February 4, 2020 / 11:24 AM / 13 days ago

Ferrari core profit misses estimates in Q4, lifts 2020 guidance

MILAN, Feb 4 (Reuters) - Ferrari said on Tuesday its fourth-quarter core profit rose 22% to meet the Italian luxury carmaker’s upgraded forecasts for last year.

Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at 333 million euros ($368 million) in the fourth quarter, slightly missing a 340 million euro forecast in an analyst poll compiled by Reuters.

Ferrari said it planned its adjusted EBITDA to increase to between 1.38-1.43 billion euros this year, compared to a previous guidance, set in its 2018 plan, of over 1.3 billion euros.

$1 = 0.9046 euros Reporting by Giulio Piovaccari

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