Lester_Davids

Ferrari: Off To The Races? - Strong Results & Record Order Book

Long
MIL:RACE   FERRARI
Part automobile manufacturer, part luxury stock, the share is looking to breach it's year-to-date overhead supply.

Chart structure similar to that of another luxury goods business, Kering , where €620.00 was a big level in April.

Phase in and add on a close above €182.00

Stop: 169.00

Weekly Chart.

As per their recent results presentation (via Investor Relations):

STRONG FIRST QUARTER RESULTS AND RECORD ORDER BOOK;DECISIVE MANAGEMENT OF COVID-19 PANDEMIC IMPACTS

Q1 sustained by product mix with EBITDA(1)at €376M, +18.6% vs. Q1 ‘20 and +20.9% vs. Q1 ‘19, with a margin of 37.2%.
Sound industrial FCF at €147M.
Robust net order intake and record order book.
Most profitable models with strongest demand
Confident to reach top end of the 2021 guidance range2022 financial targets postponed by one year due to actions taken in response to Covid-19


Comments