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H1 2019 RESULTS CONFIRM 2019 GUIDANCE WITH IMPROVED CASH FLOW.
UNVEILING OF FIRST HYBRID SERIES-PRODUCTION SUPERCAR, SF90 STRADALE
- Total shipments of 2,671 units, up +8.4%
- Net revenues of Euro 984 million, up +8.6% or +6.8% at constant currency([1])
- Adj. EBITDA([2]) of Euro 314 million, up +8.7% with an EBITDA margin of 32.0%
- Adj. diluted EPS(2) of Euro 0.96 (+13.9%)
- Industrial free cash flow(2) generation of Euro 139 million, reflecting also the positive cash impact from advances on the Ferrari Monza SP1 and SP2 as well as Patent Box benefit
For the three months ended | (In Euro million, unless otherwise stated) | For the six months ended | ||||||||
June 30, | June 30, | |||||||||
2019 | 2018 | Change | 2019 | 2018 | Change | |||||
2,671 | 2,463 | 208 | 8% | Shipments (in units) | 5,281 | 4,591 | 690 | 15% | ||
984 | 906 | 78 | 9% | Net revenues | 1,924 | 1,737 | 187 | 11% | ||
314 | 291 | 23 | 8% | EBITDA(2) | 625 | 563 | 62 | 11% | ||
314 | 290 | 24 | 9% | Adjusted EBITDA(2) | 625 | 562 | 63 | 11% | ||
32.0% | 31.9% | +10 bps | Adjusted EBITDA margin(2) | 32.5% | 32.3% | +20 bps | ||||
239 | 218 | 21 | 9% | EBIT | 471 | 428 | 43 | 10% | ||
239 | 217 | 22 | 10% | Adjusted EBIT(2) | 471 | 427 | 44 | 10% | ||
24.3% | 23.9% | +40 bps | Adjusted EBIT margin(2) | 24.5% | 24.6% | (10 bps) | ||||
184 | 160 | 24 | 14% | Net profit | 364 | 309 | 55 | 18% | ||
184 | 159 | 25 | 15% | Adjusted net profit(2) | 364 | 308 | 56 | 18% | ||
0.97 | 0.85 | 0.12 | 14% | Basic earnings per share (in Euro) | 1.92 | 1.63 | 0.29 | 18% | ||
0.96 | 0.85 | 0.11 | 13% | Diluted earnings per share (in Euro) | 1.91 | 1.62 | 0.29 | 18% | ||
0.97 | 0.84 | 0.13 | 15% | Adjusted basic earnings per share (in Euro)(2) | 1.92 | 1.63 | 0.29 | 18% | ||
0.96 | 0.84 | 0.12 | 14% | Adjusted diluted earnings per share (in Euro)(2) | 1.91 | 1.62 | 0.29 | 18% | ||
Confirming Guidance approaching the high end of the range on all metrics at currently prevailing exchange rates. Increasing industrial free cash flow target: |
|
1 The constant currency presentation eliminates the effects of changes in foreign currency (transaction and translation) and of foreign currency hedges
2 Refer to specific note on non-GAAP financial measures
3 Calculated using the weighted average diluted number of shares for 2018
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More information in the press release attached.
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