MILAN (Reuters) -Luxury sports-car maker Ferrari said on Thursday its core earnings rose 6% in the second quarter, supported by strong pricing power and richer product offerings, while seeing a reduced impacts from new U.S. tariffs on EU-made products.
As part of a wider trade agreement, the United States and the European Union on Sunday agreed on a 15% tariff on imports of EU made products.
As a consequence of the agreement, Italy-based Ferrari said on Thursday it was removing a 50 basis point risk
on its profit margins it introduced in March, when the U.S had initially set tariffs on auto imports from the EU at 25%.
However, despite seeing reduced impacts from tariffs, as well as now expecting lower industrial costs in the second part of the year, Ferrari only reiterated its existing forecasts for 2025.
Milan-listed shares extended losses after the results were published to fall as much as 4.8%.
The forecasts include one for full-year adjusted earnings before interest, tax, depreciation and amortization (EBITDA) growing to at least 2.68 billion euros ($3.07 billion).
Ferrari said it now had "stronger confidence in the 2025 guidance".
In the second quarter, adjusted EBITDA amounted to 709 million euros, matching an analyst consensus of 707 million euros in a Reuters poll.
Pricing power in the quarter was supported by the deliveries of models of Ferrari's SF90 XX and the 12Cilindri families, the company said in a statement, as well as by increased personalisations and the positive country mix mainly driven by the Americas region.
($1 = 0.8741 euros)
(Reporting by Giulio PiovaccariEditing by Keith Weir)
