Ferrari 2019 Q2: clockwork earnings
The revenues split illustrates the growth of the car business, the constant erosision of engine sales to Maserati (-33% year over year), and the robustiness of sponsoring revenues.
Ferrari reconfirms its guidance for 2019, with revenues in excess of 3.5 billion euros and an operational margin 24.5%. On the Milan stock exchange, Ferrari shares were dropping 4.2% at 143.25€ following the release of these results. The market cap of Ferrari is 27.48 billion euros, representing a multiple of 34.6 on current earnings.