ON TRACK TO REACH THE TOP END OF THE FULL YEAR GUIDANCE ON ALL METRICS
Ferrari N.V. (NYSE/MTA: RACE) today announces its consolidated preliminary results for the third quarter and nine months ended September 30, 2020,summarized below:
- Total shipments of 2,313 units, down by 161 units versus prior year, driven by production cadence
- Net revenues of Euro 888 million, decreased by 3.0% with core business revenues up 2.6% driven by the deliveries of the Ferrari Monza SP1 and SP2
- EBITDA of Euro 330 million, up 6.4% versus prior year, with an EBITDA margin of 37.2%, up 330 basis points due to favorable mix / price and cost containment measures
- EBIT of Euro 222 million essentially in line with prior year, with an EBIT margin of 25.0%
- Positive Industrial free cash flow generation of Euro 77 million
2020 Guidance revised to the top end of the August 3rd guidance subject to trading conditions unaffected by further Covid-19 pandemic restrictions.
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