Ferrari earnings up 15% in first quarter, but confirms risks from U.S tariffs
A Ferrari SF90 Stradale hybrid sports car is seen during a media preview at the Auto Zurich Car Show in Zurich, Switzerland November 3, 2021. REUTERS/Arnd Wiegmann/File Photo Purchase Licensing Rights , opens new tab
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MILAN, May 6 (Reuters) - Luxury sports-car maker Ferrari (RACE.MI)
, opens new tab said on Tuesday its core earnings rose 15% in the first quarter supported by a richer product mix and demand for personalisation of vehicles, but reiterated U.S. tariffs could hit profitability this year
The Italian company said its earnings before interest, tax, depreciation and amortization (EBITDA) amounted to 693 million euros ($784 million), broadly matching an analyst consensus of 689 million euros in a Reuters poll.
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Milan-listed shares in the company, which confirmed its forecasts for its full-year results, were down 1% by 1055 GMT.
($1 = 0.8835 euros)
Reporting by Giulio Piovaccari, editing by Gavin Jones
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