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Ferrari: Solid q3 2019 on All Metrics. ROBUST PERFORMANCE LEADS TO UPGRADING 2019 GUIDANCE.

Ferrari N.V. (NYSE/MTA: RACE) today announces its consolidated preliminary results(5) for the third quarter and nine months ended September 30, 2019, summarized as follows.

  • Total shipments of 2,474 units, up +9.4%

  • Net revenues of Euro 915 million, up +9.2% or +7.1% at constant currency

  • Adj. EBITDA of Euro 311 million, up +11.5% with an EBITDA margin of 33.9%

  • Adj. diluted EPS of Euro 0.90 (+16.9%)

  • Industrial free cash flow generation of Euro 138 million

The Guidance 2019 is upgraded as follows:

  • Net revenues: ~Euro 3.7 billion (from > Euro 3.5 billion)

  • Adj. EBITDA: ~Euro 1.27 billion (from Euro 1.2-1.25 billion)

  • Adj. EBIT: ~Euro 0.92 billion (from Euro 0.85-0.9 billion)

  • Adj. diluted EPS: Euro 3.70-3.75(3) per share (from Euro 3.50-3.70 per share)

  • Industrial free cash flow: > Euro 0.6 billion (from > Euro 0.55 billion)

On November 4, 2019, at 3.00 p.m. CET, management will hold a conference call to present the Q3 2019 results to financial analysts and institutional investors. The call can be followed live and a recording will subsequently be available on the Group website http://corporate.ferrari.com/en/investors. The supporting document will be made available on the website prior to the call.


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