Ferrari N.V. (RACE) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 2, 2022 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and thank you for standing by. Welcome to the Ferrari 2022 Q2 Results Call and Webcast. At this time, all participants are in listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please remember that today's conference is being recorded.

I would now like to hand over to your speaker Nicoletta Russo. Please, go ahead.

Nicoletta Russo

Thank you and welcome to everyone who's joining us. Today we plan to cover the group's Q2 2022 operating results. And the duration of the call is expected to be around 60 minutes. Today's call will be hosted by the Group CEO, Mr. Benedetto Vigna; and Group CFO, Mr. Antonio Picca Piccon. All relevant materials are available in the Investors section of the Ferrari corporate website. And at the end of the presentation we will be available to answer your questions.

Before we begin, let me remind you that any forward-looking statements we might make during today's call are subject to the risks and uncertainties mentioned in the safe harbor statement included on page two of today's presentation and the call will be governed by this language.

With that said, I'd like to turn the call over to Benedetto.

Benedetto Vigna

Thank you, Nicoletta. Thank you, everyone, for joining us today. It was a pleasure to meet many of you in person last June during our Capital Market Day here in Maranello. But before talking about Q2 record results, let's recap the main points of our strategic plan for 2022-2026. We talked about our electrification journey, the product strategy, the industrial strategy, financial targets and our path to carbon neutrality by 2030. And I will address our commitment to preserve and protect our planet later in this speech.

Now let's start with our electrification journey. We are very well positioned to tackle the technological transition. Electrification represents for us a great opportunity to address customer needs and to continue to realize unique Ferraris.

We are continuously advancing in our electrification journey. We started in 2009, 13 year ago, with our experience in Formula 1, then we transferred to our first hybrid model LaFerrari, a supercar. And more recently, with the launch of full range hybrid models currently in our product portfolio, we extended successfully this technology to higher volume car.