Core Insights - Ferrari has presented its profitability targets for the end of the decade, upgrading its 2025 guidance and exceeding 2026 profitability targets one year ahead of schedule [1][7]. Financial Targets - The company aims for net revenues of approximately €9.0 billion by 2030, with a compounded annual growth rate of around 5%, primarily driven by sports cars and related activities [2]. - EBIT is projected to reach at least €2.75 billion in 2030, with a margin of at least 30%, supported by a strong product mix and limited-edition models [3]. - EBITDA is targeted to be at least €3.6 billion in 2030, with an EBITDA margin of at least 40%, indicating strong profitability and cash flow generation [4]. Shareholder Returns - Ferrari plans to increase the dividend payout to 40% of adjusted net profit starting from the 2025 annual results, leading to a cumulative dividend distribution of approximately €3.5 billion from 2027 to 2031 [6]. - The company will initiate a new share repurchase program of around €3.5 billion from 2026, aligned with industrial free cash flow generation [8]. Operational Insights - The company anticipates cumulative industrial free cash flow of approximately €8.0 billion over the 2026-2030 period, with capital expenditures estimated at around €4.7 billion [4][7].

Core Viewpoint - Aston Martin, the British luxury car manufacturer, has lowered its profit expectations for the year due to U.S. tariffs and weak demand in the Asia-Pacific region, leading to a review of its cost and capital expenditure plans [1] Financial Performance - The company anticipates that its adjusted earnings before interest and taxes (EBIT) for the year will fall below the lower end of market consensus, which is a loss of £110 million (approximately $148.3 million) [1] - The downward revision reflects a decline in sales and pressure on the gross margin per vehicle, marking another adjustment following a previous downgrade in guidance during the summer [1] Market Conditions - Weak demand in the Asia-Pacific region and the impact of U.S. tariffs have significantly affected the company's sales performance [1] - The company no longer expects to achieve positive free cash flow in the second half of the year [1]