Overview

• Ferrari shares fell as much as 16% intraday with a volatility halt and closed down nearly 15% in New York and more than 14% in Milan, marking the worst single‑day decline since its listings.
• Management reset its 2030 powertrain mix to 40% internal combustion, 40% hybrid and 20% fully electric, a pullback from an earlier 40% EV ambition.
• The company unveiled the Elettrica’s chassis and powertrain, saying first deliveries are expected in late 2026.
• Updated targets include around €9.0 billion in 2030 revenue, an EBITDA margin of at least 40% and adjusted earnings of at least €3.6 billion, with industrial free cash flow projected to exceed €8.0 billion over the plan period.
• For 2025 Ferrari raised guidance to revenue of at least €7.1 billion, adjusted EBITDA of at least €2.72 billion and EPS of at least €8.80, and it set a 40% dividend payout from 2025 with €3.5 billion in dividends and €3.5 billion in buybacks planned for 2027–2031.