The Chief Executive Officer of Ferrari, Benedetto Vigna, has restated the automaker’s ambition to bring to a close their championship title drought in Formula 1, following the presentation of the company’s financial goals on Capital Markets Day.
The Italian racing stable, widely recognized as the most accomplished team in F1 history, hasn’t secured the constructors’ title since 2008. The last drivers’ title win was achieved by Kimi Raikkonen back in 2007.
However, they have tasted victory in other significant racing categories. Presently, Ferrari is leading the 2025 World Endurance Championship standings, and they’ve clinched victory in the past three editions of the prestigious Le Mans 24 Hours event.
This matter was brought up during Ferrari’s Capital Markets Day on Thursday, an event where companies typically share their future strategies and economic targets.
Vigna stated, “We previously committed to achieving race wins. We succeeded with the 499P in endurance racing, but in Formula 1, enhancement is needed. We must secure victories. We owe it to our dedicated supporters worldwide.”
The Capital Markets Day served as a platform for Ferrari to communicate its plans concerning both its racing endeavors and its automotive production.
Benedetto Vigna, Ferrari
Photo by: Erik Junius
The vehicle manufacturer declared its projection of earning €7.1 billion for the current fiscal year, anticipating an increase to €9 billion by the year 2030, alongside adjusted earnings of a minimum of €3.6 billion.
The Chairman of Ferrari, John Elkann, conveyed that “Ferrari holds a distinct position, encompassing three elements: heritage, innovation, and racing.”
“The seamless integration of these core elements shapes Ferrari’s identity. Our racing legacy, originating almost a century ago, shapes our essence. I wish to emphasize the importance of this matter to me.”
“My commitment is in my capacity as president, as a major shareholder, and fundamentally as an individual who has deeply admired Ferrari throughout my life.”
“I am dedicated to ensuring that every strategic decision reinforces Ferrari’s uniqueness. I am dedicated to our team, whose expertise and commitment are the foundation of our future achievements.
“I am committed to our valued Ferrari drivers, who place their aspirations in our hands. Furthermore, I am committed to our unwavering supporters, who are eager for our F1 triumph, mirroring our Endurance successes. It was with considerable pride that we celebrated our Le Mans victory following three consecutive wins.”
John Elkann, Chairman and CEO of Ferrari
Photo by: Alastair Staley / LAT Images via Getty Images
Nevertheless, the anticipated financial gains are less than the growth rate predicted by Ferrari in 2022, leading to a substantial drop in its stock value in both European and American trading markets.
Ferrari’s stock value saw a 15% decrease on the New York Stock Exchange, marking its most significant single-day decrease since its listing in 2015, alongside a more than 14% plummet in Milan.
This decline also signified Ferrari’s biggest single-day slump since it first offered shares in Italy at the start of 2016, overshadowing the unveiling of the technology powering its first electric vehicle, scheduled for release the following year.
Vigna addressed the situation at a press conference, stating that “It is evident that stakeholders anticipated more substantial top-line results.”
“However, I believe it is vital to deliver on our promises. We cannot commit to objectives that are beyond our capabilities.”
“Therefore, I believe this understanding has been grasped by the market. I also believe that individuals recognize potential opportunities, but we must exercise caution when pursuing those prospects.”
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– The Autosport.com Team
