Core Insights - The company achieved record performance in the fiscal year 2025, with net revenue of €7.146 billion, a year-on-year increase of 7%, and EBIT reaching €2.110 billion, up 12% [1] - Industrial free cash flow significantly increased by 50% to €1.538 billion [1] Performance Overview - The EBIT margin for the fourth quarter was 28.5%, an increase of 1.5 percentage points year-on-year; the EBITDA margin reached 38.8%, up 1.8 percentage points [2] - The improvement was primarily driven by a higher proportion of high-value models and the deepening of customization services [2] Business Status - The company's order book extends to the end of 2027, with strong demand for new models such as Amalfi and 849 Testarossa, providing high certainty for deliveries and profitability over the next two years [3] - Despite a year-on-year decline in global deliveries in the fourth quarter, the company maintains a "volume at price increase" strategy, ensuring profit growth through product structure optimization [3] Business and Technological Development - The first all-electric model, Luce, has completed its debut, with a launch event planned for May 2026 [4] - The company has set a product structure target for 2030 of 40% combustion, 40% hybrid, and 20% electric, adopting a gradual transition strategy [4] Financial Movements - Over €1.3 billion was returned to shareholders through dividends and stock buybacks in 2025, with plans to increase the dividend payout ratio to 40% of net profit, reflecting the company's ample cash flow and commitment to shareholder returns [5] Company Performance Goals - The company expects revenue of approximately €7.5 billion in 2026, with adjusted earnings per share of at least €9.45, and industrial free cash flow to remain above €1.5 billion [6]

Core Insights - Ferrari reported record high revenue and profit for 2025, with significant progress in its electrification strategy and an optimistic outlook for 2026 [1] Financial Performance - In the fiscal year 2025, Ferrari achieved net revenue of €7.146 billion, a year-on-year increase of 7% [2] - The EBIT reached €2.110 billion, up 12% year-on-year, with an EBIT margin of 29.5% [2] - Net profit was €1.600 billion, reflecting a 5% increase compared to the previous year [2] - Industrial free cash flow surged by 50% to €1.538 billion [2] Company Fundamentals - In Q4, the EBIT margin was 28.5%, an increase of 1.5 percentage points year-on-year; EBITDA margin reached 38.8%, up 1.8 percentage points [3] - The improvement was primarily driven by a higher proportion of high-value models and deeper customization services [3] Business Developments - The company has orders secured until the end of 2027, with strong demand for new models like Amalfi and 849 Testarossa, providing certainty for deliveries and profits over the next two years [4] - Despite a year-on-year decline in global deliveries in Q4, the company maintained a "volume at price increase" strategy, ensuring profit growth through product mix optimization [4] Strategic Initiatives - The first all-electric model, Luce, has been launched, with a planned unveiling event in May 2026 [5] - The company has set a product structure target for 2030 of 40% gasoline, 40% hybrid, and 20% all-electric, adopting a gradual transition strategy [5] Capital Allocation - In 2025, Ferrari returned over €1.3 billion to shareholders through dividends and stock buybacks, with plans to increase the dividend payout ratio to 40% of net profit, reflecting strong cash flow and commitment to shareholder value [6] Performance Targets - For 2026, the company expects revenue of approximately €7.5 billion, an EBITDA margin of no less than 39.0%, adjusted earnings per share of at least €9.45, and industrial free cash flow to remain above €1.5 billion [7]

. FY 2025 RESULTS MARANELLO, FEBRUARY 10, 2026 STRONG PERFORMANCE IN 2025 SETS THE FOUNDATION FOR CONTINUED GROWTH IN 2026 Revenues at ~€7.1B, EBIT(1) at ~€2.1B with +12% growth YoY and industrial free cash flow(1) generation above €1.5B Further enrichment of product line-up with 6 new models, among which the initial steps of reveal of the Ferrari Luce FORWARD LOOKING STATEMENT This document, and in particular the section entitled "2026 Guidance", contain forward-looking statements. These statements may inc ...

Ferrari’s $262,000 Amalfi isn’t perfect. That’s part of the charm https://t.co/UCRHekVRSm ...

Core Insights - Ferrari's newest model, the Amalfi, is attracting a younger demographic, with the first two sales in China going to clients under 40 years old, and approximately 40% of potential buyers being new to the brand [1][3] - The debut of the Amalfi is performing better than the previous model, the Purosangue, indicating strong demand and positive market reception [2] - The influx of younger buyers is expected to drive Ferrari's next phase of high-margin growth, enhancing the brand's exclusivity and order book visibility extending through 2027 [3][4] Demand and Customer Profile - The Amalfi's early success with under-40 clients signifies a shift in Ferrari's customer profile, particularly in the Chinese market [3] - CEO Benedetto Vigna emphasized that attracting new customers was a key objective for the Amalfi, which appears to be successfully achieved [3] Business Strategy - Ferrari maintains its focus on innovation rather than volume, asserting that pricing power is driven by innovation rather than production scale [5] - The company's approach to innovation, from design to personalization, helps sustain high margins even as it broadens its customer base [5] Investor Implications - The introduction of the Amalfi and the engagement of younger customers are seen as pivotal for Ferrari's growth, suggesting that the luxury brand's competitive edge is not only maintained but is expanding [6]