MILAN (Reuters) -Core earnings rose 15% in the first quarter at luxury sports-car maker Ferrari on a richer product line-up and demand for personalisations, the company said on Tuesday, although it reiterated U.S. tariffs could hit profitability this year.
The result was driven by the deliveries of the SF90XX family, the 12Cilindri and the 499P Modificata models, the company said in a statement, as well as a positive country mix driven by sales in the Americas.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) amounted to 693 million euros ($784 million) in the January-March period, broadly matching an analyst consensus of 689 million euros in a Reuters poll.
In the quarter, vehicle shipments were barely unchanged to 3,593 units.
This underscores “a strong profitability driven by our product mix and continued demand for personalisations,” Chief Executive Benedetto Vigna said in a statement.
Personalisations refer to touches customers request to make their cars more suited to their tastes, both inside and out.
Milan-listed shares were down 1% by 1120 GMT.
Ferrari on Tuesday confirmed its forecasts for its full-year results, including those for its adjusted EBITDA growing to at least 2.68 billion euros and for an EBITDA margin of at least 38.3%.
However, it confirmed its forecast was subject to a potential negative impact of 50 basis points on profitability percentage margins due to ongoing U.S. tariff policies.
($1 = 0.8835 euros)
(Reporting by Giulio Piovaccari, editing by Gavin Jones and Louise Heavens)
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