Italy's Ferrari reported better-than-expected second-quarter earnings and record orders, prompting the luxury sports carmaker to raise its targets for the full year 2022.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 15 percent in the second quarter to 446 million euros, beating analysts' forecasts in a Reuters poll of 427 million euros.

However, adjusted EBITDA margin fell to 34.6 percent in the quarter under review from 37.4 percent a year ago, partly due to industrial cost inflation, the company said.

Car shipments in the April-June quarter rose 29 percent, with deliveries to China more than doubling to 358 units.

The luxury carmaker said hybrid models accounted for 17 percent of its deliveries in the period and the first deliveries of the €275,500 296 GTB have begun, expanding the offering following the promotion of its first hybrid vehicle, the SF90 Stradale.

Ferrari said it now expects full-year adjusted EBITDA between 1.70 billion euros and 1.73 billion euros, down from its previous forecast range of 1.65-1.70 billion euros.

The company added that demand has grown strongly, with most of its models currently sold, and promised to deliver its first all-electric car in 2025, which will be one of 15 new models it plans to launch between 2023 and 2026.