Ferrari Sees Profit Rising This Year on Continued Sales Rebound

(Bloomberg) -- Ferrari NV forecast a rise in earnings this year in line with expectations as the luxury carmaker works through disruption from the pandemic on top of unexpectedly searching for a new chief executive officer.

• Ferrari sees adjusted earnings before interest, tax, depreciation and amortization of 1.45 billion euros (1.74 billion euros) to 1.5 billion euros this year, the manufacturer said Tuesday in a statement. That compares with an average analysts’ estimate of 1.48 billion euros.
• Adjusted Ebitda rose to 372 million euros during the fourth quarter. That topped an analysts’ average estimate of 364 million euros.

Key Insights

Market Reaction

• Ferrari shares were flat in Milan trading to 176.3 euros at 12:51 p.m.

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• Ferrari Sees 2021 Adj Ebitda EU1.45B to EU1.50B, Est. EU1.48B
• Bloomberg Intelligence’s outlook on Ferrari

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