Ferrari first in the standings on the Ftse Mib thanks to the accounts for the first quarter, closed with results above expectations. After a morning with increases of around 1%, the shares of the prancing horse skyrocket at the top, gaining 5,28% to $124,65.
In the first three months of 2019 i revenues they grew by 13,1% to 940 million euros. Double-digit increases also for theebitda (+14% to 311 million euros) ed ebit (+11% to 232 million euros). It even rises by 22%Net income, which stands at 180 million euros.
All results clearly beat analysts' expectations who had forecast 866 million in revenues, 279 million in ebitda and 157 million in net profit.
leap of deliveries: in the first quarter of 2019 Ferrari recorded an increase of 22,7% reaching 2.610 vehicles delivered thanks to the exploit of the Ferrari Portofino. In detail, the V8 models showed an increase in sales of 30,6%, while those of supercars with V12 engines increased by 4,1%.
Geographically, EMEA shipments were up 9,6%, Americas shipments up 26,5%, Rest of APAC up 29,3%, while Mainland China, Hong Kong and Taiwan grew by 79,2%.
For the whole year the group has confirmed the targets: net revenues will exceed 3,5 billion euros, up 3% compared to 2018, adjusted ebitda is expected between 1,2-1,25 billion euros, (+10%); adjusted EBIT between 0,85-0,9 billion euro (+6%) compared to 2018; adjusted diluted EPS is estimated at between €3,50-3,70 per share, an increase of approximately 6% compared to 2018. Finally, industrial free cash flow will be approximately €0,45 billion, in more than 10% increase compared to 2018.
Remaining in the Agnelli galaxy, today CNH has also published the accounts quarterly results, closed with net income up 30,7% to $264 million over the same period last year, $0,19 per share, with consolidated revenues down 4,7% to $6,457 billion (+ 2% at constant exchange rates). Adjusted net profit stood at 248 million (+21,6%), 0,18 dollars per share. Adjusted Ebit of industrial activities increased by 7% to $278 million, with a margin of 4,6% (+50 basis points) and adjusted Ebitda was $525 million, with a margin of 8,7%, flat from first quarter 2018. Net industrial debt was $31 billion at March 1,5, up $0,9 billion from December 31, 2018, due to normal seasonal increase in working capital in the first quarter. CNH Industrial has confirmed its goals for 2019.
