Ferrari raised its financial outlook for 2026 after exceeding expectations for revenue and profit in the third quarter. Growth was supported by sales of higher-margin models and increased demand for customer personalisations. The Italian automaker also said its first electric model, the Luce, has already been assigned across all production planned for 2027, before deliveries begin and despite criticism of its design.
Chief executive Benedetto Vigna said that all the cars Ferrari expects to sell next year have been allocated. He did not disclose the planned production volume and said customers who express interest now will have to wait for delivery. Ferrari plans to begin deliveries in the fourth quarter of this year and hold test drives for customers and media in early 2027. Vigna said the company has no demand or production problems, while noting the industrial complexity of a model with many new technologies and components.
Ferrari’s order book now extends through 2028. The company said it had not seen a negative effect on demand from current geopolitical tensions. The Luce’s starting price is about $615,000, or roughly €530,000.
Ferrari reported net profit of €1.307 billion for the first nine months of the year, up 8% from the same period a year earlier. Third-quarter revenue rose 7% to €1.896 billion, or 10% at constant exchange rates. Operating profit increased 12% to €563 million, giving the company an operating margin of 29.7%. Adjusted EBITDA also rose 12%, to €753 million, with a margin of 39.7%. Net profit for the quarter was €431 million, up 13%.
Personalised finishes and equipment accounted for more than 21% of revenue from cars and spare parts. The 296 Speciale contributed to the results, while deliveries of the limited-edition F80 helped improve the product mix and margins. Deliveries of the Amalfi, 12Cilindri Spider and Purosangue also increased.
Ferrari delivered 3,368 cars between July and September, 33 fewer than in the same quarter of 2025, amid generational changes across several models. The company’s strategy of prioritising value per car over sales volume helped it maintain a higher level of profitability than the wider automotive industry.
Industrial free cash flow reached €567 million in the third quarter, up 43% year on year. At the end of September, Ferrari had a net industrial cash position of €219 million, compared with net industrial debt of €131 million at the end of June.
The company now expects adjusted EBITDA of at least €3 billion in 2026, up from its previous target of €2.97 billion. It also raised its revenue forecast and expects industrial free cash flow of up to €1.65 billion. Ferrari attributed the improved outlook mainly to stronger growth in personalisations, a less unfavourable currency impact and the performance of its Formula 1 team, which is second in the championship.
Vigna said Ferrari has two more model launches planned before the end of the year. The company’s electrification roadmap aims for fully electric vehicles to make up 20% of its range by 2030.
Sources: elDiario.es.