(Il testo seguente è tratto integralmente dalla nota stampa inviata all’Agenzia Opinione) –
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I punti salienti del discorso di John Elkann, Presidente di Ferrari, in italiano ed in inglese, durante l’apertura dell’Agm Ferrari.
Opportunità di accelerare la capacità della Ferrari di essere leader nelle tecnologie di nuova generazione
Il settore automobilistico è a un bivio, le sfide sono molte, ma lo sono anche le opportunità. Abbiamo l’opportunità di accelerare la capacità della Ferrari di essere leader nelle tecnologie di nuova generazione nella fascia alta dell’industria del lusso e non vediamo l’ora di farlo.
L’agilità è fondamentale in uno scenario in evoluzione
In questo scenario in evoluzione, credo che la singola qualità che aiuterà le aziende ad avere successo sia l’agilità: la capacità di “leggere” gli eventi e di rispondere ad essi con l’azione… di identificare le priorità e allo stesso tempo di essere aperti al cambiamento… di essere flessibili e di adattarsi rapidamente. La reattività della Ferrari e la forza del suo modello di business stanno facendo la differenza.
Nuovi record in termini di consegne, ricavi e redditività
I risultati dell’anno scorso hanno raggiunto e superato le nostre previsioni con una crescita a doppia cifra in tutti i parametri: abbiamo stabilito nuovi record in termini di consegne, ricavi e redditività.
Titolo Piloti e Titolo Costruttori nel World Endurance Championship
Nel 2022 abbiamo concluso la stagione del World Endurance Championship vincendo entrambi i titoli Piloti e Costruttori e abbiamo presentato la 296 GT3, la V6 che sostituirà l’uscente 488 GT3, una vettura che ha ottenuto oltre 500 vittorie e che entra nella storia come la Ferrari da corsa di maggior successo fino ad oggi. A ottobre abbiamo presentato la 499 P, la nostra Le Mans Hypercar. Lo scorso marzo, alla 1000 miglia di Sebring, ha segnato il ritorno della Ferrari – dopo 50 anni – nella classe regina del FIA World Endurance Championship. Tutti noi attendiamo con impazienza il nostro ritorno a Le Mans il prossimo giugno.
Un team concentrato alla Scuderia Ferrari
In Formula 1, l’ultimo Campionato del Mondo ha visto un miglioramento della nostra competitività. Tuttavia, il nostro obiettivo è – e lo sarà sempre – quello di vincere il Campionato e Fred e tutta la squadra della Scuderia sono concentrati al massimo sul raggiungimento di questo obiettivo.
Le nostre sports car: numero record di ordini
I lanci della 296 GTS e della Purosangue hanno arricchito il portafoglio prodotti più vario, completo e apprezzato a livello internazionale della nostra storia, garantendo un numero record di ordini fino al 2024.
L’elettrificazione, una grande opportunità. La nostra prima full electric nel 2025.
L’ulteriore sviluppo dell’elettrificazione delle nostre vetture sportive rappresenta per noi una grande opportunità per il futuro. Abbiamo iniziato il nostro percorso di elettrificazione in Formula 1 quattordici anni fa nel 2009, e ciò che abbiamo imparato in pista è stato adottato per la prima volta nelle nostre auto sportive nel 2013 con la LaFerrari. Abbiamo poi sviluppato ulteriormente la nostra tecnologia ibrida e la nostra offerta, ampliandola, e negli ultimi 4 anni abbiamo lanciato 4 modelli ibridi, tutti accolti da un’incredibile domanda di mercato. Partendo da questa tradizione racing e da un’ampia esperienza sul fronte tecnico, stiamo progettando la nostra prima Ferrari completamente elettrica, una pietra miliare della nostra storia che sarà presentata nel 2025.
Carbon neutrality entro la fine del decennio, un forte impegno
Il nostro obiettivo di carbon neutrality entro la fine del decennio sta coinvolgendo non solo i nostri colleghi, ma anche i nostri partner e fornitori per quello che è più di un obiettivo, un forte impegno.
L’espressione del nostro marchio nel lifestyle
All’interno del più ampio panorama del lusso, il 2022 è stato importante per la maggiore espressione del nostro marchio nel lifestyle, i cui punti salienti sono stati due collezioni lanciate alla Settimana della Moda di Milano e nuovi prodotti molto promettenti quali ad esempio un orologio, la jumpsuit e la borsa Ferrari.
L’attenzione alla formazione dei nostri dipendenti e alle attività educative
Sono particolarmente orgoglioso dei livelli record di formazione che abbiamo fornito ai nostri dipendenti: oltre 79.000 ore di formazione in totale che coprono molte aree chiave, tra cui la digitalizzazione, la globalizzazione, la sostenibilità e il miglioramento continuo.
