Ferrari FY24 Outlook: Revenue EUR 6.4B Vs. EUR 6.56B Estimate, Adj. EPS EUR 7.50 Vs. 7.77 Estimate
Author: Benzinga Newsdesk | May 07, 2024 06:50am
2024 guidance confirmed, based on the following assumptions for the year:
- Positive product and country mix, along with strong personalizations
- Racing activities impacted by lower Formula 1 ranking in 2023 despite higher number of races in the 2024 calendar
- Lifestyle activities expected to increase top line contribution while investing to accelerate development
- Cost inflation to persist
- Continuous brand investments
- Robust Industrial free cash flow generation, partially offset by increased capital expenditures and higher tax payment
| (€B, unless otherwise stated) |
2023A |
2024
GUIDANCE |
| NET REVENUES |
6.0 |
>6.4 |
| ADJ. EBIT (margin %) |
1.62
27.1% |
≥1.77
≥27% |
| ADJ. DILUTED EPS (€) |
6.90(13) |
≥7.50(13) |
| ADJ. EBITDA (margin %) |
2.28
38.2% |
≥2.45
≥38% |
| INDUSTRIAL FCF |
0.93 |
>0.90 |
Posted In: RACE
