Ferrari Future Growth
Future criteria checks 2/6
Ferrari is forecast to grow earnings and revenue by 6.9% and 5.9% per annum respectively. EPS is expected to grow by 7.8% per annum. Return on equity is forecast to be 38.6% in 3 years.
Key information
6.9%
Earnings growth rate
7.77%
EPS growth rate
| Auto earnings growth | 37.1% |
| Revenue growth rate | 5.9% |
| Future return on equity | 38.61% |
| Analyst coverage | Good |
| Last updated | 07 May 2026 |
Recent future growth updates
Recent updates
Seeking Alpha • May 06
Ferrari: Strong Start Reinforces Investment Case Despite Market Weakness
Summary Q1 revenues reached €1.85bn (+3%, +6% FX-neutral) with EBITDA at €722m (39.1% margin) and EBIT at €548m, supported by mix, pricing, and personalization despite lower volumes. The order book extends into 2027, the net cash position improved to €388 million, and share buybacks continue (up to €250 million for the next tranche), underpinning EPS growth. While tariffs and FX remain headwinds, RACE's pricing power and brand strength mitigate demand risk. With an unchanged outlook, despite a solid quarter, we remain buyers. Read the full article on Seeking Alpha
Narrative Update • May 02
RACE: Luxury Premium And 2026 Guidance Will Support Higher Cash Distributions
Ferrari's analyst price target has been adjusted slightly higher to approximately $429 from about $428, as analysts update their models following recent earnings, refreshed guidance, and revised views on the stock's luxury premium and long term P/E assumptions. Analyst Commentary Recent research on Ferrari shows a mix of optimism and caution as analysts refresh models after the latest results and guidance.Narrative Update • Apr 18
RACE: Luxury Premium And 2026 Guidance Will Support Higher Cash Returns
Analysts have made a modest upward adjustment to Ferrari's fair value estimate to about $428 per share. This reflects recent price target changes across the Street and updated assumptions around revenue growth, margins and future P/E expectations.Narrative Update • Apr 04
RACE: Luxury Premium And 2026 Guidance Will Support Future Cash Returns
Ferrari's analyst price target has edged higher to about $426, with analysts pointing to updated models around FY25 results, refined discount rate assumptions, and expectations for a premium P/E multiple despite mixed target revisions across major banks. Analyst Commentary Recent research on Ferrari shows a split view, with some analysts leaning into the luxury premium and others trimming expectations and targets.Narrative Update • Mar 21
RACE: Future Cash Returns Will Be Underpinned By 2026 Earnings Guidance
Analysts have nudged the fair value estimate for Ferrari shares slightly lower to about $424 from roughly $432, while still pointing to updated models that reflect FY25 results and guidance, as well as a broadly supportive tone in recent price target revisions across several firms. Analyst Commentary Recent Street research on Ferrari offers a mix of constructive and cautious views, with several firms updating models around FY25 results and FY26 initial guidance.Narrative Update • Mar 06
RACE: Future Cash Returns And Guidance Support Premium Positioning Narrative
Our updated narrative on Ferrari reflects a slightly lower fair value estimate of $431.54, down about $3.99, even as analysts on the Street have generally nudged their price targets higher following the company's fiscal 2025 results and initial FY26 guidance. Analyst Commentary Street research on Ferrari has been mixed recently, with several firms lifting price targets after fiscal 2025 results and initial FY26 guidance, while others have taken a more cautious stance and trimmed targets or ratings.Narrative Update • Feb 20
RACE: Premium Positioning And Special Series Mix Will Support Future Upside
Analysts have inched up their fair value estimate for Ferrari to about $436 from roughly $432, pointing to refreshed models that reflect updated company guidance, a slightly lower discount rate, and modest tweaks to revenue growth, margins, and future P/E assumptions after recent price target moves across the Street. Analyst Commentary Recent Street research on Ferrari shows a mix of optimism around its premium positioning and caution around expectations, communication, and valuation.Narrative Update • Feb 05
RACE: Special Series Mix And Buybacks Will Support Premium Profile Despite Cautious Revisions
