Ferrari said on Tuesday its fourth-quarter core profit rose 22% to meet the Ital...
FILE PHOTO: Ferrari Roma is unveiled during its first world presentation in Rome, Italy, November 14, 2019. REUTERS/Guglielmo Mangiapane/File Photo
MILAN - Ferrari said on Tuesday its fourth-quarter core profit rose 22% to meet the Italian luxury carmaker’s upgraded forecasts for last year. Adjusted earnings before interest, tax, depreciation and amortization came in at 333 million euros in the fourth quarter, slightly missing a 340 million euro forecast in an analyst poll compiled by Reuters.
Ferrari said it planned its adjusted EBITDA to increase to between 1.38-1.43 billion euros this year, compared to a previous guidance, set in its 2018 plan, of over 1.3 billion euros.
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