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Ferrari ups 2021 EBITDA guidance after first results under new CEO Vigna -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Ferrari Roma is unveiled throughout its first world presentation in Rome, Italy, November 14, 2019. REUTERS/Guglielmo Mangiapane/File Picture

MILAN (Reuters) – Sports activities automobile maker Ferrari (NYSE:) mentioned on Tuesday it could elevate this yr’s core earnings forecast after a powerful set of leads to the third quarter, the primary since new Chief Government Bendetto Vigna began in his function.

Ferrari mentioned its full-year adjusted earnings earlier than curiosity, tax, depreciation and amortization (EBITDA) in 2021 would come at round 1.52 billion euros ($1.76 billion), greater than the earlier steering of between 1.45-1.50 billion euros.

“The robust third quarter outcomes are an essential step ahead in direction of the upward revised 2021 steering,” Vigna mentioned in a press release, including the corporate was seeing a “report order consumption” worldwide, significantly in China and the U.S.

($1 = 0.8620 euros)

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