Ferrari doubled quarterly profit

110577

Italian company Ferrari, specializing in the production of sports cars, following the results of the third quarter, reported a 2-fold increase in net profit compared to the same quarter in 2017 to 287 million euros. Tax benefits and an increase in the supply of cars contributed to the growth. Revenues amounted to 838 million euros, almost repeating the result of the previous quarter. Adjusted EBITDA reached 278 million euros, an increase of 4.7%. The last two indicators did not reach the estimates of experts. During the earnings period, the company delivered 2 thousand 262 cars, increasing the quarterly figure by 11%. In 9 months of the year, net profit increased 1.5 times, EBITDA – by 8%.

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