Confirms FY guidance (Il Sole 24 Ore Radiocor) - Milan, 07 May - The Italian sports car manufacturer Ferrari said that in the first quarter of 2024 reported and adjusted diluted earnings per share rose to 1.95 euros from 1.62 euros a year earlier.

Net revenue rose 10.9% to 1.585 billion with total shipments of 3,560 units, substantially flat versus the first quarter of 2023.

The adjusted EBITDA margin grew to 38.2% from 37.6% and the EBIT margin widened to 27.9% from 26.9%.

Industrial free cash flow generation reached 321 million euros.

Ferrari confirmed its full-year guidance.

The company expects 2024 revenues of over 6.4 billion euros, an adjusted EBITDA margin of at least 38%, and adjusted EBIT margin of at least 27% and adjusted EPS of at least 7.50 euros.

Industrial free cash flow is forecast over 0.9 billion euros.

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(RADIOCOR) 07-05-24 19:08:49 (0804) 5 NNNN