Ferrari Nv · MIL:RACE

Ferrari Nv — Q2 2026 Earnings Presentation

27 slides from Ferrari Nv's earnings presentation, Jul 30, 2026

  1. Slide 1: Q2 2026 Results

    Q2 2026 RESULTS MARANELLO, JULY 30, 2026

  2. Slide 2: Forward Looking Statement

    FORWARD LOOKING STATEMENT In this document, unless otherwise specified, the terms “we”, “our”, “us”, the “Group”, the “Company” and “Ferrari” refer to Ferrari N.V., individually or together with its subsidiaries, as the context may require. This document, and in particular the section entitled “2026

  3. Slide 3: Personalizations and Mix Continue to Drive Strong Results and 2026 Guidance Raise

    PERSONALIZATIONS AND MIX CONTINUE TO DRIVE STRONG RESULTS AND 2026 GUIDANCE RAISE Q2 2026 revenues at €1.94B, EBITDA(1) surpassing €750M and industrial free cash flow(1) generation at ~€275M The most complete and diversified product offering ever, with all three powertrains • Ferrari Luce, a milesto

  4. Slide 4: Q2 2026 Highlights

    Q2 2026 HIGHLIGHTS €1.94B €755M REVENUES EBITDA(1) 39.0% EBITDA(1) MARGIN >20% PERSONALIZATION RATE €276M ~€800M IFCF(1) GENERATION SHAREHOLDER REWARD Note: (1) Refer to notes to the presentation in the Appendix July 30, 2026 4

  5. Slide 5: Q2 2026 – Shipments and Model Change-Over

    Q2 2026 – SHIPMENTS(2)(3) AND MODEL CHANGE-OVER SHIPMENTS BREAKDOWN MODELS PHASING-IN MODELS GLOBAL DISTRIBUTION RANGE SPECIAL SERIES RANGE SUPERCAR 3,366 UNITS SUPERCAR REST OF APAC 1% 16% SPECIAL SERIES 16% MAINLAND CHINA, HONG KONG AND V8 V8 Hybrid V6 Hybrid V6 Hybrid V12 TAIWAN 6% Amalfi 849 Tes

  6. Slide 6: Net Revenues Bridge

    NET REVENUES BRIDGE Q2 2025 – 2026 (€M) +8.4% Net revenues reported Net revenues at constant currency +10.6% (7) +10.7% +2.3% +32.4% 157 26 1,949 1,938 5 101 (11) 100 1,787 1,761 75 75 207 209 (26) 205 202 1,641 1,629 1,507 1,484 Q2 2025 FX hedges Q2 2025 Q2 2025 w/o FX hedges Cars and spare parts(4

  7. Slide 7: EBIT Bridge

    EBIT BRIDGE Q2 2025 – 2026 (€M) EBIT reported +9.5% EBIT at constant currency(7) +16.2% 122 611 605 (8) (6) (10) 552 526 (6) (26) (13) Margin Margin Margin Margin 31.4% 31.2% 30.9% 29.9% EBIT Q2 2025 FX hedges EBIT Q2 2025 w/o Volume Mix / Price Ind. Costs / R&D SG&A Other EBIT Q2 2026 at Change in

  8. Slide 8: Industrial FCF and Net Industrial (Debt)/Cash Bridges

    INDUSTRIAL FCF AND NET INDUSTRIAL (DEBT)/CASH(1) BRIDGES MAR 31, 2026 – JUNE 30, 2026 (€M) 741 276 (103) 388 (126) 276 (236) (599) EBITDA Change in Net cash interest Capex(8) Industrial FCF (Industrial working capital, & Taxes Q2 2026 13 Activities only) provisions & Q2 2026 other (209) (131) March

  9. Slide 9: 2026 Guidance Raised

    2026 GUIDANCE RAISED (€B, unless otherwise stated) 2025 PREVIOUS UPWARD ACTUAL 2026 REVISED GUIDANCE 2026 Based on the updated assumptions: GUIDANCE • Stronger personalizations than initially expected NET REVENUES 7.15 ~7.50 ~7.60 • Lower than anticipated currency headwinds, net of hedges ADJ. EBITD

