Ferrari anticipates at least 6% growth in core earnings for 2026, supported by last year’s five new model launches and the upcoming launch of its electric vehicle, the Luce EV. The news lifted Ferrari shares by up to 11% on Tuesday after the company exceeded fourth-quarter expectations.

The Milan-listed automaker plans to introduce five more models this year, with pre-orders for the Luce EV starting next month.

CEO Benedetto Vigna described early customer feedback as “very positive” and noted that the order book extends into 2027, led by the high-end Amalfi (€240,000) and 849 Testarossa (€460,000) models.

Shipments fell slightly to 13,640 cars last year as part of a strategy to manage a significant model transition, which will continue in 2026.

Adjusted EBITDA is projected at over €2.93 billion, up from €2.77 billion in 2025, when the company also generated more than €1.5 billion in cash from industrial activities, a 50% increase year-on-year.

Industry analysts described the results as strong, with full-year guidance for 2026 slightly above consensus.

In the fourth quarter, adjusted EBITDA rose 9% to €700 million, exceeding the €668 million forecast. Ferrari shares were up 9% at 15:45 GMT.

The company revised its electrification targets, now planning a 2030 lineup of 40% combustion engine, 40% hybrid, and 20% fully electric vehicles, down from the previous target of 40% EVs.