Ferrari raised its full-year forecast on Monday after strong sales of its Portofino and 812 Superfast sportscars produced "solid" third quarter results, lifting its shares.
The Italian luxury carmaker said its 2019 adjusted earnings before interest, tax, depreciation and amortization would be around 1.27 billion euros ($1.42 billion), topping a previous forecast of 1.2 billion to 1.25 billion euros.
In the third quarter Ferrari's adjusted EBITDA rose 11 percent to 311 million euros ($347 million).
Ferrari also increased its outlook on 2019 revenue to about 3.7 billion euros ($4.1 billion), from a previous forecast of more than 3.5 billion euros, and on its industrial free cash flow.
Shipments in the third quarter rose 9.4 percent to 2,474 vehicles, driven by a 9.5 percent increase in sales of 8-cylinder models, such as the Portofino, and a 8.9 percent rise in higher margin 12-cyilinder models, such as the 812 Superfast.
Ferrari also is readying a plan to take its branded accessories further upmarket, Bloomberg reported.
