Ferrari N.V. Common Shares

Good day and thank you for standing by. Welcome to the Ferrari 2026 third quarter conference call and webcast. At this time all participants are in listen only mode. After the speaker's presentation there will be the question and answer session. To ask a question during the session you need to press star 1 1 on your telephone keypad. You will then hear an automatic message advising your hand is raised. To withdraw a question please press star 1 and 1 again. Please be advised that this conference is being recorded. I would now like to hand the conference over to our first speaker today, Nicoletta Russo, Head of Investor Relations. Please go ahead.

Thank you, Nadia, and welcome to everyone who is joining us. Today we plan to cover the Group Q3 2036 operating results and the duration of the call is expected to be around 45 minutes. The call will be offered by the Group CEO, Mr. Benedetto Vigna, and Group CFO, Mr. Antonio Picca Piccon. All relevant materials are available in the investor section of the Ferrari corporate website and at the end of the presentation we will be available to answer your questions. Before we begin, let me remind you that any forward-looking statements we might make during today's call are subject to the risks and uncertainties mentioned on page 2 of today's presentation and the call will be governed by this language. With that said, I'd like to turn the call over to Benedetto.

Thank you Nadia, thank you Nicoletta and good morning or good afternoon to everyone joining us today. Today here we are pleased to share with you three important updates. One, the financial results of the third quarter. Two, the progress in the three sources of our brand. And last but not least, an update on the full year guidance. But before that, first on the brand side, Ferrari climbed the three places in Interbrand's Best Global Brands 26, confirming itself as the world's most valuable Italian brand. Second, my sincere thanks go to the teams, to our existing and new clients for their loyalty and trust, and to all our business partners who work alongside us every day. As underlined in previous calls, we remain fully focused on innovation, both in terms of products and experiences we offer, and execution, consistently moving along the trajectory set out at our Capital Market Day. This continues to be our North Star, because we believe that only in this way we can continue to be unique in the ultra-luxury space we operate. Our Q3 business performance was characterized by strong product mix and a solid trend in personalizations, which is led to revenues at 1.9 billion euro, EBIT above 560 million euro, growing double-digit, and industrial free cash flow generation of more than 565 million euro. We believe that only through emotion-driven innovation Consistent execution and focused discipline we can make remarkable progress. So now let me share with you our progress over the past quarter across each of our three shows. Let's start with sport cars. Q3 has been an intense and engaging quarter. It started with the launch of the 12 cilindri manuale and it closed with the digital debut of the track model GT3 Modificata. It has also been constellated by numerous dynamic marketing activities which allowed us to engage both repeaters and new clients further supporting the continued momentum of our brand. There is nothing more experiential than a car and all Ferrari experiences are a fundamental part of leaving our brand with all our senses. The experiences on road and on tracks we offer our Ferraristi all over the continent represent the truly differentiating factors, sustaining our uniqueness. They create memorable moments for our clients to engage with Ferrari beyond our cars. They enlarge the Ferrari community, create new bonds, and further strengthen the sense of belonging to the Prancing Horse. I personally attended the Cavalcates in Europe in July and recently the Tributo to the University of Ferrari in India where I also had the pleasure to drive from Jaipur to Agra. And I can guarantee you that driving all together amazing cars in beautiful and stunning landscapes is truly unique and most importantly establishes special and unforgettable connection among all the participants. And during one of these moments The first ever Ferrari Luce has been auctioned for the record amount of $40 million in Pebble Beach, where proceeds will be devolved to an educational project in USA and in Maranello. A few facts about Luce. 1. First few deliveries in Q4. 2. 2027 deliveries are fully allocated. 3. More than 50 local premieres and private views across USA, Europe, Middle East and Asia-Pac and five public events, including the temporary exhibition at our museum, they are all done. Each created valuable opportunities to bring the car closer to our audiences in person, expressing its uniqueness better than any digital experience could. International Media Test Drive are planned for Q127 and right after Test Drive for our clients. In the meantime, the global rollout of our new corporate identity is progressing across our dealership network, reflecting our dealers' continued commitment and investment in the brand and far more elevating the way Ferrari is represented across markets. Some of the recent openings include those in Zug, in Switzerland, Pasadena, in U.S., and Riyadh, in Saudi Arabia, that you can see in the chart. Inside the new dealership, at the center of this dealership, we have a piazza hosting clients. To underline, even further, that we always put clients at the center of what we conceive and what we do. And now let's talk about order books. We continue to experience a healthy demand across all geographies with an order book that enters 28. And more is yet to come. We will launch in the physical world two new models before the end of the year, and we look forward to sharing them with you. Just wait a few more weeks and you will have a better understanding of what we are planning to do. Moving on to racing. Last Sunday, In Mexico, marked historic moment for Formula 1 and Italian motorsport. And here I would like to congratulate Kimi Antonelli on becoming world champion. Competition is what drives us. It raises the bar, fuels our determination, and reminds us every day why Ferrari races. To win. We remain fully focused on Formula 1 and World Endurance Championships. pushing to the very end of the season while already working relentlessly towards next year. Beyond the track, our sailing adventure is progressing further with the announcement of a few weeks ago of the crew and the new operational hub in Livorno that will last diaper sail by the end of this year. Innovative 100 feet flying monohull designed to challenge the oceans entered the final construction phase. a truly technological masterpiece with more than 20 patents registered and last but not least lifestyle the quarter was equally rich in activity from the capsule collection for the monte grand prix to the increasingly tailored experiences offered through casa ferrari at pebble beach in our fun zones and the launch of the sketch body this project brings together art Innovation and Tradition, and it enriches our collectible offer, meeting strong interest from our clients and already sold out for the next year. If you haven't seen it yet, I really invite you to take a look. Across all these initiatives, we have continued to express our brand with the same consistency and sophistication, preserving our identity and DNA. And it is with this same approach that we are now preparing after the London opening in Q1 26 for our next flagship store opening in New York, where we will unveil our new lifestyle collection. To conclude, we continue to execute our plans with innovation, focus and determination, making steady progress on the path outlined in our business plan. Today, we are raising our guidance for the year and Antonio will provide you with more details and colors about it. And on this note, I hand over to Antonio. Thank you.