The outputs of Ferrari's business model are the products sold and services provided in each dimension: Sports Cars, Racing, and Lifestyle. Benefits for stakeholders include economic value creation, technological innovation, employment benefits, and brand exclusivity. For customers, the outcomes include a diverse product offering with high performance and design. Investors benefit from revenues, profitability, and shareholder rewards. Employees gain from know-how and talent development. The organization also contributes to local communities and environmental sustainability through reduced emissions and waste management.

Ferrari's value chain includes upstream activities such as sourcing raw materials and components through strategic partnerships with key suppliers. The downstream activities involve manufacturing, sales, and after-sales services. The organization maintains relationships with stakeholders, including clients, investors, regulators, and suppliers. The main business actors include suppliers of raw materials and components, dealer networks, and end-users. Ferrari's position within the value chain emphasizes compliance with regulatory standards and strategic partnerships to minimize environmental impact. The organization operates multiple value chains across its Sports Cars, Racing, and Lifestyle dimensions.

We believe it is important to develop forms of communication and collaboration with both our internal and external stakeholders that allow us to understand their needs, interests, and expectations. Our approach to engaging stakeholders aims for honest, clear, and effective communication and consultation, based on constant dialog. Fully understanding the needs and perspectives of our stakeholders is a fundamental part of the value generation process (business model) and the definition of our strategy which we continuously strive to promote both inside and outside our organization. We believe that this approach is a key element of sustainable and lasting growth, with a view to conciliate interests and expectations. With this in mind, over the years we set an ongoing process of stakeholder engagement carrying out initiatives with different levels of interaction and methods of involvement. Our Stakeholder Engagement Practice, inspired by the values and principles of the Code of Conduct, seeks to give all directors, managers and employees of Ferrari, and anyone else working for it or on its behalf, guidelines on the right methods and forms of interaction with different stakeholders.

Our Stakeholder Engagement Practice, inspired by the values and principles of the Code of Conduct, seeks to give all directors, managers and employees of Ferrari, and anyone else working for it or on its behalf, guidelines on the right methods and forms of interaction with different stakeholders. In line with the Stakeholder Engagement Practice, in 2024 we carried out specific activities to enhance the voice of our stakeholders on sustainability topics.

The categories of stakeholders with whom engagement occurs include: Enthusiasts and Brand Lovers, Ferraristi, Business and Licensing Partners, Government, Regulators and Sports Institutions, Employees and Trade Unions, Sponsors, Community and Universities, Media and Influencers, Suppliers, Financial Community and Shareholders, and Dealers.

Our approach to engaging stakeholders aims for honest, clear, and effective communication and consultation, based on constant dialog. Fully understanding the needs and perspectives of our stakeholders is a fundamental part of the value generation process (business model) and the definition of our strategy which we continuously strive to promote both inside and outside our organization. We believe that this approach is a key element of sustainable and lasting growth, with a view to conciliate interests and expectations. With this in mind, over the years we set an ongoing process of stakeholder engagement carrying out initiatives with different levels of interaction and methods of involvement. Our Stakeholder Engagement Practice, inspired by the values and principles of the Code of Conduct, seeks to give all directors, managers and employees of Ferrari, and anyone else working for it or on its behalf, guidelines on the right methods and forms of interaction with different stakeholders.

We believe it is important to develop forms of communication and collaboration with both our internal and external stakeholders that allow us to understand their needs, interests, and expectations. Our approach to engaging stakeholders aims for honest, clear, and effective communication and consultation, based on constant dialog. Fully understanding the needs and perspectives of our stakeholders is a fundamental part of the value generation process (business model) and the definition of our strategy which we continuously strive to promote both inside and outside our organization. We believe that this approach is a key element of sustainable and lasting growth, with a view to conciliate interests and expectations.

These engagement activities are an important part of the sustainability approach that helps us identify potential updates in our sustainability impact areas, risks and opportunities, as well as support management in achieving the Company’s objectives. For that reason, according to the Stakeholder Engagement Practice, the results are analyzed to come up with suitable action plans to constantly improve company performance, on the basis of expectations of primary interest to its stakeholders. To this end, Ferrari ensures that the results are documented and communicated appropriately inside and outside of the Company, in part to respond to the points of focus raised in interactions with stakeholders.

We have analyzed Ferrari’s strategy, targets and ambitions in the field of sustainability. This was followed by a benchmarking analysis that provided us an overview of potential sustainability matters. Additionally, we analyzed risks relevant to the Group in the ESG-related areas and internal policies in the field of sustainability, considering Ferrari’s three dimensions and their value chains considering all our business relationships and geographies. The external context analysis included the identification of our key stakeholders.

In 2024, no amendments to Ferrari strategy and business model occurred.