Italy · Delayed Price · Currency is EUR Ferrari Earnings Call Transcripts
Fiscal Year 2025
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Record 2025 results featured €7.1B revenue, double-digit EBIT growth, and €1.5B free cash flow. 2026 guidance calls for further growth, new model launches, and a strong order book, despite FX headwinds and higher CapEx.
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Q3 2025 saw 7.4% revenue growth to €1.8B, strong EBIT and cash flow, and robust demand with the order book extending into 2027. Guidance for 2025 was raised, reflecting higher profitability and ongoing innovation, while the powertrain mix was recalibrated to favor ICE and hybrid.
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The company reaffirmed its commitment to exclusivity, innovation, and agility, revising its 2030 powertrain mix to 40% IC, 40% hybrid, and 20% electric. Financial targets include €9B in revenues and €8B in free cash flow by 2030, with increased shareholder returns and a 25% reduction in absolute carbon footprint.
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Q2 2025 saw revenue grow 4.4% year-over-year to €1.8B, with strong EBITDA and cash flow despite flat deliveries. Guidance for 2025 is confirmed with higher confidence, supported by robust order books, new model launches, and effective cost management.
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Q1 2025 saw double-digit growth in revenue and profitability, with strong cash flow and robust demand across all regions. Guidance for 2025 is maintained despite tariff and macroeconomic risks, and new product launches and lifestyle initiatives continue to drive brand momentum.
Fiscal Year 2024
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Record 2024 results with double-digit revenue and profit growth, strong cash flow, and robust order book through 2026. Six new models and the first full electric launch planned for 2025, with continued focus on personalization, sustainability, and shareholder returns.
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Q3 2024 saw 7% revenue growth to €1.6B, double-digit profitability, and strong cash flow, driven by product mix and personalizations. The F80 supercar launch and robust order book support increased confidence in 2024 guidance.
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Q2 2024 saw revenue up 16% year-over-year to €1.7B, with strong margins and robust demand for new models and personalization. Guidance for 2024 was upgraded, and the order book extends into 2026, supported by innovation and strong brand momentum.