Ferrari’s share price climbed 0.6% this Thursday 9 of July to 155.40 euros, so that the luxury car manufacturer can count on the support of several brokers, including RBC. Without regaining its highs close to 170 euros before the crisis, their business has recovered well for a few weeks on the Milan stock exchange after falling into the 115 euros zone at the peak of the crisis last March.
The company has crossed the barrier of 10,000 vehicles marketed for the first time last year, while its business results have greatly improved over the last financial year. Over the 12 months, the Italian group had thus recorded an adjusted Ebitda of 1.269 billion euros (+ 14%) for revenues up 10.1% (+ 8.2% at constant exchange rates), at 3.766 billion euros. The adjusted Ebitda margin thus came to 33.7% (+110 basis points). Buoyed by the success of its Ferrari Portofino and ‘812 Superfast’ models, Ferrari sold 10,131 cars in 2019, 9.5% more than the previous year. China, Hong Kong, and Taiwan (+ 20.3%) and the EMEA region (+ 15.8%) were the most dynamic …
Confident management had revised its 2020 targets upwards despite the situation in China. Meanwhile, the coronavirus health crisis has spread to the rest of the world, and the group has had to face containment measures that have affected half the globe in recent months.
Rolls-Royce Disbursed More Than 3 Billion Euros in 1st Half of the Year
British engine manufacturer Rolls-Royce said that its cash flow had decreased by 3 billion pounds sterling (3.35 billion euros) in the first half as a result of the coronavirus crisis on air traffic. The company warned to expect a further cash outflow of £ 1 billion in the second half of the year.
The group’s general manager, Warren East, said he was examining options to strengthen his balance sheet and said the engine manufacturer still had 8.1 billion pounds of cash at the end of the first half.
The coronavirus pandemic is an unprecedented shock to civil aviation, which will take several years to recover.
According to East, during the first semester, the flight hours of wide-body aircraft, for which they are paid under maintenance contracts, were half as many as last year,” said the director.
Rolls-Royce, which supplies notably Boeing and Airbus with aircraft engines, said it expected a net cash outflow of around £ 4 billion (€ 4.46 billion) across the board. ‘exercise.
The air engineer also records a one-off impact of the same amount on factoring, which, until now, has enabled him to have advance financing for his operations.
The company, which announced the abolition of 9,000 jobs to adapt to the airline business crisis, said the restructuring would generate a cash flow of at least 750 million pounds sterling (836.3 million d ‘euros) in 2022.
On the London Stock Exchange, the Rolls-Royce share fell at midday 8.86% and penalized the London FTSE index down 0.61%.
For JPMorgan analysts, the Rolls-Royce announcements are “much worse than expected”.
If there were to be the second wave of COVID-19 or a slower than expected recovery, then it is very likely that the British government will have to intervene to uplift Rolls-Royce business revenues.
