2019 PERFORMANCE CONFIRMS STRONG MOMENTUM
2020 GUIDANCE UPGRADING PREVIOUS PLAN ACROSS ALL METRICS
Ferrari N.V. (NYSE/MTA: RACE) today announces its consolidated preliminary results for the twelve months ended December 31, 2019, summarized as follows:
- Total shipments of 10,131 units, up +9.5%
- Net revenues of Euro 3,766 million, up +10.1% or +8.2% at constant currency
- Adj. EBITDA of Euro 1,269 million, up +14.0% with an Adj. EBITDA margin of 33.7%
- Adj. diluted EPS of Euro 3.71 (+9.1%)
- Industrial free cash flow generation of Euro 675 million boosted by advances on the Ferrari Monza SP1 and SP2
Upgraded 2020 Guidance vs. Plan:
- Net revenues: > Euro 4.1 billion (from > Euro 3.8 billion)
- Adj. EBITDA: Euro 1.38-1.43 billion (from > Euro 1.3 billion)
- Adj. EBIT: Euro 0.95-1.0 billion (from > Euro 0.9 billion)
- Adj. diluted EPS: Euro 3.90-3.95 per share (from > Euro 3.40 per share)
- Industrial free cash flow: ≥ Euro 0.4 billion (from > Euro 0.4 billion)