STRONG PERFORMANCE IN 2025 SETS THE FOUNDATION FOR CONTINUED GROWTH IN 2026
- Net revenues of Euro 7,146 million, up 7% versus prior year
- Operating profit (EBIT) of Euro 2,110 million, up 12% versus prior year, with Operating profit (EBIT) margin of 29.5%
- Net profit of Euro 1,600 million and diluted EPS at Euro 8.96
- EBITDA of Euro 2,772 million, up 8% versus prior year, with EBITDA margin of 38.8%
- Industrial free cash flow of Euro 1,538 million, up 50% versus the prior year
- 2026 guidance targeting Euro ~7.50 billion revenues and 39.0% EBITDA margin, supported by strong product mix
Maranello (Italy), February 10, 2026 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today announces its consolidated preliminary unaudited results for the fourth quarter and twelve months ended December 31, 2025.
“In 2025, Ferrari confirmed the strength of its carefully-managed volume strategy, pursuing value” said Benedetto Vigna, CEO of Ferrari. “Our remarkable financial performance – with revenues up 7% to over Euro 7.1 billion, an EBIT margin up 120 basis points to 29.5%, and industrial free cash flow surpassing Euro 1.5 billion – was sustained by product mix, personalizations and sponsorships. Demand for Ferrari remains very solid and is managed with discipline in every market reflecting our exclusivity model: our order book extends towards the end of 2027. We remain true to our identity: forward-looking and defined by our will to progress”.
| For the three months ended | (In Euro million, | For the twelve months ended | ||||||
| December 31, | unless otherwise stated) | December 31, | ||||||
| 2025 | 2024 | Change | 2025 | 2024 | Change | |||
| 3,152 | 3,325 | (173) units | Shipments (units) | 13,640 | 13,752 | (112) units | ||
| 1,802 | 1,736 | 66 | 4% | Net revenues | 7,146 | 6,677 | 469 | 7% |
| 513 | 468 | 45 | 10% | Operating profit (EBIT) | 2,110 | 1,888 | 222 | 12% |
| 28.5% | 27.0% | 150 bps | Operating profit (EBIT) margin | 29.5% | 28.3% | 120 bps | ||
| 381 | 386 | (5) | (1%) | Net profit | 1,600 | 1,526 | 74 | 5% |
| 2.14 | 2.14 | – | – | Basic EPS (in Euro) | 8.97 | 8.47 | 0.50 | 6% |
| 2.14 | 2.14 | – | – | Diluted EPS (in Euro) | 8.96 | 8.46 | 0.50 | 6% |
| 700 | 643 | 57 | 9% | EBITDA | 2,772 | 2,555 | 217 | 8% |
| 38.8% | 37.0% | 180 bps | EBITDA margin | 38.8% | 38.3% | 50 bps | ||
| 321 | 221 | 100 | 46% | Free Cash Flow from Industrial Activities | 1,538 | 1,027 | 511 | 50% |
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