Unterhaltung

Ferrari surges nearly 5% on the stock market results to lead the trading day in Italy

BMW is the second strongest stock on the Frankfurt Stock Exchange and Volkswagen is up 0.6%

MADRID, May 4th. (EUROPE PRESS) –

Carmaker Ferrari rose 4.62% on the Italian stock exchange after releasing its results for the first quarter of the year, and its shares were trading at 264.8 euros at the end of the day, compared with 253.1 euros from Wednesday close, with the most outstanding value in the transalpine parquet.

The company, which also operates on the New York Stock Exchange, was up 5.05% around 6:50 p.m. (Peninsula time) on the US stock exchange and its shares were trading at nearly $292 to the current exchange rate), compared to $277.64 at Wednesday’s close.

Ferrari posted a net profit of 297 million euros in the first quarter of the year, up 24.3% from 239 million euros in the same period last year, according to data released by the company.

In addition, it recorded revenues of €1,429 million in the period, up 20.5% compared to €1,186 million in the first quarter of 2022. Adjusted net operating income (EBIT) was €385 million, up 25.4% year-on-year Conditions.

As a result, the company’s EBIT margin stood at 26.9% through March, up one percentage point from the first quarter of 2022.

BMW UP ALMOST 3% AND VOLKSWAGEN UP 0.6%

This Thursday, the German car manufacturers BMW and Volkswagen also presented their quarterly results, which also recorded price gains after the publication of their balance sheets up to March.

For its part, BMW was the second stock to rise the most on the Frankfurt Stock Exchange, posting a 2.75% gain this Thursday. In this way, their titles were exchanged for 102.62 euros at the close of business, compared to 101.02 on Wednesday.

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Meanwhile, Volkswagen’s gain on the German Stock Exchange was more subtle, up 0.6%, with the stock ending the day at €124.96.

BMW ended the first quarter of the year with a net profit of 3,662 million euros, down 64% from the 10,185 million euros for the same period in 2022, according to the company’s quarterly results.

In addition, the turnover in this period was 36,853 million euros, an increase of 18.33% compared to 31,142 million euros in the same period last year.

Between January and March, net operating profit (EBIT) was 5,375 million euros, 58.5% more than the 3,391 million euros recorded in the same months last year.

For its part, Volkswagen achieved an attributable net profit of 4,209 million euros in the first three months of the year, down 35.97% from the profit of 6,574 million euros achieved in the first quarter of 2022.

The consortium’s revenues between January and March amounted to 76,198 million euros, an increase of 21.5% compared to the previous year, while global vehicle sales of all its brands reached 2.04 million units, an increase of 7.53 % vs consortium corresponds to same period last year.

Operating profit was €5,747 million, down 30.99% from €8,328 million recorded in the first quarter of 2022. That way, the German company’s operating margin stood at 7.5% through March, down 5.8 percentage points from the 13.3% reported in the same period last year.