RACE Ferrari NV

By Giulia Petroni

Ferrari NV on Thursday issued guidance for the current year after profit and revenue rose in the fourth quarter of 2022.

The Italian sports-car maker reported quarterly net profit of 221 million euros ($240.9 million) from EUR214 million a year earlier.

Earnings before interest, taxes, depreciation and amortization came in at EUR469 million compared to EUR398 million, while earnings before interest and taxes increased to EUR298 million from EUR265 million.

Revenue for the quarter rose to EUR1.37 billion from EUR1.17 billion in the previous-year period, bringing revenue for the year to EUR5.10 billion.

"Last year ended with outstanding financial results that met and exceeded our guidance," Chief Executive Benedetto Vigna said. "These figures provide the base for an even stronger 2023, fuelled by a persistently high demand for our products worldwide."

Looking at the current year, Ferrari forecasts revenue of around EUR5.7 billion. Adjusted Ebitda is seen between EUR2.13 billion and EUR2.18 billion, while adjusted EBIT at between EUR1.45 billion-EUR1.50 billion.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 02, 2023 06:58 ET (11:58 GMT)

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