Ferrari N.V. (NYSE/MTA: RACE) today announces its consolidated preliminary results for the first quarter ended March 31, 2017, summarized as follows:
- Total shipments at 2,003 units, up 121 units (+6.4%)
- Net revenues grew at Euro 821 million, up 21.5% (+20.4% at constant currencies)
- Adjusted EBITDA of Euro 242 million, margin now at 29.5% (30.1% without FX hedges)
- Adjusted EBIT of Euro 177 million, 360 bps margin increase to 21.6% (22.3% without FX hedges)
- Adjusted net profit up 60.1% to Euro 124 million
- Net industrial debtreduced to Euro 578 million
