Ferrari Group Lifts Q3 Revenue as Luxury Logistics Demand Accelerates

Strong organic growth, improving Western markets and robust shipment values position the firm as a standout player in high-end logistics — with important implications for investors

Ferrari Group, the luxury logistics specialist known for transporting high-value goods such as jewellery, watches and rare collectibles, reported a 3.5% rise in third-quarter revenue to €83.8 million, matching market expectations and signalling renewed momentum across its core markets.

The company, which serves more than 100 global luxury clients, delivered a sharper acceleration in underlying performance, even as parts of the luxury goods sector continue to recover unevenly.

Organic Growth Strengthens Despite Asia Weakness

Ferrari Group achieved 6.1% organic revenue growth in Q3, up from 4% in the first half of 2025 — a clear sign that underlying demand is stabilising and improving.

Jefferies attributed the uplift to:

• Higher shipment volumes
• Rising shipment values
• Solid performance in key luxury hubs

This improvement came despite a 2.6% negative FX impact, which partially offset gains.

The quarter also unfolded against a backdrop of mixed luxury market performance, with early signs of recovery emerging across Europe and the United States.

Regional Performance: Strength in the West, Pressure in Asia

Ferrari Group’s results highlighted contrasting regional trends:

• Europe: Revenue rose 5%, driven by Germany and France.
• Americas: Growth of 9%, underpinned by strong U.S. demand and supportive market conditions.
• Rest of the World: Revenue up 11%, helped by momentum in the United Arab Emirates.
• Asia: Revenue fell 12%, reflecting ongoing weakness in China’s luxury sector.

Despite the Asian downturn, Ferrari Group’s diversified geographic footprint helped secure overall growth.

Full-Year Guidance Reaffirmed

The company reaffirmed its 2025 full-year revenue guidance, expected to broadly match the 4.7% growth delivered in 2024.

Key expectations for the year include:

• Growth of more than 7% in Q4 — the firm’s most important seasonal period
• Tailwinds from major luxury events and new site openings
• Improving conditions in China, suggesting potential recovery into year-end
• An unchanged EBITDA margin forecast of 26.5%, highlighting stable profitability

Jefferies reiterated Ferrari Group’s reputation as a “leading one-stop shop” for luxury logistics, emphasising its bespoke, high-value service model.

Medium-Term Strategy: Scaling Market Share and Expanding Globally

Ferrari Group aims to deliver:

• 6%–8% annual revenue growth
• 27%–29% EBITDA margins

Growth will be driven by:

• Increasing wallet share with existing luxury clients
• Expanding its customer base
• Geographic expansion into fast-growing luxury corridors
• Leveraging its pricing structure, where fees are based not only on shipment weight but also on value — a key profitability advantage

This approach ensures revenues rise alongside global luxury trends, offering attractive leverage to premium sector growth.

What This Means for Investors

Ferrari Group’s Q3 performance and long-term strategy create several attractive considerations for investors:

A resilient luxury-linked business

The company’s results confirm that demand for high-value logistics is less cyclical than demand for luxury goods themselves. Even during uneven luxury retail performance, Ferrari Group continues to grow.

High-margin, value-linked pricing model

Because fees are tied to the value of goods shipped, Ferrari Group enjoys a natural margin uplift as the luxury industry leans further into ultra-high-value items.

Clear path to sustained growth

With organic momentum improving, Q4 expected to exceed 7% growth, and stable EBITDA margins, the business offers a compelling combination of growth and defensive characteristics.

Exposure to global luxury recovery

As the luxury market strengthens in the West and begins to stabilise in China, Ferrari Group is well positioned to capture rising shipment volumes.

Conclusion: A Quiet but Strong Luxury Play

Ferrari Group’s latest results underscore a company hitting its stride in a high-value niche with strong barriers to entry. For investors seeking indirect exposure to the global luxury sector — but with greater stability and recurring business — Ferrari Group’s accelerating organic growth and robust margins present an increasingly compelling proposition.

Sources: (Investing.com, MotleyFool.com)