MILAN — Ferrari raised its forecasts for full-year revenue and core profit after posting what it described as record results in the second quarter and saying its order book hit new highs.
“The quality of the first six months and the robustness of our business allows us to revise upward the 2022 guidance on all metrics,” CEO Benedetto Vigna said in a statement on Tuesday.
“Also the net order intake reached a new record level in the (second) quarter,” added Vigna, who took charge of Ferrari last September.
The company guided for adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of between 1.70-1.73 billion euros this year, versus a previous forecast of between 1.65-1.70 billion euros.
Adjusted EBITDA rose 15 percent in the April-June period to 446 million euros ($456 million).
However the margin on adjusted EBITDA fell to 34.6 percent in the quarter, from 37.4 percent a year earlier.
Ferrari in June rolled out its new business plan, with a promise to make electric and hybrid cars 80 percent of it models by 2030.
