Ferrari maintained its full-year guidance as new models drove increased demand in the first quarter, with the Italian luxury car maker bringing forward deliveries to other regions to avoid any impact from Middle East conflicts. The company reported slight growth in profitability despite a planned reduction in vehicle shipments.

Adjusted earnings before interest and taxes reached €548 million ($640.7 million), up from €542 million in the same quarter last year, while revenue increased 3.2% to €1.85 billion. Both figures narrowly missed FactSet analyst expectations, which had forecast EBIT of €549 million on revenue of €1.83 billion.

Ferrari delivered 3,436 vehicles in the quarter, 157 fewer than a year earlier, as the company intentionally reduced shipments to ramp up production of new models. The sports-car maker also noted increased demand for car customizations, a high-margin business that likely supported profitability despite lower delivery volumes.