Ferrari lifts guidance after second quarter beat driven by F80, personalisations

The company is expected later on Thursday to give an update on the market reception for its new EV, the €550,000 Luce, which attracted a slew of negative reviews at its late May launch due to its unusual and polarising looks.

Ferrari has hit its annual sales target of just under 500 units for the Luce thanks to strong demand from China, the Financial Times reported on Wednesday, citing people familiar with the matter.

Along with the Luce, in the second quarter Ferrari also introduced the 12Cilindri Manuale, a manual-gearbox 12-cylinder model appealing to its most traditional customers.

"Today we have the most complete line-up in Ferrari history and we continue to experience healthy demand," he said, adding that the company had an order book "that entirely covers 2027".

($1 = 0.8711 euros)

Milan-listed shares in the company erased earlier losses after results were published. By 1125 GMT they were up 1.6%.

In the second quarter, Ferrari's adjusted EBITDA rose 7% to €755 million, topping a €729 million analyst consensus in a Reuters poll.

The result was mostly attributable to factors including a positive product mix - mainly supported by the F80 €3.6 million limited-edition supercar - higher personalizations and a positive contribution, the company said. This was partially offset by other elements including higher industrial costs.

MILAN, July 30 (Reuters) - Luxury sports car maker Ferrari on Thursday raised its forecasts for this year's revenue and core profit after beating consensus in the second quarter, helped by sales of higher margin vehicles and contributions from personalisations.