Ferrari posts net profit 13% down at 609 mn

Weird Italy cb85434a03ba64a95e9a5b2d3cfad435 Ferrari posts net profit 13% down at 609 mn What happened in Italy today

(ANSA) – TURIN, FEB 2 – Ferrari on Tuesday posted a net
profit for 2020 13% down at 609 million euros.
    The luxury sportscar maker said its results were better than
expected.
    Total deliveries were 9,119, 10% down on the previous year but
in line with forecasts linked to a seven-week COVID closure.
    Net earnings were 8.1% down at 3.46 billion euros.
    Ferrari reported an EBITDA of 1,143 million, down 10.0% versus
prior year, with an EBITDA margin of 33.0%.
    It said EBIT was 716 million euros, down 21.9% versus prior
year, with an EBIT margin of 20.7%.
    There was also a positive industrial free cash flow generation
of 172 million euros. (ANSA).
   

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