法拉利发布强劲2025年财报，公布3.5亿欧元回购计划和更高股息发放

summarizeSummary

Ferrari's annual report for 2025 highlights a period of strong financial growth, with key metrics like net revenues, operating profit, and net profit all showing significant increases. This positive performance is further bolstered by a substantial new €3.5 billion share buyback program and a proposed increase in the dividend payout ratio, signaling strong shareholder returns and confidence in future cash generation. The strategic launch of the Ferrari Luce, the company's first full-electric model, underscores its commitment to innovation and adapting to evolving automotive technologies, while maintaining its brand exclusivity. Investors should view this filing as a strong indicator of Ferrari's continued financial health and its proactive approach to capital management and product development.

check_boxKey Events

• 强劲的2025财务表现

  净销售额增长7.0%，达到了71.5亿欧元，营业利润增长11.8%，达到21.1亿欧元，净利润增长4.8%，达到16亿欧元。基本每股收益达到8.97欧元，确认了之前在2026-02-10提交的6-K报告中指出的强劲业绩。

• 新€3.5亿股息回购计划

  该公司宣布了一项约 35 亿欧元的新多年股票回购计划，预计将于 2026 年至 2030 年执行，随着 2025 年前几期的完成。这是资本配置事件的重要一步，基于 2026 年 2 月 17 日和 2026 年 1 月 26 日发表的 6-K 文件中的前期回购更新。

• 增加股息支付政策

  Ferrari proposes to increase its expected dividend payout ratio from 35% to 40% of Adjusted Net Profit, starting from the 2025 annual results. This follows the dividend recommendation disclosed in the 6-K filing on 2026-02-19 and represents a material policy change.

• 首款全电动车型上市

  该公司在2025年推出了六款新车型，包括费拉利Luce，这是该公司的第一款全电动车型。该公司在2025年10月公布了车辆的关键技术组件，并在2026年2月公布了内部设计和车型名称，这标志着产品开发的重大战略步骤。

auto_awesomeAnalysis

Ferrari's annual report for 2025 highlights a period of strong financial growth, with key metrics like net revenues, operating profit, and net profit all showing significant increases. This positive performance is further bolstered by a substantial new €3.5 billion share buyback program and a proposed increase in the dividend payout ratio, signaling strong shareholder returns and confidence in future cash generation. The strategic launch of the Ferrari Luce, the company's first full-electric model, underscores its commitment to innovation and adapting to evolving automotive technologies, while maintaining its brand exclusivity. Investors should view this filing as a strong indicator of Ferrari's continued financial health and its proactive approach to capital management and product development.