FERRARI CAPITAL MARKETS DAY TARGETING NEW HEIGHTS
Ferrari upgrades the 2025 guidance, exceeding the 2026 business plan’s profitability targets one year in advance
Strong product mix over the plan sustains total revenues of Euro ~9.0 billion and an EBITDA of at least Euro 3.6 billion in 2030
Continuous innovation in products for the longer term, with cumulated capital expenditures of Euro ~4.7 billion over the plan and a significant portion dedicated to the next generation of sports cars
Robust industrial free cash flow generation of Euro ~8.0 billion over the plan and improved cash conversion to more than 50%
Shareholders remuneration of Euro ~7.0 billion, equally allocated to a new share repurchase program and dividends, with a pay-out increased from 35% to 40% of adjusted net profit
Maranello (Italy), October 9, 2025 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) today presented, at its Capital Markets Day, the profitability targets(1) for the end of the decade.
The Company is now nearing completion of its 2022–2026 business plan in full alignment with the commitments made. Indeed, Ferrari upgrades the 2025 guidance, exceeding its 2026 profitability targets one year in advance.
In the 2030 Strategic Plan, Ferrari targets to achieve net revenues of Euro ~9.0 billion, with a compounded annual growth rate of ~5%, largely driven by Sports cars and other car-related activities, sustained by the visibility granted by the order book. Such increase in revenues is driven by the enrichment of the product mix, along with personalizations. Revenues from Racing and Lifestyle are also projected to positively contribute to the Company’s performance.
EBIT to reach at least Euro 2.75 billion in 2030, with a margin of at least 30%, driven by the strong product mix, including limited-edition models, the enriched product range as well as personalizations. Volume is projected to positively contribute, although at a lesser extent. Industrial costs and R&D will grow mainly due to depreciation and amortization linked to products and infrastructure developed, racing activities and sports cars research expenses. SG&A will increase in line with revenues evolution, reflecting communication and marketing activities, lifestyle and the organizational development.
As a result, in 2030 the Company targets an EBITDA of at least Euro 3.6 billion, with an EBITDA margin of at least 40%. Such strong profitability translates into a remarkable industrial free cash flow generation and an improved cash conversion at above 50%. Indeed, Ferrari aims to generate a cumulated industrial free cash flow of Euro ~8.0 billion over the 2026-2030 period, mostly sustained by the growing profitability, partially offset by cumulated capital expenditures of Euro ~4.7 billion and other operating changes.
Ferrari today publishes the following financial targets:
The Company decided to proceed with a higher shareholder reward, resulting in the proposal to:
increase the dividend pay-out to 40% of adjusted net profit starting from the 2025 annual results, leading to a cumulated dividend distribution of Euro ~3.5 billion from 2027 to 2031, and
start a new share repurchase program of Euro ~3.5 billion to be executed from 2026 to the end of the plan, in line with the progress of industrial free cash flow generation.