Quarterly Ferrari, the accounts come back (not at all): "What a misfortune in F1"

The accounts come back more or less all except the sports, the only true wound of another year to be defined for Ferrari. the presentation of the quarterly report – the third – the focus is obviously on the numbers, but the nerve discovered track results in the end, one way or another, also emerges amid such satisfaction.

"The 2018 Ferrari in Formula 1 has been an unlucky year – admitted theafter Louis Louis Camilleri -. But the season is not over, we will do our best until the end. This was however the best year since 2008. In 2019, we will do better, we will do everything to win. I guarantee you it will be a better season. The situation with Liberty Media? (the new owners of F.1 ed). There have been progress on the technical level while on the economic level there is no news ".

But if the mail does not match yet, at dealerships and at the factory, things are much better, despite the wishes of badysts. The estimates of expected results for the end of the year are confirmed. the deliveries will exceed 9,000 cars (in the quarter 2,262 units, + 10.5%), including hypercars; the net revenues exceeded 3.4 billion (838 million, + 0.3% -2.2%). Adjusted EBITDA is equal to or greater than EUR 1.1 billion, while thethe net industrial debt will be less than 350 million. Adjusted net income for the quarter amounted to 146 million euros, + 5% compared to 2017 and if the benefits of the tax convention are calculated (on the patent box), the net profit increases to 287 million (+ 105%). To close with numbers, Adjusted EBtida is 278 million (+ 4.7%, + 11.9% at constant exchange rates). Moral of the story, from January to September, Maranello got a net profit of 596 millioni (+ 49% compared to 2017). The highest forecasts from badysts led Ferrari to lose 2% on the stock market.

"This quarter was particularly strong," says Camilleri, "positively influenced by the Patent Box and in line with our expectations, and we are on track to meet all targets for 2018. Liquidity effects will be felt in the fourth quarter. We have an important order book in all regions and for all models, which makes us look positively for the future.We will launch two major models in the first half of 2019. Icon models, Ferrari Monza Sp1 and Sp2? is too early to see the effects on sales As for the future Icon models, there will be but it is too early to talk about timing.The Ferrari Portofino allows us to attract new customers who have then become loyal to the brand and have more customers than California, despite the sales of Portofino that we have just started "