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(Sharecast News) - Luxury sports car maker Ferrari raised its full-year earnings and revenue forecasts on Tuesday following double-digit profit growth in the third quarter, supported by stronger vehicle personalisation revenues and deliveries of higher-value models.
The Italian group now expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of at least 3bn in 2026, up from its previous forecast of 2.97bn, with the EBITDA margin expected to reach at least 39.2%, compared with 39% previously.
Revenue guidance was increased to approximately 7.65bn from 7.6bn, while adjusted operating profit is now forecast to reach at least 2.285bn, up from 2.26bn.
The company attributed the upgrades to stronger-than-expected demand for vehicle personalisations, a smaller currency impact than previously anticipated and its second-place standing in the Formula 1 championship.
The improved outlook followed a 7% increase in third-quarter revenues to 1.90bn from 1.77bn a year earlier, or 10% growth at constant exchange rates. EBITDA rose 12% to 753m from 670m, lifting the margin to 39.7% from 37.9%, while operating profit increased 12% to 563m.
The improved performance came despite a slight decline in vehicle deliveries to 3,368 from 3,401 a year earlier, reflecting planned changes to Ferrari's model line-up.
Growth was supported by a richer product mix, particularly deliveries of the limited-edition F80 supercar, alongside stronger demand for personalisation options, including those offered on the Ferrari 296 Speciale family, the company said.
Chief executive Benedetto Vigna said: "Deliveries of our F80 supercar and personalisations, led by the Ferrari 296 Speciale family, support our robust financial growth and reflect our clients' ever-deepening desire to make each Ferrari uniquely their own."
He added: "Our order book now reaches into 2028, and we still have two more launches to come this year."
The stock was around 3% higher at 369.65 by 1600 GMT.