Ferrari, Continuing Strong Momentum Across All Regions

Rhea-AI Summary

Ferrari N.V. (RACE) reported strong preliminary results for Q2 and the first half of 2021, marked by significant growth across all regions. Total shipments reached 2,685 units, nearly doubling from the previous year. Net revenues surged to €1,035 million, a 100% increase year-over-year, and up 5.2% from Q2 2019. EBITDA tripled to €386 million, with an EBITDA margin of 37.4%. Net profit was reported at €206 million, translating to a diluted EPS of €1.11. The company's industrial free cash flow guidance was improved to €450 million.

Positive

• Total shipments of 2,685 units, nearly double from the prior year.
• Net revenues of €1,035 million, a 100% increase year-over-year.
• EBITDA of €386 million, tripled compared to the prior year.
• Improved industrial free cash flow guidance to approximately €450 million.

Negative

• None.

CONTINUING STRONG MOMENTUM ACROSS ALL REGIONS

Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary results for the second quarter and six months ended June 30, 2021. Second quarter results can be summarized as follows:

• • • • Total shipments of 2,685 units, almost doubled versus prior year and up 0.5% versus Q2 2019
• Net revenues of Euro 1,035 million, nearly doubled versus prior year and up 5.2% versus Q2 2019
• EBITDA of Euro 386 million, tripled versus prior year and up 23.0% versus Q2 2019. EBITDA margin of 37.4% in Q2 2021.
• EBIT of Euro 274 million versus Euro 23 million of prior year and up 14.8% versus Q2 2019. EBIT margin of 26.5% in Q2 2021.
• Net profit of Euro 206 million and diluted EPS at Euro 1.11
• Sound industrial free cash flow generation of Euro 113 million and guidance for the year improved to approx. Euro 450 million (from approx. Euro 350 million)

Next Capital Markets Day is planned for June 16, 2022 in Maranello.

Commenting on the results, Chairman and Acting CEO John Elkann said: “This excellent second quarter confirms the strength of Ferrari and of its unique business model. With each Ferrari we unveil we are setting new benchmarks for innovation, beauty and distinctiveness which is the only true luxury. As we move towards our 75^th anniversary next year, our opportunities have never been wider and greater.”

Attachment

• 2021_08_02 - Ferrari Q2 2021 Results Press Release

FAQ

What are Ferrari's Q2 2021 financial results?

Ferrari reported Q2 2021 net revenues of €1,035 million, net profit of €206 million, and EBITDA of €386 million.

How many units did Ferrari ship in Q2 2021?

Ferrari shipped 2,685 units in Q2 2021, nearly double the prior year's shipments.

What is Ferrari's EBITDA margin for Q2 2021?

Ferrari's EBITDA margin for Q2 2021 stood at 37.4%.

What is the diluted EPS reported by Ferrari for Q2 2021?

Ferrari reported a diluted EPS of €1.11 for Q2 2021.

What is Ferrari's updated industrial free cash flow guidance for 2021?

Ferrari's industrial free cash flow guidance for 2021 has been improved to approximately €450 million.