Ferrari NV (RACE) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 2, 2023 8:00 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 Full Year Results Conference Call. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Nicoletta Russo, Head of IR. Please go ahead.

Nicoletta Russo

Thank you, Sharon, and welcome to everyone who is joining us. Today, we plan to cover the group's full year 2022 operating results and 2023 guidance, 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 the Group CFO, Mr. Antonio 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 2 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, and thank you, everyone, for joining us today. In this call, we will discuss in detail 2 things: the result of the full year '22 and priorities and guidance of year '23. It has been a year of celebration, progress and innovation for Ferrari. And for this, I would like to thank all the women and men of Ferrari for their outstanding work, all our partners who have helped us considerably during the past challenging years during which we had the opportunity to strengthen our relations with many of our suppliers, and last but not least, all our clients for their continuous trust in our brand.

During our 75th anniversary years, among the many different moments, a milestone that signaled our company's evolution, I would like to highlight the following 3. Firstly, we unveiled 2 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 customer demand for design, performance and driving trials.

Secondly, we presented our strategic plan. It was June for '22, '26, setting transparent, concrete and measurable goal. Thirdly, we outlined our journey towards the carbon neutrality within 2030 through a scientific and holistic approach. We are clear on our overall carbon footprint and we have a defined road map moving forward.