The analyst price target for Ferrari has been revised modestly lower, with fair value moving from about €441.39 to €431.78 as analysts factor in lower external price targets, a slightly higher discount rate, and updated assumptions on growth, margins, and future P/E multiples. Analyst Commentary Recent research on Ferrari reflects a mix of optimism on the business model and caution on communication, cost trends, and valuation assumptions.Narrative Update • Jan 20
RACE: Special Series Mix And Buybacks Will Sustain Premium Equity Profile
Analysts have nudged their fair value estimate for Ferrari slightly lower to €441.39 from €447.30, reflecting modestly softer revenue growth and margin assumptions. The change also points to recent price target cuts and rating downgrades that are focused on communication issues rather than core business fundamentals.Narrative Update • Jan 06
RACE: Special Series Pricing And Buybacks Will Support Premium Multiple
Analysts have nudged their fair value estimate for Ferrari slightly lower to about $447 from about $453, reflecting modest adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions as they factor in recent price target trims and an ongoing focus on pricing power in the high-end segment. Analyst Commentary Street research on Ferrari has centered on how its luxury positioning, pricing power, and cost base feed into valuation, with a mix of optimism on execution and caution on cost inflation and relative pricing versus peers.Narrative Update • Dec 14
RACE: Special Series Mix Will Support Premium Multiple And Long Term Upside
Analysts have nudged their fair value estimate for Ferrari slightly lower to about $453 from roughly $456, reflecting a modestly higher discount rate while still expecting solid revenue growth, resilient margins and continued support from premium positioning, new product launches and price mix improvements. Analyst Commentary Bullish analysts continue to emphasize Ferrari's unique positioning in the premium and ultra luxury auto segment, arguing that its pricing power, limited volumes and strong brand heritage justify a valuation closer to high end luxury peers rather than traditional automakers.Narrative Update • Nov 28
RACE: New Buybacks And Dividend Plans Will Support Premium Sector Outperformance
Ferrari’s analyst price target has been adjusted lower by approximately $10, as analysts cite cautiousness over higher fixed costs and sector headwinds. Analysts maintain continued confidence in the company’s premium positioning and robust business model.Narrative Update • Nov 14
RACE: Share Buyback Program And Dividend Hike Will Drive Long-Term Upside
Ferrari's analyst price target has been trimmed slightly, falling by approximately $2.55. Analysts cite higher fixed cost expectations and a more cautious stance on near-term earnings, despite ongoing confidence in the company’s premium brand positioning and long-term growth opportunities.Narrative Update • Oct 31
RACE: Upcoming Capital Markets Day Will Set Ambitious Earnings And Buyback Goals
Ferrari's analyst fair value estimate has been revised downward to $468.82 from $477.93, as analysts point to slightly moderated revenue growth and profit margin assumptions in recent research updates. Analyst Commentary Recent Street research on Ferrari has highlighted a mix of enthusiasm for the company's long-term prospects and some caution regarding near-term execution and valuation.Narrative Update • Oct 17
New Models Launching In 2025 Will Advance Electrification And Sustainability Goals
Ferrari’s analyst fair value estimate was revised lower to $477.93 from $530.84, as analysts cited more cautious growth forecasts and updated peer comparisons for the reduced price targets. Analyst Commentary Recent analyst commentary reflects a dynamic outlook for Ferrari, with both bullish and bearish perspectives driving adjustments to price targets and recommendations.Narrative Update • Oct 03
New Models Launching In 2025 Will Advance Electrification And Sustainability Goals
Ferrari’s analyst price target has been raised from approximately $525.00 to $530.84. This increase reflects analysts’ expectations for improved margins and robust capital returns, even as revenue growth estimates moderate slightly.Narrative Update • Sep 17
New Models Launching In 2025 Will Advance Electrification And Sustainability Goals
Ferrari’s consensus price target has been raised to $525 as analysts cite strengthened brand, sustained margin upside, and forthcoming catalysts such as buybacks and new model launches, outweighing valuation concerns. Analyst Commentary Bullish analysts highlight Ferrari’s strong brand heritage, robust pricing power, and durable returns on capital as supporting long-term investment appeal.Narrative Update • Aug 27
New Models Launching In 2025 Will Advance Electrification And Sustainability Goals
