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Ferrari Q1 Profit Rises - Quick Facts

Ferrari N.V. (RACE) reported that its first quarter net profit increased to 206 million euros from 166 million euros, last year. Earnings per share was 1.11 euros compared to 0.90 euros. EBITDA was 376 million euros, up 18.6%.

First quarter net revenues were 1.01 billion euros, up 10.8% at constant currency. Shipments totaled 2,771 units, up 33 units or 1.2% from a year ago.

The company said it is confident to reach top end of the 2021 guidance range on the back of excellent results, robust net order intake as well as record order book as at the end of first quarter 2021.

Chairman and Acting CEO John Elkann said: "Looking ahead, we expect the prudent steps we took in 2020 and are continuing in 2021 to adjust our expenditure in response to the Covid-19 emergency, will postpone by one year the achievement of our year-end 2022 guidance."

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