Ferrari said on Monday it had cut its core profit estimates for the year to reflect the impact of the coronavirus crisis, expected to mainly affect second quarter results.
Ferrari said it now saw its 2020 adjusted earnings before interest, tax, depreciation and amortisation edging down from the previous year to between 1.05-1.20 billion euros.In February, Ferrari had guided for an increase in 2020 EBITDA to between 1.38-1.43 billion euros.
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