Deliveries
The impressive performance was led by robust deliveries of the Ferrari Portofino and the 812 Superfast, which was partially offset by lower volume from the 488 family. The geographic mix shifted in favor of Mainland China, helped by the advancement of client deliveries ahead of the early introduction of new emission regulations.
Also read: What Tesla executives discussed during Q2 earnings call
Earnings per share, both on an adjusted and non-adjusted basis, grew 13.9% to EUR 0.96. Net profit moved up 14% annually to EUR 184 million.
Outlook
The management also reaffirmed its full-year 2019 revenue guidance at EUR 3.5 billion. The outlook for adj. EBITDA and adj. EBIT has been confirmed at EUR 1.2-1.25 billion and EUR 0.85-0.9 billion, respectively.
The company continues to expect adjusted earnings in the range of EUR 3.50 per share to EUR 3.70 per share. Meanwhile, it revised up the guidance for industrial free cash flow to EUR 0.55 billion from the previous outlook of EUR 0.45 billion.
Shares of Ferrari
traded lower during Friday’s premarket session, after closing the previous
session higher. The stock gained about 65% since the beginning of the year.