Tuesday, 23 April 2024
Ferrari said it now saw its 2020 adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) edging down from the previous year to between 1.05-1.20 billion euros.
In February, Ferrari had guided for an increase in 2020 EBITDA to between 1.38-1.43 billion euros.
The company, which on Monday restarted operations at its plants in Maranello and Modena, said its adjusted EBITDA rose 1.9% to 317 million euros ($347 million) in the first quarter, broadly in line with a 322 million euro forecast in an analyst poll compiled by Reuters.
The two plants, both located in Italy’s northern Emilia Romagna region, had been closed since mid-March.
Ferrari shares extended losses after the results were published to stand down 5.3% by 1124 GMT.
Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.
Smarter Decisions with Smart News
Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.
Pro-nuclear energy protesters rally against Greenpeace in Paris 
Credit Suisse taps Santangelo as global co-head of healthcare 