L’educazione è l’obiettivo principale di una serie di attività, principalmente attraverso collaborazioni con università e scuole locali. Ad esempio, nel 2022 abbiamo inaugurato l’e.DO Learning Center, un innovativo progetto educativo nato dalla sinergia tra Ferrari e il territorio modenese. Abbiamo continuato inoltre a raccogliere proventi attraverso delle aste tenutesi in occasione del nostro evento più esclusivo – le Cavalcade – per questo importante scopo.
Un numero senza precedenti per i clienti
Nel 2022 abbiamo organizzato un numero senza precedenti di eventi per i clienti, tra I quali tre Cavalcade e le Finali Mondiali a Imola, che hanno riunito più di 40.000 tifosi. Eventi per condividere la passione per la guida su strada e su pista.
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The chance to accelerate Ferrari’s ability to lead on next-generation technologies
The automotive sector is at a crossroads, the challenges are many, but so are the opportunities. We have the chance to accelerate Ferrari’s ability to lead on the delivery of next-generation technologies at the top end of the luxury industry and we relish it.
Agility is key in an evolving landscape
In this evolving landscape, I believe that the single quality which will help Companies succeed is agility: the ability to “read” events and respond to them with action… to identify priorities and at the same time be open to change… to be flexible and adjust quickly. The responsiveness of Ferrari and the strength of its business model are making the difference.
New records in terms of shipments, revenues and profitability
Results last year met and exceeded our guidance and grew double-digit across all metrics: we set new records in terms of shipments, revenues and profitability.
Pilots’ and Constructors’ Titles at World Endurance Championship season
In 2022 we closed the World Endurance Championship season winning both Pilots’ and Constructors’ Titles and we unveiled the 296 GT3, the V6 that will replace the outgoing 488 GT3, a car that has delivered over 500 wins and takes its place in history as the most successful racing Ferrari so far. In October we unveiled the 499P, our Le Mans Hypercar. This March at the 1000 miles of Sebring it led Ferrari’s return – after 50 years – to the top class of the FIA World Endurance Championship and we all eagerly await our return to Le Mans in June.
A fully focussed team at Scuderia Ferrari
In Formula 1, the last World Championship saw an improvement in our competitiveness. Nevertheless, our target is – as it always will be – to win the Championship and Fred and all the team at the Scuderia are fully focussed on achieving this objective.
Sports Cars: record number of orders
The launches of 296 GTS and the Purosangue added to the most diverse, complete and internationally acclaimed product portfolio in our history, delivering a record number of orders well into 2024.
Electrification, a great opportunity for us. Our first full electric in 2025.
The further development of the electrification of our sports cars is a great opportunity for us going forward. We started our electrification journey in Formula 1 fourteen years ago, in 2009, and what we learned on track was first adopted in our sports cars in 2013 by the LaFerrari. From there, we further developed our hybrid technology and offering, scaling it, and in the last 4 years we launched 4 hybrid models, all of which have been met with amazing market traction. From this racing heritage and broad technical reservoir, we are building our first full electric Ferrari – a milestone of our history which will be unveiled in 2025.
Carbon neutrality by the end of the decade, a strong commitment
Our target of carbon neutrality by the end of the decade is involving not only our colleagues but also our partners and suppliers for what is more than objective but a strong commitment.
The expression of our brand into lifestyle increased
Within the wider luxury landscape, 2022 was important for the increased expression of our brand into lifestyle, the highlights of which were two collections launched at Milan Fashion Week and very encouraging new products like our watch, jumpsuit and the Ferrari handbag.
Our focus on training for our employees and on educational activites
I am particularly proud of the record levels of training that we have provided to our employees: a total of over 79,000 hours of training covering many key areas, including digitalization, globalization, sustainability and continuous improvement.
Education is the primary focus of a series of activities, mainly through collaborations with local universities and schools. For example, in 2022 we have inaugurated “e.DO Learning Center”, an innovative educational project born of the synergy between Ferrari and the local area of Modena and we have continued to raise more proceeds from the auctions held at our most exclusive event – the Cavalcade – for this important purpose.
Unrivalled client events
In 2022 we had an unprecedented number of unrivalled client events. Among these, three Cavalcades and the Finali Mondiali in Imola that also brought more than 40 thousand fans together – where they shared their passion for driving on road and on track.
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Di seguito il transcript del discorso di Benedetto Vigna, CEO di Ferrari, in inglese, in apertura dell’AGM Ferrari.
