Ferrari will pay record annual bonuses to thousands of employees after reporting a sharp rise in operating profit for 2025, even as vehicle deliveries dipped slightly year on year.
The Italian luxury carmaker said operating profit rose 12 per cent to €2.1 billion, while net revenues increased 7 per cent to €7.1 billion. Deliveries totalled 13,640 cars, 112 fewer than in 2024.
Despite the marginal decline in shipments, Ferrari’s profitability strengthened, underlining its strategy of prioritising high-margin models over production volumes.
During the company’s fourth-quarter earnings call, chief executive Benedetto Vigna said eligible employees in Italy could receive bonuses of up to €14,900 under what Ferrari describes as its competitive annual award scheme. The company employs roughly 5,000 people in Italy.
The payout reflects Ferrari’s continued focus on pricing discipline, product mix and limited production runs — a model that has insulated earnings from short-term fluctuations in output. By concentrating on exclusivity and high-specification vehicles, the carmaker has sustained margins even as global demand conditions remain uneven.
Ferrari’s forward order book also signals resilience. Management said production for 2026 is already fully allocated, with orders for 2027 largely secured. The company plans to unveil five new models this year, including its first fully electric vehicle, the Luce.
The Luce marks Ferrari’s entry into the battery-electric segment, but the group does not intend to abandon combustion engines. By 2030, Ferrari expects 40 per cent of its line-up to consist of internal combustion models, 40 per cent hybrids and 20 per cent fully electric vehicles.
Executives have indicated that development of V6, V8 and V12 engines will continue, with an emphasis on enhancing performance while complying with tightening emissions standards. Future engines, they suggested, could surpass existing output benchmarks, including the F80’s 296 horsepower per litre from its V6.
Ferrari has not signalled any shift in its production strategy, maintaining tight supply to protect brand equity and margins. With its order pipeline largely secured through 2027, the company appears well positioned to balance electrification ambitions with its traditional performance-led identity.