Ferrari q1 adj. ebitda at eur 317 mln

Q1 adjusted ebitda eur 317 million versus eur 322 million in reuters poll.q1 revenue eur 932 million versus eur 951 million in reuters poll.q1 net profit eur 166 million versus eur 170 million in reuters poll.updates 2020 guidance.net industrial debt at end-march at eur 401 million.sees in 2020 adjusted. ebitda: euro 1.05-1.20 billion (from euro 1.38-1.43 billion).sees in 2020 net revenues: euro 3.4-3.6 billion (from > euro 4.1 billion).sees in 2020 industrial free cash flow: euro 0.1-0.2 billion (from ≥ euro 0.4 billion).sees in 2020 adjusted. diluted eps: euro 2.4-3.1 per share (from euro 3.90-3.95 per share).sees in 2020 adjusted. ebit: euro 0.6-0.8 billion (from euro 0.95-1.0 billion).impact of covid-19 expected mainly in q2 2020.from 4 may ferrari will gradually restart plants in maranello and modena, which will be able to return to full production from friday 8 may.postponement of 2020 formula 1 is impacting sponsorship and commercial revenues.due to significant uncertainties relating to potential second covid-19 wave, such scenario was not considered.capital expenditures projected for 2020 reduced to approximately euro 750 million.2020 guidance reflects impact of covid-19 and provides for harsh reduction in formula 1, brand and maserati engines' revenues and earnings.
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