F1 | John Elkann reaffirms trust in Ferrari and expects near-term progress. John Elkann reaffirmed full confidence in Ferrari in his annual letter to shareholders.

John Elkann renews confidence in Ferrari and expects progress soon

Ferrari chairman John Elkann has once again expressed his trust in the Maranello team, addressing the subject in his annual letter to shareholders. While the Scuderia is only one part of Exor’s broad portfolio, Elkann dedicated an important section of his message to the brand, underlining both its sporting and commercial significance.

Despite the fact that Fred Vasseur’s team has not yet achieved the results that fans and investors hope for, Ferrari’s global reputation continues to grow. John Elkann made it clear that the long-term support of Exor is unwavering. He stated: “Our confidence in Ferrari remains absolute and we are proud to be its reference shareholder, committed for the long term. We are ready to support the company in the next stage of its journey, which will be outlined at the Capital Markets Day in October.”

Looking ahead to Ferrari’s future

John Elkann also shifted attention towards Ferrari’s future projects, with particular focus on innovation. He remarked: “We are looking forward with great anticipation to the launch of the first fully electric model, which will embody Ferrari’s innovative spirit. In February, we announced the decision to reduce the concentration of our portfolio. The exceptional performance of Ferrari’s stock since its market debut had raised its weight to nearly half of our NAV. We carried out a monetization of €3 billion from our participation, while maintaining economic rights equal to 20%, generating for Exor a return equal to eleven times the investment.”

The Exor chairman’s words highlight the importance of Ferrari not only as a racing team but also as a pillar of the group’s business growth. A competitive turnaround from the Formula 1 operation would only enhance the brand’s value even further, bringing additional benefits to the entire holding company. With the season continuing to unfold, many are wondering if that long-awaited step forward could already arrive as early as the Baku Grand Prix.