On Monday 4th November, the Ferrari raised it's trading outlook for the remainder of 2019 after strong sales of it's Portfofino and 812 Superfast sportscars produced a what management called "solid" third quarter results.
The Italian luxury carmaker piled on more good news with investors after launching a new brand strategy promising even more growth ahead. The shares are up more than 74% this year after jumping 6.51% shortly after they reported results to the market.
The carmaker annouced plans to expand their offering beyond the epitomous prancing house branded automobiles and into new apparel and accessory collections, entertainment offers, and luxury products and services for clients - taking a step towards lifestyle services that other competitor brands can only dream of.
Ferrari expects the new brand initiative to represent around 10% of the group’s profitability in the next seven to 10 years, in what Chief Executive Louis Camilleri described as an “ambitious but realistic target”.
Ferrari also increased their outlook on 2019 revenues to 3.7bn euros and indicated that they expected a strong year in 2020.
Woozle's long position in Ferrari continues to be underpinned by stronger than expected sales trends across core models including the 812 Superfast and Portofino models which have experienced strong customer interest and pre-orders globally.
In addition, Ferrari dealerships reported very strong starts to Q4-19 trading with already better than expected customer interest for pre-orders of the new F8 and SF90 Stradale models showing signs that accelerating results is very much possible despite already solid financials this year.
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