Milan: Ferrari, a sports car maker is identical to the roaring gasoline engine, welcoming sliding into the powertrain of electricity and believes he will maintain its superiority in the market for high-performance cars, said the chair of Monday.
The European Union last month proposed a ban on the sale of new gasoline and diesel cars from 2035 as part of its steps to combat global warming, submitting challenges to car makers who have made the main sales machine.
But Ferrari Chairman and acting CEO John Elanann told analysts on Monday, the company known for the ‘Prancing Horse’ logo saw technology change as an opportunity.
“We see the rules as a welcome,” said Elanann, because Ferrari was trapped in the main target of 2021 after reporting the second quarter core profit just above expectations.
“Opportunities set by electrification, electronics, and other available technologies will allow us to make products that are more different and unique,” he said.
Elkann, Scion of the Family of Agnelli Italy who controlled Ferrari through its investment company, was speaking weeks before the new CEO – Veteran Veteran Benedetto Vigna – took a helmet on September 1.
One of the tasks of Vigna is to establish new partnerships, along with the lines of Ferrari bonds that exist with Yasa Britain, now part of Daimler, to help with the shift to the electricity era, said Elann.
“We believe that in the industry and more importantly, outside our industry, we will get many benefits from shared partnerships and programs,” he said.
Ferrari has promised to launch its first all-electric car in 2025.
On Monday, the company reported tripled in a customized core profit (EBITDA) for the second quarter to 386 million euros ($ 458 million) because the delivery was recovered from trading pandemic in The same period last year.
It’s right in front of the estimated average analyst of 373 million euros.
Ferrari enhances the guidance of the industry’s free cash flow for this year to around 450 million euros from around 350 million, but the left estimate for net income and customized core profit (EBITDA) has not changed.
The shares registered in Milan have fallen as much as 3.45% after the results.
They closed 1.9%.
Citi analysts say income guidelines have not changed, although the second quarter results strong, raises fears that margins are expected to be under pressure in the second half.