Ferrari Announces Partnership with Rakuten Group
On September 17, Ferrari N.V. (NYSE:RACE) announced a partnership with technology company Rakuten Group Inc., set to begin on January 1, 2027. While the scope and financial details of the deal were not disclosed, it serves as a strategic signal rather than an immediate revenue driver. The more significant news lies in Ferrari's updated guidance for 2026, raised due to increased demand for personalized vehicle options beyond initial expectations. In Q2, operating profit rose by 10% compared to an 8% increase in revenue, indicating improved profitability per euro of sales. Deliveries of models like the Purosangue and 296 Speciale family continued strong despite a planned model transition. Ferrari's industrial free cash flow increased by 39%, reaching €276 million, while shareholder returns exceeded €800 million through dividends and buybacks. However, some tailwinds are temporary—such as lower depreciation costs during the model changeover—and expenses like marketing and brand development are expected to rise in coming quarters.
Tickers: $RACE
Topics: automotive financial results partnerships