Ferrari Operating Profit Jumps 12% on Profitability Gains
Italian supercar maker Ferrari (NYSE: RACE) said that continued high demand for its latest models drove a 12% increase in its fourth-quarter operating profit from a year ago, enough to push its full-year result slightly above its guidance range.
But the company gave a cautious upgrade to its guidance for 2020, on concerns about slowing sales growth in China, Hong Kong, and Taiwan.
Data source: Ferrari. EBITDA = earnings before interest, tax, depreciation, and amortization. EBIT = earnings before interest and tax. "Adjusted" figures exclude one-time charges; there were none in the fourth quarter of 2019. Ferrari took a charge of about 1 million euros related to the Takata airbag inflator recalls in the fourth quarter of 2018. "Industrial free cash flow" is cash flow related to Ferrari's core auto-manufacturing business; it excludes cash flow related to its financial-services arm. Pp = percentage points.
Source Fool.com