Analysts have increased Ferrari’s price target to $513.86, citing resilience in demand, confidence in margin-focused strategy, and viewing the recent selloff as overdone, despite ongoing valuation concerns. Analyst Commentary Bearish analysts acknowledge strong underlying fundamentals but maintain caution due to valuation concerns.Narrative Update • Aug 06
New Models Launching In 2025 Will Advance Electrification And Sustainability Goals
Ferrari's consensus price target has been revised downward, primarily reflecting a reduction in its future P/E multiple despite a modest improvement in expected revenue growth, resulting in fair value falling from $532.10 to $503.21. What's in the News Ferrari confirmed 2025 earnings guidance with net revenues expected to exceed EUR 7.0 billion.Seeking Alpha • Mar 27
The Impact Of Tariffs On European Automakers: Ferrari Is The Only One I Am Buying
Summary President Trump’s 25% tariffs on European car imports will significantly impact German automakers, with Volkswagen, Mercedes-Benz, BMW, and Porsche facing price hikes and potential sales declines. In this article, I will outline the impact on the four largest German automakers. As we will discuss Porsche, we will see there is another opportunity in the current market turmoil. Read the full article on Seeking AlphaSeeking Alpha • Mar 19
Ferrari: Driving Luxury And Innovation
Summary Ferrari's scarcity-driven model and luxury brand positioning enable high margins and resilience, similar to high-end fashion houses like Hermes. Advanced technology integration and strategic electrification plans enhance Ferrari's performance and brand status, differentiating it from mass-market automakers. Ferrari's deep ties with Formula 1 amplify global brand awareness, driving sales and mutually benefiting from F1's rising popularity. Diversification into lifestyle and luxury experiences, along with strong financials, positions Ferrari for sustainable growth despite competition and supply chain risks. Read the full article on Seeking AlphaSeeking Alpha • Feb 17
Ferrari: The 2025 Investment Thesis
Summary Ferrari ended 2024 with strong results, beating expectations and providing a promising outlook for 2025. The company’s business model thrives on brand desirability and scarcity, with consistent execution and favourable demand/supply ratios. For 2025, Ferrari is expected to achieve higher growth driven by new models and non-car segments, including key catalysts like the EV launch and Lewis Hamilton's first year. At 54 times forward earnings, Ferrari is fairly valued, but a long-term trajectory of mid-teens EPS growth supports a 'Buy' rating. Read the full article on Seeking AlphaSeeking Alpha • Feb 05
Ferrari's Magic: Why It Keeps Beating Estimates, And Will Continue Doing So
Summary Ferrari has consistently exceeded earnings expectations, driven by solid fundamentals and a unique business model that emphasizes exclusivity and personalization. Ferrari topped estimates once again and disclosed ambitious goals for FY2025. In the meantime, investors are waiting for the October unveiling of the first all-electric model. Read the full article on Seeking AlphaSeeking Alpha • Jan 09
Ferrari: The Prancing Horse Is Still Too Expensive
Summary Ferrari's brand strength and exclusivity provide a competitive advantage, leading to stable cash flows and high profit margins, unlike other automotive companies. Despite a recent 13% drop in share price, Ferrari's current valuation with a P/E Ratio of 50x and 0.60% dividend yield is not attractive. The upcoming all-electric Ferrari model, while a significant shift, is expected to maintain the brand's iconic status and appeal to wealthy customers. A more reasonable entry point to consider investing in Ferrari would be at a P/E Ratio of 40x, implying a share price around $370. Read the full article on Seeking AlphaSeeking Alpha • Dec 15
Ferrari: Unleashing 12Cilindri Coupe And Spider; Initiate With 'Buy'
Summary Ferrari is expanding into the broader luxury performance automotive market, aiming for a larger addressable market and targeting a one-year price of $497 per share. The company has demonstrated strong growth with a 7.9% shipment increase over 8 years and recent 6.5% revenue growth driven by new models. Ferrari plans to launch 15 new models by 2026, anticipating 12% revenue growth from FY25 onwards, supported by high personalization and positive country mix. Key risks include product concentration, dependency on Formula 1 sponsorships, and potential US tariffs on European manufacturers impacting costs. Read the full article on Seeking AlphaSeeking Alpha • Dec 05
