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Ferrari confirms FY guidance as news CEO takes the wheel

apr-news-Ferrari-Headquarter
Wednesday, 1 August 2018

Ferrari confirms FY guidance as news CEO takes the wheel

REUTERS - Italian supercar maker Ferrari (RACE.MI) reported a 7 percent rise in second-quarter adjusted core earnings, helped by sales of the 812 Superfast model and the 488 family, and confirmed its outlook for the full year.

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In the first set of results presented by newly-appointed Chief Executive Louis Camilleri, the company said adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose to 290 million euros ($339 million) in the quarter, in line with a Thomson Reuters SmartEstimate of 286 million euros.

Profit margins rose to 31.9 percent from 29.4 percent.