Ferrari to launch 15 new models

(ANSA) - Maranello, September 18 - Ferrari will launch 15 new models between 2019 and 2020 and then its eagerly anticipated Purosangue (Thoroughbred) model in 2022, the Italian glamour sportscar maker said Tuesday.
    The Purosangue would be launched at the end of Ferrari's business plan and should not be seen as an SUV, CEO Louis Camilleri said on Capital Markets Day.
    Asked if the Purosangue would be an SUV, Camilleri replied "it's hard for me to link the word SUV to a Ferrari." "I don't want to to offend anyone but I don't like the word SUV. We'll call it Purosangue, it will be without doubt a Ferrari with a never-seen-before performance and we'll launch it at the end of the (business) plan in 2022.
    "The first deliveries of the Purosangue will be carried out at the end of the plan.
    "Therefore the advantages will be seen in the subsequent plans but the costs will be absorbed in this plan".
    Camilleri also said that "by the end of the business plan (in 2022) we estimate that around 60% of our vehicles will be hybrid".
    Ferrari on Tuesday upped its investment and debt targets for 2018.
    Estimated investments rose from 550 to around 600 million euros, net industrial debt fell from 400 to 350 million and EBITDA equal or superior to 1.1 billion was confirmed, as well as more than 9,000 deliveries.
    Ferrari estimates that it will have an EBITDA between 1.8 and two billion euros in 2022 with a 38% margin and turnover above five billion euros, the sports car maker said.
    Ferrari said it estimated a dividend rising to 30% of profits in 2022, compared to 25% today, and envisages a buyback of 1.5 billion euros over next four years.