Ferrari (RACE.MI) Anchors Borsa Italiana as Multi-Year Order Book Insulates Earnings

Crown Jewel of Piazza Affari

Ferrari (RACE.MI) continues to stand out as the defensive luxury growth anchor of the FTSE MIB, expanding its market-capitalization weight on Borsa Italiana while mass-market European automakers face margin headwinds.

Structural Competitive Moat

• Multi-Year Order Backlog: Sold-out production allocations give Ferrari near-total earnings visibility over the next 24 months.
• Bespoke Personalization Margins: Rising adoption of high-margin tailor-made specifications continues to expand EBITDA margins.

Insulation from Domestic Taxes

With the vast majority of revenues generated across North America, Europe, and Asia-Pacific, Ferrari remains resilient during domestic Italian policy shifts.

Portfolio Role

Ferrari acts as a premier quality-growth compounder within Italian equity portfolios.