(RTTNews) – Ferrari N.V. (RACE) reported that its net profit in the second quarter fell to 9 million euros from 184 million euros last year, mainly due to covid-1nine’s effect on volumes. Adjusted earnings consistent with a consistent percentage for the quarter were 0.04 euros compared to 0.nine6 euros in the same consistent period last year.
Deliveries totaled 1,389 sets in the 2020 quarter, a decrease of 1282 sets or 48.0% over last year, affected by the interruptions of the Covid-19 pandemic, adding the production suspension and the closure of distributors as the first component of the quarter.
Second quarter revenue was 571 million euros, 42.6% less at consistent exchange rates. The volume of sales of cars and spare portions amounted to 450 million euros, 41.3% or 42.0% at exchange rates consistent with last year, due to the suspension of Covid-19 production, which led to minimizing deliveries and minimizing the contribution. customizations, partially compensated through deliveries of the Ferrari Monza SP1 and SP2.
The company has cut its forecast for the full 2020 year. The forecasts reflect an updated assessment of the project that has an effect on the Covid-19 pandemic on the company’s home chain and the resulting delay in the complete acceleration of SF90 Stradale production.
The company now projects annual net sales of more than 3.4 billion euros, with an earlier forecast of 3.4 billion to 3.6 billion euros.