In 2025, Ferrari demonstrated that its scarcity-driven model remains resilient. Shipments were essentially flat year-over-year, yet the company achieved revenue growth of approximately 7% through a richer product mix and increased personalization fees. In the first nine months, EBITDA margins averaged in the high 30% range and operating margins approached 30%, placing Ferrari more in line with leading luxury brands than mass-market automakers. This performance underlines that Ferrari can drive financial gains without sacrificing exclusivity or resorting to volume-based strategies.

Ferrari entered the year reaffirming its medium-term targets—seeking continued top-line growth, margin expansion and robust free cash flow—while explicitly avoiding aggressive volume targets. Management reiterated its 2030 vision of nearly €9 billion in revenue and EBITDA margins around 40%. Although some investors initially viewed the tone as conservative, this disciplined stance reinforced Ferrari’s commitment to predictable execution rather than speculative promises, preserving long-term credibility even as electrification timelines drew scrutiny.

The company confirmed its first fully electric model will launch in 2026, and by 2030 it expects a mix of roughly 40% internal combustion, 40% hybrid and 20% fully electric vehicles. While slower than some market assumptions, this phased approach prioritizes brand authenticity—retaining the signature engine sound, driving dynamics and emotional appeal—and avoids compromising its heritage for the sake of arbitrary EV targets. For investors, this strategy emphasizes Ferrari’s competitive moat: emotional leadership rather than first-mover technological prowess.

Ferrari has published its 2026 financial calendar, with quarterly earnings releases set for 10 February (Q4 and FY 2025), 5 May (Q1), 30 July (Q2) and 3 November (Q3). A conference call will accompany each report, with live webcasts accessible via the company’s website. The Annual General Meeting to approve the 2025 financial statements is scheduled for 15 April 2026. This clear timetable enables investors to track performance against the company’s disciplined targets and ensures transparency around key strategic milestones.