MILAN, Feb 10 (Reuters) - Ferrari on Tuesday forecast at least a 6% rise in core earnings in 2026, supported by new models, and posted fourth‑quarter 2025 results that beat analyst expectations, lifting its share price by 8%.
Chief Executive Benedetto Vigna said demand for Ferrari cars remained "very solid" and was being managed to protect the brand’s exclusivity in every market. "Our order book extends towards the end of 2027," he said.
Ferrari said it expected earnings before interest, taxes, depreciation
and amortisation (EBITDA) of over 2.93 billion euros ($3.49 billion) in the full-year 2026, versus a 2.77-billion-euro result in 2025, broadly in line with company forecasts.
Milan-listed shares rose as much as 10% after results were published. By 1255 GMT they were up 8.4%.
Ferrari said cash generation from industrial activities stood at more than 1.5 billion euros in 2025, up 50% year-on-year.
In the fourth quarter, adjusted EBITDA rose 9% to 700 million euros, topping a 668-million-euro analyst consensus from a Reuters poll. Net revenues grew 4% in the quarter, also exceeding analysts' expectations.
SHARE PRICE REBOUND
Before Tuesday's rebound, Ferrari shares had lost almost a third of their value since early October, when the company unveiled a new business plan which analysts and investors saw as too conservative compared to stock price valuations at that time.
Ferrari's plan set targets for revenues of approximately 9 billion euros and adjusted core profits of over 3.6 billion euros in 2030, while also marking a shift towards a less ambitious electrification strategy.
The Italian company, which on Monday released some teaser images of its first fully-electric car, called Luce, said it would present the eagerly awaited new model on May 25 in Rome.
The carmaker is now aiming to have 40% internal combustion engine models, 40% hybrids and 20% fully-electric cars in its 2030 lineup. In its previous business plan it targeted 40% EVs, 40% hybrids and 20% combustion engine models by 2030.
($1 = 0.8401 euros)
(Reporting by Giulio Piovaccari, editing by Alvise Armellini and Louise Heavens)
