By Kim Richters 
 

Ferrari NV said Monday that revenue and earnings rose in the second quarter of 2021 and it lifted part of its guidance for the year.

Net profit came in at 206 million euros ($244.5 million) for the period ended June 30, compared with EUR9 million a year earlier, the Italian sports-car maker said.

Earnings before interest, taxes, depreciation and amortization rose to EUR386 million from EUR124 million, while earnings before interest and taxes increased to EUR274 million from EUR23 million.

Revenue for the period soared 81% to EUR1.04 billion.

Ferrari said results reflected higher shipments than the year-earlier period when business was strongly affected by the coronavirus pandemic, and were also boosted by factors such as a richer product mix and higher contribution from personalizations.

For 2021, the car maker backed part of its prior guidance, expecting annual revenue of around EUR4.3 billion and adjusted Ebitda of between EUR1.45 billion and EUR1.50 billion.

The company raised its full-year guidance for industrial free cashflow, assuming unaffected trading conditions and targeting EUR450 million, instead of around EUR350 million before.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

August 02, 2021 07:26 ET (11:26 GMT)

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