Ferrari Group (FERGR) Q4 2025 TU earnings summary

Executive summary

• Achieved robust revenue growth of 5.2% in Q4 2025 and 4.8% for the full year at constant currency, in line with guidance.

• Growth momentum driven by network expansion and strong performance in North America, Brazil, and Rest of the World.

• Asia saw organic revenue growth, especially in Malaysia, South Korea, and Thailand, offsetting softness in China.

Financial highlights

• Q4 2025 revenue rose to €99.6M at constant currency (+5.2% YoY); reported revenue €96.0M (+1.4% YoY).

• FY 2025 revenue reached €365.5M at constant currency (+4.8% YoY); reported revenue €359.4M (+3.0% YoY).

• Europe FY revenue grew 4.4% to €212.4M; North America & Brazil FY revenue up 5.3% to €50.0M.

• Asia FY revenue declined 7.3% reported, but Q4 organic growth was 13.9%.

Outlook and guidance

• Continued focus on disciplined network expansion and investment in talent and technology to support medium-term growth.

• Operations in Vietnam to commence in 2026, strengthening the regional growth platform.