FILE PHOTO: Ferrari Roma is unveiled during its first world presentation in Rome, Italy, November 14, 2019. REUTERS/Guglielmo Mangiapane/File Photo
February 4, 2020
MILAN (Reuters) – Ferrari <RACE.MI> said on Tuesday its fourth-quarter core profit rose 22% to meet the Italian luxury carmaker’s upgraded forecasts for last year.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at 333 million euros ($368 million) in the fourth quarter, slightly missing a 340 million euro forecast in an analyst poll compiled by Reuters.
Ferrari said it planned its adjusted EBITDA to increase to between 1.38-1.43 billion euros this year, compared to a previous guidance, set in its 2018 plan, of over 1.3 billion euros.
(Reporting by Giulio Piovaccari)