  10. Slide 10: Q&A

    Q&A 10

  11. Slide 11: Appendix

    APPENDIX 11

  12. Slide 12: Notes to the Presentation

    NOTES TO THE PRESENTATION 1. The term EBIT is used as a synonym for Operating profit. Adjusted metrics equaled 9. In April 2026 the Annual General Meeting approved a dividend distribution of Euro 640 the reported ones, since there were no adjustments impacting EBITDA, EBITDA million, of which Euro 5

  13. Slide 13: Non-GAAP Financial Measures

    NON-GAAP FINANCIAL MEASURES Operations are monitored through the use of various non-GAAP financial measures operational activities. that may not be comparable to other similarly titled measures of other companies. • Adjusted Net Profit represents net profit as adjusted for certain income and costs A

  14. Slide 14: Q2 2026 Highlights

    Q2 2026 HIGHLIGHTS SHIPMENTS(2) NET REVENUES (UNITS) (€M) Q2 '26 3,366 Q2 '26 1,938 -3.7% +8.4% Q2 '25 3,494 Q2 '25 1,787 EBIT(1) DILUTED EARNINGS PER SHARE (€M and margin %) (€) Q2 '26 605 31.2% Q2 '26 2.62 +9.5% +10.1% Q2 '25 552 30.9% Q2 '25 2.38 EBITDA(1) INDUSTRIAL FREE CASH FLOW(1) (€M and mar

  15. Slide 15: Group Shipments Breakdown

    GROUP SHIPMENTS BREAKDOWN(2)(3) BY REGION BY POWERTRAIN INTERNAL COMBUSTION 7,087 ENGINE (ICE) 3,494 6,802 70% 3,366 1,214 581 1,231 538 511 Q2 2026 274 185 440 HYBRID 30% 787 2,015 993 1,817 INTERNAL COMBUSTION ENGINE (ICE) 70% 1,856 1,646 3,347 3,314 H1 2026 HYBRID 30% Q2 2025 Q2 2026 H1 2025 H1 2

  16. Slide 16: Strong Track-Record in New Models Introduction

    STRONG TRACK-RECORD IN NEW MODELS INTRODUCTION RANGE MODELS INTRODUCED Model / year of delivery 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 RANGE MODELS 488 GTB 488 Spider GTC4LUSSO 812 Superfast GTC4LUSSO T Portofino F8 Tributo SF90 Stradale 812 GTS F8 Spider Roma SF90 Spider P

  17. Slide 17: Strong Track-Record in New Models Introduction

    STRONG TRACK-RECORD IN NEW MODELS INTRODUCTION SPECIAL SERIES AND LIMITED EDITION MODELS INTRODUCED Model / year of delivery 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 SPECIAL SERIES 458 Speciale A F12tdf 488 Pista 488 Pista Spider 812 Competizione 812 Competizione A SF90 XX St

  18. Slide 18: Key Performance Metrics and Reconciliations of Non-GAAP Measures

    KEY PERFORMANCE METRICS AND RECONCILIATIONS OF NON-GAAP MEASURES Q2 ‘26 Q2 ‘25 €M, unless otherwise stated H1 ‘26 H1 ‘25 1,938 1,787 Net revenues 3,786 3,578 919 846 Cost of sales 1,809 1,704 188 160 Selling, general and administrative costs 349 309 218 225 Research and development costs 463 458 12

  19. Slide 19: Reconciliations: Net Revenues, EBITDA and EBIT at Constant Currency

    RECONCILIATIONS OF NON-GAAP MEASURES: TOTAL NET REVENUES, EBITDA AND OPERATING PROFIT (EBIT) AT CONSTANT CURRENCY Q2 ‘26 at constant H1 ‘26 at constant Q2 ‘26 €M, unless otherwise stated H1 ‘26 currency currency 1,629 1,641 Cars and spare parts 3,185 3,247 209 207 Sponsorship, commercial and brand 4

