LONDON, UK / ACCESSWIRE / February 22, 2018 / Active-Investors.com has just released a free earnings report on Ferrari N.V. (NYSE: RACE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=RACE. The Company posted its financial results on February 01, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Maranello, Italy-based Company's quarterly total net revenues and adjusted diluted EPS grew 1% and 3% y-o-y, respectively. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ferrari most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
In Q4 FY17, Ferrari reported total net revenues of €840 million compared to €836 million recorded at the end of Q4 FY16. The Company's cars and spare parts revenues were €601 million for the reported quarter compared to €573 million in Q4 FY16. Engines revenues fell to €81 million during Q4 FY17 from €113 million in Q4 FY16. Sponsorship, commercial, and brand revenues were also down to €124 million in Q4 FY17 from €128 million in Q4 FY16. Moreover, other revenues surged 58% to €34 million in Q4 FY17 from €22 million in the last year's same quarter.
The luxury sports car maker reported a net profit of €136 million, or €0.71 per diluted share, for Q4 FY17, up from €112 million, or €0.59 per diluted share, in Q4 FY16. Furthermore, the Company's adjusted net profit stood at €136 million, or €0.71 per diluted share, in Q4 FY17, which came in above the €130 million, or €0.69 per diluted share, reported in the last year's comparable quarter.
For the full year FY17, Ferrari's total net revenues stood at €3.42 billion compared to €3.11 billion in FY16. Additionally, the Company's adjusted net profit came in at €537 million, or €2.82 per diluted share, for FY17, up from €425 million, or €2.24 per diluted share, in the prior year.
Operating Metrics
During the three months ended December 31, 2017, the Company's total shipments were 2,017 units compared to 1,940 units in the last year's corresponding quarter. The Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) improved to €258 million, or 30.7% of total revenues, for Q4 FY17 from €251 million, or 30.0% of total revenues, in Q4 FY16. Moreover, the Company's adjusted earnings before interest and taxes (EBIT) increased to €194 million, or 23.1% of total revenues, during Q4 FY17 from €183 million, or 21.9% of total revenues, in Q4 FY16.
Shipment by Region
During Q4 FY17, Ferrari shipped 799 units to the Europe, Middle-East, and Africa (EMEA) region, which was 6% lower than the 848 units shipped in Q4 FY16. Shipments to the Americas grew 6% to 733 units in Q4 FY17 from 689 units in the prior year's same quarter. China, Hong Kong, and Taiwan region accorded for a total shipment of 164 units in the reported quarter, rising from 123 units in Q4 FY16. Moreover, shipments to the Rest of Asia/Pacific (APAC) region were 321 units in Q4 FY17 compared to 280 units in Q4 FY16.
Cash Flow and Balance Sheet
For the three months ended December 31, 2017, Ferrari generated €156 million in cash from operations compared to €439 million in Q4 FY16. The Company reported a free cash flow of €16 million in Q4 FY17 versus €351 million in Q4 FY16. Furthermore, free cash flow from industrial activities were €13 million in Q4 FY17 compared to a negative free cash flow from industrial activities of €71 million in Q4 FY16.
The Company had a cash and cash equivalents balance of €648 million as on December 31, 2017, compared to €458 million at the close of books as on December 31, 2016. Furthermore, the Company's net debt amounted to €1.16 billion as on December 31, 2017, compared to €1.39 billion as on as on December 31, 2016.
Outlook
In is guidance for the full fiscal year FY18, the Company expects net revenues to be greater than €3.4 billion, with shipments of above 9,000 units. Moreover, adjusted EBITDA is projected to be >= €1.1 billion for FY18.
Stock Performance Snapshot
February 21, 2018 - At Wednesday's closing bell, Ferrari's stock slightly declined 0.30%, ending the trading session at $128.01.
Volume traded for the day: 461.67 thousand shares.
Stock performance in the last month - up 5.47%; previous three-month period - up 17.26%; past twelve-month period - up 95.20%; and year-to-date - up 22.10%
After yesterday's close, Ferrari's market cap was at $24.07 billion.
Price to Earnings (P/E) ratio was at 37.96.
The stock has a dividend yield of 0.54%.
The stock is part of the Consumer Goods sector, categorized under the Auto Manufacturers - Major industry.
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