Ferrari beats by EUR 0.16, beats on revs; guides FY17 revs in-line
- Reports Q4 (Dec) earnings of €0.69 per share, excluding non-recurring items, €0.16 better than the Capital IQ Consensus of €0.53; revenues rose 12.4% year/year to €836 mln vs the €819.87 mln Capital IQ Consensus. Shipments -4% to 1940.
- Co issues in-line guidance for FY17, sees FY17 revs of > EUR 3.3 bln vs. €3.31 bln Capital IQ Consensus. Shipments: ~ 8,400 including supercars; Adjusted EBITDA: > Euro 950 million; Net industrial debt: ~ Euro 500 million, including a cash distribution to the holders of common shares and excluding potential share repurchases.