MILAN (Reuters) – Ferrari said on Tuesday its core earnings rose 13% in the first quarter of the year as the luxury sports car maker was supported by pricing power and product mix, as well as by a greater contribution from personalisation.
The Italian company said in a statement that its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) were 605 million euros ($651 million) in the January-March period, in line with analyst expectations in a Reuters poll.
Ferrari, whose Milan-listed shares turned negative after the results were published, confirmed its forecast for its full-year adjusted EBITDA to increase to at least 2.45 billion euros in 2024.
($1 = 0.9291 euros)
(Reporting by Giulio Piovaccari, editing by Gianluca Semeraro)
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