Ferrari Group (FERGR) Q1 2026 TU earnings summary

Executive summary

• Revenue grew 7.4% year-over-year at constant currency in Q1 2026, reaching €93.1 million, driven by robust demand and disciplined execution across key markets.

• Strong organic revenue growth in North America, Brazil, and Rest of the World, with a strategic acquisition in Brazil supporting expansion.

• Newly established hubs in Saudi Arabia and Vietnam began generating revenue, while earlier hubs like Botswana matured into stable contributors.

Financial highlights

• Reported revenue increased 3.7% year-over-year to €89.9 million, with organic revenue up 7.3% to €93.0 million, reflecting positive shipment trends.

• Europe revenue rose 4.5% to €52.3 million, North America & Brazil up 20.6% to €14.3 million, and Rest of the World up 6.2% to €10.9 million; Asia declined 14.8% due to softness in China.

• International Services revenue grew 4.5% organically, Domestic Services surged 26.9%, while Warehouse & Logistics Services declined 6.2% due to a lost contract in China.

• Special & Other Services achieved 4.9% organic growth despite event postponements in the UAE.

Outlook and guidance

• 2026 objectives reaffirmed despite macroeconomic uncertainty and geopolitical tensions in the Middle East.

• Pipeline of direct openings in strategic markets remains on track.