Ferrari: Debunking Misconceptions About A Disappointing Third Quarter
Summary Ferrari's shares declined due to misconceptions about China, unit shipments, and non-recurring operations, presenting a buying opportunity. The decline in shipments is due to an ERP transition, and the China reduction is intentional. Ferrari's unique market position, strong brand, and prudent management justify its high valuation and promise market-beating returns. I expect positive news starting in Q4, potentially leading to guidance above consensus and continued robust growth. Read the full article on Seeking AlphaSeeking Alpha • Nov 12
Capitalize On Rising Global Inequality With Ferrari Stock Ownership
Summary Ferrari's exclusivity and strong brand, bolstered by its Formula 1 success, drive high demand and pricing power, ensuring robust revenue and operating leverage. Despite a recent 10% stock dip, Ferrari's Q3 2024 results showed impressive EBITDA and FCF growth, where conservative management guidance is often exceeded. Ferrari's unique low-volume, high-margin strategy, extensive customizations, and strong client relationships ensure recurring revenue and profitability without needing high production increases. With a median valuation of $525/share, Ferrari's stock is a buy, supported by strong management alignment and resilience to economic downturns. Read the full article on Seeking AlphaSeeking Alpha • Oct 19
The Market Is All Revved Up About Ferrari Amid Its Sold-Out F80
Summary Ferrari’s stock has gained 17.3% since May but remains overvalued. Now is not an opportune time to initiate a position. However, long-term investors may choose to prudently hold the stock. The F80, priced at $3.9 million and completely sold out, is expected to generate $3.12 billion in total revenue, with additional revenue opportunities anticipated from future variants. Given Ferrari’s elevated valuation and my growth estimates, which are supported by consensus forecasts, I foresee downside volatility over the next 12 months. By this time next year, I project Ferrari's stock price will reach approximately $483.50. Read the full article on Seeking AlphaSeeking Alpha • Sep 24
From Track To Ticker: Evaluating Ferrari And Lamborghini
Summary Ferrari and Lamborghini are luxury supercar brands targeting high-net-worth individuals. Since the Volkswagen takeover, Lamborghini has climbed its way up to being considered Ferrari's closest peer. Lamborghini doesn't yet publicly trade on the market, but hints suggesting an upcoming IPO are piling up. Considering the financials of the two Italian companies, we can compare them and understand Ferrari's valuation and make a guess on what Lamborghini's IPO may look like. Read the full article on Seeking AlphaSeeking Alpha • Sep 04
Ferrari: Low Cash Conversion Makes It Look Very Expensive
Summary Ferrari's strong brand heritage and Veblen effect allow it to increase prices while maintaining or increasing demand, ensuring high profitability and exclusivity. Despite a pristine balance sheet and consistent value creation, Ferrari's low cash conversion ratio highlights the capital-intensive nature of car manufacturing. Ferrari's current valuation of nearly 100x FCF and 49x EBIT suggests it is overvalued compared to its historical average of 35x EBIT. Read the full article on Seeking AlphaSeeking Alpha • Aug 23
Ferrari's High-Octane Valuation: A Luxury Ride Priced To Perfection
Summary Strong momentum of the business model with revenue and profit growth through pricing control. Solid financial performance with growing revenues and stable margins, maintaining a comfortable liquidity position. Overvalued in comparison to peers, with high valuation metrics implying superior growth and profitability expectations. Read the full article on Seeking AlphaSeeking Alpha • Aug 04
Ferrari: After Q2 Earnings Beat, Consensus Estimates Still Seem Low
Summary Ferrari reported strong second quarter results, beating estimates with revenue growth, margin improvement, and EPS growth. The company's unique business model, scarcity of products, and control over sales contribute to consistent growth and margin expansion. Analyst consensus on Ferrari's valuation and growth potential is underestimated, with the company expected to outperform expectations in the future. Read the full article on Seeking AlphaSeeking Alpha • Jul 23
Ferrari: Quantitative Analysis Suggests The Stock Is Overvalued
Summary Ferrari leads the Luxury Performance Car Industry with a 25% market share and plans to release its first electric car in Q4 2025. Financial performance is strong, with revenue growth of 7% and earnings growth of 12%, but the stock's growth prospect is limited. Despite excellent business performance, Ferrari shares are overvalued based on P/E, suggesting caution for potential investors. Read the full article on Seeking AlphaSeeking Alpha • Jul 02
