt 2021 1 408 M 1 646 M 1 646 M
P/E ratio 2021 43,4x
Yield 2021 0,61%
Capitalization 34 184 M 40 057 M 39 985 M
EV / Sales 2021 8,32x
EV / Sales 2022 7,71x
Nbr of Employees 4 560
Free-Float 48,4%
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Technical analysis trends FERRARI N.V.
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TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 10
Last Close Price 185,58 €
Average target price 182,53 €
Spread / Average Target -1,64%
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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