August 1, 2018 / 10:24 AM / 14 days ago

Ferrari confirms FY guidance as news CEO takes the wheel

MILAN, Aug 1 (Reuters) - Italian supercar maker Ferrari reported a 7 percent rise in second-quarter adjusted core earnings, helped by sales of the 812 Superfast model and the 488 family, and confirmed its outlook for the full year.

In the first set of results presented by newly-appointed Chief Executive Louis Camilleri, the company said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 290 million euros ($339 million) in the quarter, in line with a Thomson Reuters SmartEstimate of 286 million euros.

Profit margins rose to 31.9 percent from 29.4 percent. ($1 = 0.8561 euros) (Reporting by Agnieszka Flak, editing by Giulia Segreti)

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