Ferrari raises 2026 guidance as personalisation demand lifts results

30. Jul 2026

(AWP Alliance News) - Ferrari NV on Thursday reported higher second-quarter and first-half earnings, supported by a richer product mix and growing demand for vehicle personalisation, prompting the luxury carmaker to raise its full-year guidance.

Net revenue rose by 8% to EUR1.94 billion in the second quarter from EUR1.79 billion a year earlier. At constant exchange rates, revenue increased by 11%.

Revenue from Cars &n Spare Parts climbed 8% to EUR1.63 billion, driven by a richer sports car mix and a greater contribution from personalisation programmes.

Sponsorship, Commercial & Brand revenue increased 2% to EUR209 million, as higher sponsorship income was partly offset by lower commercial revenue related to the company's Formula One championship position in the previous year.

Other revenue also increased, mainly due to the supply of engines to other Formula One teams.

Foreign-exchange movements, net of hedging, had a negative impact, particularly due to the US dollar and Japanese yen.

Earnings before interest and taxes increased by 10% to EUR605 million from EUR552 million, or by 16% at constant exchange rates. The operating margin improved to 31.2% from 30.9%.

Earnings before interest, tax, depreciation and amortisation rose by 7% to EUR755 million from EUR709 million, or 12% at constant exchange rates. The corresponding margin narrowed to 39.0% from 39.7%.

Net profit increased by 9% to EUR463 million from EUR425 million. Earnings per share rose 11% to EUR2.63 from EUR2.38, while diluted earnings per share increased 10% to EUR2.62.

Industrial free cash flow climbed 39% to EUR276 million from a restated EUR198 million in the second quarter of 2025.

For the first six months of 2026, revenue increased by 6% to EUR3.79 billion from EUR3.58 billion. Earnings before interest and taxes rose 5% to EUR1.15 billion, although the margin edged down to 30.5% from 30.6%.

First-half Ebitda increased by 5% to EUR1.48 billion from EUR1.40 billion, with the margin declining to 39.0% from 39.2%.

Net profit for the period rose 5% to EUR876 million from EUR837 million, while diluted earnings per share increased 6% to EUR4.95 from EUR4.68. Industrial free cash flow advanced 14% to EUR929 million from a restated EUR818 million.

"The solid second-quarter results reflect our execution discipline and the continued effectiveness of our strategy," said Chief Executive Officer, Benedetto Vigna.

"The sustained personalisation trend allows us to raise our 2026 guidance," he added, noting that Ferrari's order book now fully covers 2027.

Vigna also highlighted the presentation of the Ferrari Luce and Ferrari 12Cilindri Manuale during the quarter, saying the two models demonstrate the company's ability to combine tradition and innovation. Ferrari now has the broadest model range in its history, he said.

Ferrari raised its 2026 net revenue guidance to approximately EUR7.60 billion from EUR7.50 billion, compared with EUR7.15 billion generated in 2025. It now expects adjusted earnings before interest, taxes, depreciation and amortisation of at least EUR2.97 billion, up from its previous forecast of EUR2.93 billion and compared with EUR2.77 billion in 2025, while maintaining a margin target of at least 39.0% against 38.8% last year.

Adjusted earnings before interest and taxes are now expected to reach at least EUR2.26 billion, compared with the previous forecast of EUR2.22 billion and EUR2.11 billion reported in 2025. The associated margin is expected to remain at or above 29.5%, in line with the 2025 level.

The company also raised its adjusted diluted earnings-per-share forecast to at least EUR9.68 from EUR9.45, compared with EUR8.96 in 2025. Industrial free cash flow is now expected to be at least EUR1.55 billion, up from the previous guidance of EUR1.50 billion and broadly in line with EUR1.54 billion last year.

The revised outlook reflects stronger-than-expected personalisation and a smaller adverse currency impact. Ferrari continues to expect a significant change in its model mix, higher racing and lifestyle revenue and increased spending on its brand, racing operations and digital activities.

Ferrari shares were up 1.1% at EUR343.40 each on Thursday afternoon in Milan.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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