During our 75th anniversary year, among the many different moments and milestones that signaled our Company’s evolution, I would like to highlight the following three:
- Firstly, we unveiled two exciting models: the 296 GTS in April and the Ferrari Purosangue in September. These models strengthen an already astonishing product range that both meets and exceeds our customers’ demand for design, performance and driving thrills.
- Secondly, we presented our strategic plan for 2022-2026, setting transparent, concrete, and measurable goals.
- Thirdly, we outlined our journey towards carbon neutrality within 2030, through a scientific and holistic approach. We are clear on our overall carbon footprint and we have a defined roadmap moving forward.
From a financial perspective, we ended 2022 with a remarkable set of results, setting a new record across all metrics with:
- 5.1 Billion Euro Revenues.
- Strong Net profit at 939 Million Euro
- More than 750 Million Euro of Industrial free cash flow generation.
Thanks to these robust performances in 2022, the Board of Directors has recommended to shareholders a dividend distribution of 1.81 Euro per common share, implying an increase of 33% compared to the prior year and corresponding to a total distribution of approximately 329 million Euro. This, alongside our ongoing multi-year share repurchase program.
In June, with the Ferrari Leadership Team, we presented our strategic plan during the Capital Markets Day, when we laid out our development trajectory to secure our long-term success as the world’s most distinctive and innovative luxury brand.
Our key objectives include launching 15 new models between 2023 and 2026, our electrification plan and achieving carbon neutrality by 2030.
We are building on our strategy of “Different Ferrari for different Ferraristi, different Ferrari for different moments” in order to satisfy a diverse client profile – and we are tailoring our range of products to be unique.
From an industrial standpoint, this will be achieved by pushing innovation through our selected partnerships whilst we will continue to make our core components in-house, just as Ferrari has always done, such as the electric engine, the battery pack and the inverters.
We also detailed our commitment to reaching carbon neutrality by 2030 and we are also proud to have committed to set Science Based Targets. The focus is not only on the impact of driving our Sports cars, but also on our entire supply chain and production facilities.
Already in 2022, we completed several projects: from the new Fuel Cell plant and photovoltaic system at Maranello, to the many innovations identified by our colleagues, such as the adoption of new filters in our foundry, saving more than 250 tons of aluminum per year, and the heat dispersion recovery in our engine testing process. All these initiatives implemented in 2022 led to a reduction of approx. 5% of energy consumption per car.
A remarkable result and I am proud to underline that No capex was required, only brain power!
Additionally, we expected the discussion on e-fuels at EU level in a couple of years, it has happened now and we welcome this decision. As we stated at the Capital Markets Day last year “we believe ICE still have a lot to give, and thanks to their higher energy efficiency and e-fuels, together with partners, we will develop solutions that will contribute meaningfully to decreased CO2 emissions”.
2022 has been a very strong year showing high double-digit growth compared to 2021 and representing a solid foundation of our new business plan.
These record earnings exceeded our latest guidance thanks to a better business performance, personalizations and a tailwind from currencies also in the last part of the year.
I would like to highlight the three most remarkable achievements:
- EBITDA of 1 Billion and 773 million Euro and EBIT of 1 Billion and 227 Million Euro with margins aligned to guidance, reflecting product mix and the evolution of our D&A.
- Net Profit of 939 Million Euro, resulting in a Diluted EPS of 5 Euro and 9 cents
- And an industrial free cash flow generation of 758 Million Euro which reflects the strong profitability and a positive contribution from working capital and other, mainly related to the collection of the Daytona SP3 and 812 Competizione A advances. This was partially offset by 806 Million Euro of capital expenditures.
We leave behind a year characterized by global tensions, geopolitical conflicts, supply chain issues and cost inflation. With our people, clients and partners, we have been able to weather through these times thanks to the collaboration, will to progress, continuous learning, focus and confidence that sets us apart.
And now we are ready for 2023. It will represent another significant step of our journey during which we will continue to execute our strategy with the highest determination. FOUR are our priorities:
- We will compete at the top in the different racing championships
- We will continue to enhance our client experiences, both on track and on road, enriching them with 4 new model launches. With the first being the Ferrari Roma spider that received enthusiastic praises from all over the world
- We will broaden the Lifestyle client base with a coherent and integrated offering of personal goods and unique experiences
- And we will further accelerate the innovation pace, with a strong focus on the electrification and HMI, as proved by the four times higher number of patents that we filed in 2022 compared to 2021.
We look ahead at 2023 with enthusiasm, energy, agility and confident humility required in these challenging times.
Before to conclude, dear Shareholders, I would like to thank you for your constant support and direct dialogue.
