Overview

• Ferrari shares sank nearly 15% by the close, after dropping as much as 16% intraday, the biggest single-day fall since its listings in New York and Milan.
• The company cut its 2030 fully electric mix target to 20% with a 40% ICE and 40% hybrid split, and it showed the Elettrica with first deliveries slated for late 2026.
• New decade-end goals call for about €9.0 billion in revenue and at least €3.6 billion in adjusted EBITDA, implying roughly 40% EBITDA and about 30% EBIT margins and more than €8.0 billion in industrial free cash flow over 2024–2030.
• Management nudged 2025 guidance higher to revenue of at least €7.1 billion, adjusted EBITDA of at least €2.72 billion, and adjusted EPS of at least €8.80.
• Ferrari set a 40% dividend payout from 2025 and outlined roughly €7.0 billion for 2027–2031 shareholder returns split between dividends and buybacks, as some analysts labeled the outlook conservative and CFRA cut the stock to sell.