Luxury sports car maker Ferrari (RACE.MI) on Thursday raised its forecasts for this year's revenue and core profit after beating consensus in the second quarter, helped by sales of higher margin vehicles and contributions from personalisations.
The Italian company guided for its earnings before interest, taxes, depreciation and amortisation (EBITDA) rising to at least €2.97 billion ($3.41 billion) in 2026, versus a previous forecast for a result of at least €2.93 billion.
"A sustained trend in personalizations allows us to raise the guidance for the year," CEO Benedetto Vigna said in a statement.
Personalisations are those touches -both inside and outside the cars - requested by buyers at extra cost.
Milan-listed shares in the company erased earlier losses after results were published. By 1125 GMT they were up 1.6%.
In the second quarter, Ferrari's adjusted EBITDA rose 7% to €755 million, topping a €729 million analyst consensus in a Reuters poll.
The result was mostly attributable to factors including a positive product mix - mainly supported by the F80 €3.6 million limited-edition supercar - higher personalizations and a positive contribution, the company said. This was partially offset by other elements including higher industrial costs.
FERRARI LUCE EV UPDATE
The company is expected later on Thursday to give an update on the market reception for its new EV, the €550,000 Luce, which attracted a slew of negative reviews at its late May launch due to its unusual and polarising looks.
Along with the Luce, in the second quarter Ferrari also introduced the 12Cilindri Manuale, a manual-gearbox 12-cylinder model appealing to its most traditional customers.
"Today we have the most complete line-up in Ferrari history and we continue to experience healthy demand," he said, adding that the company had an order book "that entirely covers 2027".
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