  20. Slide 20: Reconciliations: EBITDA and Adjusted EBITDA

    RECONCILIATIONS OF NON-GAAP MEASURES: EBITDA AND ADJUSTED EBITDA Q2 ‘26 Q2 ‘25 €M, unless otherwise stated H1 ‘26 H1 ‘25 463 425 Net profit 876 837 138 120 Income tax expenses 262 236 4 7 Financial expenses/(income), net 15 21 150 157 Amortization and depreciation 324 308 755 709 EBITDA 1,477 1,402

  21. Slide 21: Reconciliations: Adjusted Operating Profit (EBIT)

    RECONCILIATIONS OF NON-GAAP MEASURES: ADJUSTED OPERATING PROFIT (EBIT) Q2 ‘26 Q2 ‘25 €M, unless otherwise stated H1 ‘26 H1 ‘25 605 552 Operating profit (EBIT) 1,153 1,094 - - Adjustments - - 605 552 Adjusted Operating profit (EBIT) 1,153 1,094 Certain totals in the tables included in this document m

  22. Slide 22: Reconciliations: Adjusted Net Profit

    RECONCILIATIONS OF NON-GAAP MEASURES: ADJUSTED NET PROFIT Q2 ‘26 Q2 ‘25 €M, unless otherwise stated H1 ‘26 H1 ‘25 463 425 Net profit 876 837 - - Adjustments - - 463 425 Adjusted Net profit 876 837 Certain totals in the tables included in this document may not add due to rounding July 30, 2026 22

  23. Slide 23: Reconciliations: Adjusted Basic and Diluted EPS

    RECONCILIATIONS OF NON-GAAP MEASURES: ADJUSTED BASIC AND DILUTED EPS Q2 ‘26 Q2 ‘25 €M, unless otherwise stated H1 ‘26 H1 ‘25 Net profit attributable to the owners 462 424 875 836 of the Company Weighted average number 176,228 178,216 176,603 178,437 of common shares (thousand) 2.63 2.38 Basic EPS (€

  24. Slide 24: Capex and R&D

    CAPEX AND R&D Q2 ‘26 Q2 ‘25 €M, unless otherwise stated H1 ‘26 H1 ‘25 236 239 Capital expenditures(8) 489 463 122 110 of which capitalized development costs(13) (A) 234 220 Research and development 145 146 300 306 costs expensed (B) 267 256 Total research and development (A+B) 534 526 Amortization o

  25. Slide 25: Reconciliations: Free Cash Flow and Free Cash Flow from Industrial Activities

    RECONCILIATIONS OF NON-GAAP MEASURES: FREE CASH FLOW AND FREE CASH FLOW FROM INDUSTRIAL ACTIVITIES(14) Q2 ‘26 Q2 ‘25 €M, unless otherwise stated H1 ‘26 H1 ‘25 437 395 Cash flow from operating activities 1,300 1,242 Investments in property, plant and (236) (239) (489) (463) equipment and intangible a

  26. Slide 26: Reconciliations: Net Industrial (Debt)/Cash

    RECONCILIATIONS OF NON-GAAP MEASURES: NET INDUSTRIAL (DEBT) / CASH June 30, March 31, December December December December December €M, unless otherwise stated 2026 2026 31, 2025 31, 2024 31, 2023 31, 2022 31, 2021 Debt (3,166) (2,929) (2,884) (3,352) (2,477) (2,812) (2,630) of which: Lease liabiliti

  27. Slide 27: Debt and Liquidity Position

    DEBT AND LIQUIDITY POSITION NET INDUSTRIAL (DEBT) / CASH NET INDUSTRIAL (DEBT) / CASH (€M) (€M) At Jun. 30 At Mar. 31 At Dec. 31 2026 2026 2025 2024 2023 (131) Debt (3,166) (2,929) (2,884) (3,352) (2,477) Cash and Cash Equivalents (A) 1,486 1,857 1,467 1,742 1,122 (1,680) (1,549) Net (Debt)/Cash (1,

Ferrari N.V. Common Shares — Q2 2026 Earnings Presentation on 6ix