In the second quarter of 2026, Ferrari pulled in €1.938 billion in net revenues, up 8% year-over-year, or 11% at constant exchange rates. EBIT landed at a comfortable €605 million with a 31.2% margin, while EBITDA hit €755 million, boasting a ridiculous 39% margin. These are figures normal automakers would print, frame, and worship in their boardrooms. At Maranello, however, they simply raised full-year guidance and moved on with their day.
Quarterly net profit reached €463 million, translating to €2.62 per diluted share, while industrial free cash flow surged 39% to €276 million. But the real golden goose, explicitly highlighted by CEO Vigna, remains the bespoke personalization program. Ferrari clients don’t just buy a car; they construct a personalized monument to their own vanity.
Every carbon-fiber trim piece or custom paint code added to an order translates directly into astronomical profit margins without Maranello needing to crank out a single extra vehicle. It is a business model legacy OEMs stare at with equal parts envy and despair.
Meanwhile, Maranello found time to unveil two new models at absolute ideological extremes. First came the Ferrari Luce, the Prancing Horse’s first all-electric model—an inevitable, historical milestone received with the same blend of fascination and mild anxiety usually reserved for a chaotic distant relative arriving at a wedding. Then came the Ferrari 12Cilindri Manual: twelve atmospheric cylinders, a clutch pedal, and a total refusal to compromise with modern sensibilities. Vigna labels this dualism “complementarity”.
That brings us to the most absurd stat of the entire announcement: Ferrari’s order book already covers all of 2027. In an industry where premium manufacturers are dropping prices and sweating over softening demand, Maranello suffers from the tragic affliction of excessive popularity, strictly capped output, and unbreakable pricing power. The earnings call with analysts might be scheduled for this afternoon, but let’s be honest: the uncomfortable questions belong to everyone else.