# Ferrari N.V. (RACE) - Recent Events Ferrari is a foreign private issuer and reports on Form 6-K. Amounts below are converted from euros to US dollars at the period-average rate for flows (closing rate for balances) and rounded. Percentage changes are as the company reports them in euros. Euro figures are given in parentheses where they help tie back to the filings. ## Filings that contain financial statements - Form 6-K filed November 3, 2026, accession 0001628280-26-069195: Ferrari N.V. Interim Report at and for the three and nine months ended September 30, 2026 (Exhibit 99.1). It holds the interim consolidated income statement, statement of financial position and statement of cash flows, with notes and management's discussion. - Form 6-K filed November 3, 2026, accession 0001648416-26-000141: third-quarter 2026 results press release (Exhibit 99.1). It furnishes summary results tables, an income statement summary, non-GAAP reconciliations, free cash flow and net industrial debt/cash tables, but not full financial statements. - Form 6-K filed July 30, 2026, accession 0001648416-26-000107: Interim Report at and for the three and six months ended June 30, 2026, with full interim financial statements. The companion 6-K filed the same day, accession 0001648416-26-000106, carries the second-quarter results press release. ## Third-quarter 2026 results and guidance (November 3, 2026) Accession 0001648416-26-000141 (results release) and 0001628280-26-069195 (interim report). - Net revenues were $2.18 billion (EUR 1,896 million), up 7% (10% at constant currency). Cars and spare parts were $1.82 billion, and sponsorship, commercial and brand revenues were $253.36 million. Ferrari attributed the growth to a richer sports car mix and higher personalizations. - Operating profit (EBIT) was $648.01 million, up 12% (23% at constant currency), a 29.7% margin against 28.4% a year earlier. EBITDA was $866.38 million, a 39.7% margin. Net profit was $495.28 million, and diluted earnings per share were $2.81 (EUR 2.44) against $2.50 (EUR 2.14) a year earlier. The company reported no adjustments to any of these measures in either period. The effective tax rate was 23.0%, which Ferrari said reflects the estimated benefit of the new Patent Box regime. - Shipments were 3,368 cars against 3,401 a year earlier. Mainland China, Hong Kong and Taiwan shipments fell to 143 from 248, while EMEA and Rest of APAC grew. - Industrial free cash flow was $652.38 million, up 43% on a re-presented prior-year figure. Net industrial cash at September 30, 2026 was $248.67 million, against net industrial debt at June 30, 2026. Total debt was $3.54 billion at quarter end. - Nine months: net revenues $6.60 billion (up 6%), operating profit $1.99 billion (up 7%), net profit $1.52 billion (up 7%), diluted EPS $8.58, industrial free cash flow $1.74 billion (up 23%). Shipments for the nine months were 10,170 against 10,488. - Guidance was raised for the second time this year. The company cited stronger personalizations than initially expected, lower currency headwinds net of hedges and a second-place Formula 1 constructors' ranking assumption. Updated 2026 targets, with prior targets in parentheses (converted at the average rate for the first nine months of 2026): - Net revenues of about $8.88 billion ($8.82 billion). - Adjusted EBITDA of at least $3.48 billion ($3.45 billion), at least a 39.2% margin (39.0%). - Adjusted EBIT of at least $2.65 billion ($2.62 billion), at least a 29.8% margin (29.5%). - Adjusted diluted EPS of at least $11.44 ($11.24). - Industrial free cash flow of up to $1.92 billion (at least $1.80 billion). - Ferrari said the guidance reflects current visibility on the effects of the Middle East crisis. - Management said the order book now reaches into 2028 and that two more launches are planned this year. ## Second-quarter 2026 results (July 30, 2026) Accessions 0001648416-26-000106 and 0001648416-26-000107. - Net revenues for the quarter ended June 30, 2026 were $2.25 billion (EUR 1,938 million), up 8%. EBIT was $703.72 million (EUR 605 million), a 31.2% margin, and net profit was $538.55 million. Ferrari raised its 2026 guidance at that time, citing continued strength in personalizations. Management said the order book entirely covered 2027. ## Capital returns: share repurchases - Ferrari is executing a multi-year buyback program of approximately $4.05 billion (EUR 3.5 billion) running to 2030, announced at its October 2025 Capital Markets Day. Purchases began January 5, 2026. - The second tranche of $292.43 million (EUR 250 million), announced April 10, 2026, was completed with purchases through August 28, 2026. It was filed September 1, 2026, accession 0001648416-26-000111. The tranche bought 655,884 shares on Euronext Milan and 159,855 on the NYSE. - Third tranche, announced in the same September 1, 2026 filing: up to $287.62 million (EUR 250 million), to run from September 2, 2026 to no later than December 16, 2026. Up to $230.10 million (EUR 200 million) is executed on Euronext Milan under a non-discretionary agreement with a bank, and up to $57.52 million (EUR 50 million) on the NYSE under a separate mandate. The tranche implements the authority from the April 15, 2026 shareholders' meeting to repurchase up to 10% of common shares, which expires October 14, 2027. - Weekly purchase reports followed through the quarter. The report filed November 2, 2026 (accession 0001648416-26-000138) shows that, as of October 30, 2026, Ferrari had bought 447,885 shares for the third tranche (370,061 on Euronext Milan and 77,824 on the NYSE). Cumulative purchases since January 5, 2026 were 2,149,069 shares for a total of $776.46 million (EUR 668.7 million). Treasury shares were 2,038,689, or 1.15% of issued common shares. - Share repurchases during the third quarter were $199.05 million (EUR 173 million), and the company bought a further 176,262 shares for $68.87 million (EUR 61.5 million) between October 1 and October 30, 2026 (accession 0001648416-26-000141). - Interim report (accession 0001628280-26-069195): a dividend of $4.25919 (EUR 3.615) per common share was approved in April 2026, against $3.39210 (EUR 2.986) a year earlier. Dividends paid in the nine months were $739.56 million (EUR 637 million). ## Commercial and other announcements - September 17, 2026 (accession 0001648416-26-000118): Ferrari S.p.A. signed a partnership agreement with Rakuten Group, Inc., effective January 1, 2027. No financial terms were disclosed. - October 16, 2026 (accession 0001648416-26-000132): Ferrari announced that it would release third-quarter results on November 3, 2026. ## Acquisitions - The interim report (accession 0001628280-26-069195) records that in June 2026 Ferrari acquired a further 9 percent interest in Ferrari Korea Co., Ltd, following its October 2025 purchase of a 51 percent controlling interest; the price is not disclosed. ## Financing - The interim report (accession 0001628280-26-069195) records EUR 300 million (about $348.30 million) in proceeds from new bank borrowings in the nine months ended September 30, 2026. - In October 2026 Ferrari renewed its US retail securitization program, which had a $1,100 million funding limit and a December 2026 maturity. The renewed program has a $1,200 million funding limit and matures in October 2028 (Debt note, securitization table footnote 3, same interim report). ## Not reflected in these filings Apart from the Ferrari Korea purchase above, the 6-K filings reviewed carry no acquisitions or disposals, management or board changes, or legal and regulatory outcomes for the period. The remaining 6-Ks in the period are routine buyback reports.