(Bloomberg) -- Ferrari NV raised its full-year outlook as customization and higher shipments of limited-edition cars like the $2.2 million Daytona SP3 boosted profit in the second quarter.
The supercar manufacturer now sees adjusted earnings before interest, taxes, depreciation and amortization of at least €2.5 billion ($2.7 billion), compared with a previous estimate of at least €2.45 billion for this year, according to a statement Thursday.
Ferrari said it expects sales of more than €6.55 billion for the year, up from an earlier forecast of more than €6.4 billion.
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The shares rose as much as 4.1% in Milan, the most since February.
Chief Executive Officer Benedetto Vigna has said he’s committed to keeping the company’s product line exclusive, leaning on customization services to boost profit and create scope to raise prices further down the line.
That strategy is paying off at financial-results level, with both revenue and profit climbing at double-digit rates despite quarterly shipments rising only in the low single digits.
Second-quarter adjusted Ebitda rose 14% to €669 million, compared with an average analyst estimate of €645.2 million. Sales climbed 16% to €1.71 billion, beating the €1.62 billion average of estimates compiled by Bloomberg.
The company now sees free cash flow of up to €950 million, slightly more than its previous expectation of more than €900 million.
Shipments rose 3% in the quarter to 3,484 vehicles, Ferrari said. Deliveries were driven by the Purosangue model as well as higher sales of the Roma Spider and 296 GTS Spider.
Vigna is also working to guide Ferrari into the electrification era — a challenging task for a company known for its roaring 12-cylinder combustion engines.
In June the company for the first time offered a glimpse of its new Italian factory, where it will build its first-ever line of electric vehicles starting late next year, alongside hybrid models and cars powered by traditional engines.
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