Ferrari has set out new long-term financial goals, forecasting net revenues of around €9bn ($10.42bn) by 2030 as the sports car maker halved its electric vehicle target. 

With a compound annual growth rate of roughly 5%, the company said growth will be largely supported by sports cars and related activities underpinned by its order book. 

The company said the projected revenue growth reflects a richer product mix and increased personalisation.  

It also expects racing and lifestyle to add positively to performance. 

Ferrari is targeting EBIT of at least €2.75bn in 2030, implying a margin of no less than 30%, driven by a mix that includes limited-edition models, an expanded range, and personalisation.  

Volume is expected to contribute, though to a smaller degree. Industrial costs and R&D are set to increase mainly due to depreciation and amortisation tied to product and infrastructure development. 

This underpins an EBITDA target of at least €3.6bn in 2030, with a margin of at least 40%.  

In a separate update, Ferrari outlined a revised 2030 sports car line-up comprising 40% internal combustion engine models, 40% hybrids and 20% fully electric vehicles.  

“In 2022, we announced a Scope 3 emissions reduction target of 40% per car by 2030 compared to 2021. Based on the improvements in our calculation methodology and data quality, we have updated our Scope 3 target, maintaining a science-based approach and raising our ambitions,” the group said.  

The shift accompanied by a preview of the technology for its first electric model.  

Ferrari presented the production-ready chassis and powertrain for the “elettrica” at a technology and innovation workshop, stating it plans to begin deliveries in late 2026. 

Ferrari executive chairman John Elkann said: “With the new Ferrari elettrica, we once again affirm our will to progress by uniting the discipline of technology, the creativity of design and the craft of manufacturing.” 

Furthermore, alongside the long-term financial goals, Ferrari published updated nearer-term targets. 

For 2024, it reported net revenues of €6.7bn. For 2025, the company lifted guidance, now expecting net revenues of at least €7.1bn, compared with a previous indication of over €7bn.  

Adjusted operating profit (EBIT) stood at €1.89bn in 2024 with a 28.3% margin; for 2025, the revised guidance points to at least €2.06bn and a margin of at least 29.0%, compared with a previous goal of at least €2.03bn.  

Adjusted diluted EPS was €8.46 in 2024. For 2025, Ferrari raised its adjusted diluted EPS outlook to at least €8.80, from at least €8.60 previously.