Adj EBITDA at 638 mln euros, matching analyst forecasts
Car shipments down 2 in Q3 to 3,383 units
Confirms forecasts for FY 2024 results
Shares down on Tuesday, but up 40 this year

MILAN, Nov 5 Reuters A richer model lineup and increased demand for personalisation continued to support growth at Ferrari, which on Tuesday reported a 7 core earnings increase in the third quarter, despite a slight drop in car shipments.

The addition of new, highend models that met with strong demand brought a 60 million euro positive contribution to the quarterly result, the luxury sports car maker said in a statement.

This was supported by demand for the 2million euro, V12 Daytona SP3, as well as a few sales of the limited series, trackonly 499P Modificata, priced at 5.1 million euros.

Chief Executive Benedetto Vigna said the company enjoyed exceptional order book visibility well into 2026, with order intake led by the 12Cilindri car family, which was launched in May.

Ferrari, which has promised its first and so far highly secretive fullyelectric model for the end of next year, reported its adjusted earnings before interest, tax, depreciation and amortization EBITDA totalled 638 million euros 695 million in the JulySeptember period, roughly matching analysts39; average forecast in a Reuters poll.

Milanlisted shares in the company, which gained around 40 this year, however extended losses after the results were published.

In the exalted world of Ferrari valuation, Ferrari39;s…