Ferrari's first all-electric model will arrive in 2025. This was stated by John Elkann, president and CEO of the Maranello company, during the shareholders' meeting that will have to approve the 2020 budget. Elkann confirmed that three new models will be launched this year. .
"The search for the new CEO is making progress," he stressed.
“We continue to implement our electrification strategy extremely rigorously.
And our interpretation and application of these technologies both in motorsport and in road cars - said Elkann - is a great opportunity to transmit the uniqueness and passion of the Prancing Horse to the new generations.
We are very enthusiastic about our first fully electric Ferrari, which we plan to present in 2025 and you can be sure of it: everything that Maranello's engineers and designers are able to conceive for such a landmark in our history will come achieved ".
“With this spirit in 2021 our ambitions in motorsport grow, and not only in Formula 1, where our lineup of young and exceptionally talented drivers has already brought a lot of new positive energy to the team.
In February - added Elkann - we announced our return to Le Mans in 2023, a race in which many important chapters of our history in motor racing have been written.
This is another opportunity to compete at the highest level, testing the latest technological innovations on the track and subsequently transferring our knowledge to the unrivaled pedigree and driving experience of a new generation of Ferrari road cars ”.
Speaking of the 2020 results, Elkann explained that they were achieved thanks to a very strong performance in the fourth quarter.
"This was possible thanks to the solidity of our core business, the improvement in Formula 1 revenues, the cost containment actions implemented during the year and a favorable exchange rate trend compared to our projections. Despite all the difficulties , in 2020 3 new models were presented with great success in digital mode; the Ferrari Portofino M, the SF90 Spider and the Modified 488 GT. This means that today we have the most beautiful, innovative and broadest range of products in our entire history. ".
• Total deliveries of 9,119 units, approximately 10% less than the previous year but in line with the production plan for the second half.
• Group net revenues amounted to € 3.460 billion, down 8.1% compared to the previous year, following lower deliveries and lower Formula 1 and brand revenues.
• EBITDA stood at 1.143 billion euros, down 10% with a margin of 33%.
• EBIT was 716 million euros, down 21.9%, incorporating D&A up ”.
“Thanks to the solid performance in 2020, the Board of Directors proposed a dividend distribution of approximately 160 million euros to shareholders and also approved the restart of our multi-year share buyback program”.
The board set up a research committee that oversaw the process to identify the new CEO, a figure with the right skills to guide us over this decade - added Elkann.
"We are making good progress in creating a short list of very strong candidates who have all the qualities, especially the technological capabilities, to lead the company. The new CEO and senior management team will share with you Ferrari's exciting future in Capital. Markets Day in 2022, an important year for the launch of new cars and the Purosangue in particular, something really special ".
Ferrari shareholders approved the 2020 financial statements with 99.98% of the votes in favor, which show Group net revenues of € 3.460 billion, down 8.1% compared to the previous year, following lower deliveries and lower revenues from Formula 1 and the brand.
The EBITDA stood at 1.143 billion euros, down 10% with a margin of 33%, the EBIT was 716 million euros, down 21.9%.
The shareholders' meeting approved the distribution of a dividend of € 0.867 per share, for a total amount of € 160 million and confirmed the board of directors, chaired by John Elkann.
Alongside him are Piero Ferrari, Delphine Arnault, Francesca Bellettini, Eduardo H. Cue, Sergio Duca, John Galantic, Maria Patrizia Grieco and Adam
Keswick on the board.
