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Ferrari points to higher profits this year after record 2021 shipments -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : A wheel hub on a Ferrari SF90 Stradale hybrid sportscar is covered in the logo of the company during a media preview held at Auto Zurich Car Show. Zurich, Switzerland. November 3, 2021. REUTERS/Arnd Wiegmann

MILAN, (Reuters) – Ferrari (NYSE) announced Wednesday that its core earnings would increase this year following strong financial results and record shipments in 2021.

According to the Italian company, adjusted earnings before tax, interest and amortization (EBITDA), were 1.65-1.70 Billion Euros this year. That’s up from 1.53Billion euro ($1.73 Billion in 2021.

Last year’s results were in line with the company’s forecast of 1.52 billion euro.

After results were released, Ferrari shares listed in Milan were able to trim losses and fell 0.6% at 1150 GMT.

($1 = 0.8842 euros)

 

 

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