Ferrari slashes sales projections after Q-2 profit dips
MILAN (ITALY) – Luxury carmaker Ferrari of Italy cut down its sales projections for this year on Monday after witnessing decreasing core earnings in Q-2 due to the pandemic crisis.
The ‘Prancing Horse’ said its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) come in between 1.075 billion euros (968.1 million pounds) and 1.125 billion euros.
That compare with the already-cut guidance it provided in May for an adjusted EBITDA between 1.05-1.20 billion euros.
Ferrari shared listed in Milan were down 0.6% at 1135 GMT, after climbing to 2.2% before results were released.
(Photos syndicated via Reuters)
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