Ferrari NV raised its outlook following strong demand for models such as its new €390,000 ($428,000) Purosangue crossover and 296 GTB.
The Italian sports-car maker now expects adjusted earnings before interest, taxes, depreciation and amortization of as much as €2.22 billion this year, it said Wednesday, up from as much as €2.18 billion announced in February. The company also reported second-quarter sales and operating profit that slightly beat analyst estimates.
Ferrari has been hiking the prices of some of its models with its wealthy customers less hindered by soaring inflation and rising interest rates. Last month, Porsche AG said its deliveries rose 15% in the first half of the year with SUVs accounting for more than half, while warning of persistent parts shortages that are weighing on sales of the electric Taycan.
The company plans to unveil its first fully electric car in the fourth quarter of 2025. Battery-only as well as plug-in hybrid models are slated to dominate its portfolio in the second half of the decade with hybrid cars making up 43% of shipments during the second quarter.
During the second quarter, adjusted earnings before interest, taxes, depreciation and amortization rose to €589 million, out-pacing the average analyst estimate of €577 million. Revenue totaled €1.47 billion.
Ferrari also raised its full-year sales outlook to €5.8 billion from a previous guidance of about €5.7 billion.
