Ferrari ups FY forecasts after strong Q2 on larger offer, personalisations

MILAN (Reuters) – Ferrari (NYSE:) on Thursday raised its forecasts for its full-year revenues core earnings, after the luxury sports car maker beat estimates in the second quarter, supported by a richer product offer and increased demand for personalisations.

The Italian company said in a statement it saw its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) growing this year to at least 2.50 billion euros ($2.70 billion), versus a previous forecast of at least 2.45 billion euros.

After results were published, Milan-listed shares in the company extended previous slight gains to gain 4.8% by 1105 GMT.

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