MILAN (Reuters) – Ferrari said on Tuesday its core earnings rose 7% in the third quarter, despite a slight decrease in vehicle shipments, as the luxury sports car maker continued to benefit from a richer product offer and increased demand for personalisation.
The Italian company said in a statement its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) amounted to 638 million euros ($695 million) in the July-September period, matching analysts’ average forecast of 635 million in a Reuters poll.
Milan-listed shares in the company, which on Tuesday also confirmed the forecasts for its full-year results it provided in August, extended losses after results were published and were down 3.5% by 1150 GMT.($1 = 0.9174 euros)
(Reporting by Giulio Piovaccari; Editing by Keith Weir)
