Ferrari raises full-year outlook after stronger-than-expected Q3 results - TimesLIVE

Ferrari on Tuesday raised forecasts for this year’s results marginally after beating consensus on core profit and revenue in the third quarter, helped by sales of higher-margin vehicles and contributions from the lucrative finishing touches added to its cars.

The Italian luxury sports car maker guided for its adjusted earnings before interest, taxes, depreciation and amortisation (ebitda) to rise to at least €3bn (R55.77bn) in 2026, versus a previous forecast for a result of at least €2.97bn (R55.17m).

The company said the forecast upgrade was based on stronger-than-expected personalisations — those touches customers request at extra cost to make their cars better suited to their individual tastes — offsetting currency headwinds and Ferrari’s current second place in the Formula 1 championship.

“Our order book now reaches into 2028, and we still have two more launches to come this year,” said CEO Benedetto Vigna in a statement.

Milan-listed shares in the company turned positive after initially extending losses when results were published. By 12:10pm GMT they were up 0.7%.

In the third quarter, Ferrari’s adjusted ebitda rose 12% to €753m (R13.99bn), topping a €739m (R13.74bn) analyst consensus in a Reuters poll.

Sales of the €3.6m (R66.97m) limited-edition F80 supercar improved Ferrari’s product mix in the third quarter and its result in the period, the company said, despite another drop in overall car shipments.

In the July-September period, Ferrari shipped 3,368 vehicles, 33 fewer than in the same period last year.