The sports car manufacturer Ferrari exceeded the experts’ expectations – and ultimately earned 206 million euros in the second quarter. Nevertheless, the share initially slipped in Milan.
The Italian luxury sports car manufacturer Ferrari benefited from a strong increase in demand in the second quarter and earned significantly more.
The company delivered almost twice as many cars as in the corona-related very weak quarter of the previous year, and sales rose by 81 percent to just over a billion euros, as the company in Maranello announced. Adjusted for special effects, earnings before interest, taxes, depreciation and amortization tripled to 386 million euros, exceeding the experts’ expectations. The bottom line was that the Italians earned 206 million euros after 9 million euros a year ago.
However, the share initially slipped in Milan. Jefferies analyst Philippe Houchois wrote that the outlook was only confirmed. Chairman of the board of directors John Elkann from the Agnelli family, who is currently also temporarily chairing the board, merely raised expectations of the free inflow of funds this year in the forecast. On September 1st, STMicro manager Benedetto Vigna takes over the business.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
