Press release
278KB
november 02, 2021 - Ferrari
Double digit growth, on the way to another record year
Ferrari N.V. (NYSE/MTA: RACE) today announces its consolidated preliminary results for the third quarter and nine months ended September 30, 2021, summarized as follow:
- Total shipments of 2,750 units, up 18.9% versus Q3 2020 and 11.2% versus Q3 2019
- Net revenues of Euro 1,053 million, up 18.6% versus prior year and up 15.1% versus Q3 2019
- EBITDA of Euro 371 million, up 12.4% versus prior year and up 19.6% versus Q3 2019. EBITDA margin of 35.2% in Q3 2021.
- EBIT of Euro 270 million, up 21.8% versus prior year and up 19.2% versus Q3 2019. EBIT margin of 25.7% in Q3 2021.
- Net profit of Euro 207 million and diluted EPS at Euro 1.11
- Extraordinarily strong industrial free cash flow generation of Euro 242 million sustained by the collection of advances on the 812 Competizione
- Upgraded 2021 Guidance
Benedetto Vigna, CEO of #ferrari, commented: “The strong third quarter results are an important step forward towards the upward revised 2021 guidance. The exceptional client relationships, fundamental in achieving the double digit growth in this quarter and year to date, are reflected in the #record order intake worldwide, particularly in China and USA. These results together with the soundness of our vision and the team I am honoured to lead, make me look to the future with great confidence and optimism.”
Today, at 3:00 p.m. CET, management will hold a conference call to present the Q3 2021 results to financial analysts and institutional investors. Please note that registering in advance is required to access the conference call details. The call can be followed live and a recording will subsequently be available on the Group’s website http://corporate.ferrari.com/en/investors.The supporting document will be made available on the website prior to the call.
Further information in the press release to download
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