MILAN (Reuters) – Ferrari said on Monday its core profit tripled in the second quarter as shipments increased compared to same period in 2020 that was hit by COVID-19, but the carmaker failed to improve its forecasts for the full-year, except that for cash generation.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at 386 million euros ($459 million) in the April-June period, slightly topping analyst expectations of 373 million euros, according to a Reuters poll.
Milan-listed shares in Ferrari turned negative after results were published, to lose 2.6% by 1050 GMT.
(Reporting by Giulio Piovaccari, editing by Maria Pia Quaglia)
