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Ferrari sees 2024 full-year revenue, core profit growing further

In Business
February 01, 2024

MILAN (Reuters) -Luxury sports car maker Ferrari said on Thursday its revenue and core earnings would rise this year, supported by a strong order book, and after broadly meeting targets for 2023.

Presenting its fourth-quarter results, the Italian company said in a statement it saw its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) to grow this year to at least 2.45 billion euros ($2.64 billion), versus a 2.28 billion euro result in the full-year 2023.

Milan-listed shares in the company reversed earlier losses after results were published and were up 4.1% by 1140 GMT.

Chief Executive Bendetto Vigna said the “exceptional visibility” on the company’s our order book would allow it “to look at the high-end of 2026 targets with stronger confidence”.

In its long-term business plan Ferrari has guided for an adjusted EBITDA of between 2.5-2.7 billion euros in 2026.

($1 = 0.9266 euros)

(Reporting by Giulio Piovaccari, editing by Giulia Segreti and David Evans)

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