Ferrari: Leveraging Racing Success For Long-Term Growth
Summary Ferrari's business model emphasizes scarcity, exclusivity, and brand loyalty, leading to consistent growth and high margins. RACE's success is attributed to its focus on luxury, not just automobiles, resulting in exceptional shareholder value. The company's history, racing legacy, and brand exclusivity contribute to its success in the automotive sector. Read the full article on Seeking AlphaSeeking Alpha • May 31
Ferrari: I'm Waiting For A Better Valuation (Downgrade)
Summary Nearly 90% of Ferrari's revenue comes from cars, but it also sells fashion, merchandise, and experiences. By 2026, it aims for 60% of vehicle sales to be hybrid or electric. Ferrari's 5-year average free cash flow growth is 23.20%, higher than LVMH's but lower than Tesla's. Its equity-to-asset ratio of 0.38 is tolerable due to strong profitability and branding. Ferrari is richly valued compared to other automakers but is justified against luxury peers. In my opinion, its forward P/E GAAP ratio of 48 is slightly high at this time. Read the full article on Seeking AlphaSeeking Alpha • May 07
Ferrari: 98% Of Employees Chose To Be Shareholders, You Should Too
Summary Ferrari reports Q1-24 results with double-digit growth, exceeding revenue and earnings expectations. Despite currency headwinds and the phasing out of the Maserati contract, Ferrari was able to grow while maintaining strict scarcity and flat shipments. Ferrari's order books are sold out into 2026, with 74% of unit deliveries made to existing clients. Read the full article on Seeking AlphaSeeking Alpha • Apr 20
Ensemble Capital - Ferrari: This Stock Has Been On A Tear
Summary “Build one less car than the market demand” is a quote attributed to founder Enzo Ferrari, yet where that line stands is more art than science. Ferrari was demonstrating economics more in line with digital and luxury businesses and deserving of a much higher valuation, more like a Hermes or Apple, rather than a typical auto company. We believe that management at Ferrari has built one of the strongest luxury brands and customer bases in the world with a complimentary robust business model that uniquely plays to these strengths. Read the full article on Seeking AlphaEarnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 8,622 | 1,971 | 1,841 | 2,856 | 16 |
| 12/31/2027 | 8,136 | 1,856 | 1,663 | 2,627 | 22 |
| 12/31/2026 | 7,573 | 1,714 | 1,508 | 2,521 | 23 |
| 3/31/2026 | 7,203 | 1,598 | 1,394 | 2,366 | N/A |
| 12/31/2025 | 7,146 | 1,597 | 1,406 | 2,349 | N/A |
| 9/30/2025 | 7,080 | 1,601 | 1,355 | 2,325 | N/A |
| 6/30/2025 | 6,958 | 1,594 | 1,359 | 2,348 | N/A |
| 3/31/2025 | 6,883 | 1,582 | 1,251 | 2,269 | N/A |
| 12/31/2024 | 6,677 | 1,522 | 938 | 1,927 | N/A |
| 9/30/2024 | 6,465 | 1,431 | 931 | 1,959 | N/A |
| 6/30/2024 | 6,364 | 1,387 | 866 | 1,849 | N/A |
| 3/31/2024 | 6,126 | 1,308 | 914 | 1,828 | N/A |
| 12/31/2023 | 5,970 | 1,252 | 848 | 1,717 | N/A |
| 9/30/2023 | 5,815 | 1,178 | 758 | 1,620 | N/A |
| 6/30/2023 | 5,520 | 1,074 | 667 | 1,523 | N/A |
| 3/31/2023 | 5,338 | 990 | 560 | 1,384 | N/A |
| 12/31/2022 | 5,095 | 933 | 599 | 1,403 | N/A |
| 9/30/2022 | 4,899 | 927 | 601 | 1,328 | N/A |
| 6/30/2022 | 4,703 | 907 | 612 | 1,328 | N/A |
| 3/31/2022 | 4,446 | 864 | 704 | 1,421 | N/A |
| 12/31/2021 | 4,271 | 831 | 546 | 1,283 | N/A |
| 9/30/2021 | 4,168 | 879 | 588 | 1,338 | N/A |
| 6/30/2021 | 4,002 | 844 | 445 | 1,165 | N/A |
| 3/31/2021 | 3,539 | 647 | 164 | 849 | N/A |
| 12/31/2020 | 3,460 | 608 | 129 | 838 | N/A |
| 9/30/2020 | 3,319 | 513 | 67 | 784 | N/A |
| 6/30/2020 | 3,346 | 510 | 127 | 832 | N/A |
| 3/31/2020 | 3,759 | 684 | 440 | 1,185 | N/A |
| 12/31/2019 | 3,767 | 696 | N/A | 1,306 | N/A |
| 9/30/2019 | 3,684 | 718 | N/A | 1,264 | N/A |
| 6/30/2019 | 3,607 | 837 | N/A | 1,224 | N/A |
| 3/31/2019 | 3,529 | 815 | N/A | 1,109 | N/A |
| 12/31/2018 | 3,420 | 785 | N/A | 934 | N/A |
| 9/30/2018 | 3,415 | 730 | N/A | 774 | N/A |
| 6/30/2018 | 3,413 | 584 | N/A | 769 | N/A |
| 3/31/2018 | 3,427 | 559 | N/A | 731 | N/A |
| 12/31/2017 | 3,417 | 535 | N/A | 663 | N/A |
| 9/30/2017 | 3,412 | 511 | N/A | 946 | N/A |
| 6/30/2017 | 3,360 | 483 | N/A | 964 | N/A |
| 3/31/2017 | 3,250 | 445 | N/A | 1,034 | N/A |
| 12/31/2016 | 3,105 | 399 | N/A | 1,005 | N/A |
| 9/30/2016 | 3,014 | 342 | N/A | 740 | N/A |
| 6/30/2016 | 2,954 | 323 | N/A | 608 | N/A |
| 3/31/2016 | 2,909 | 301 | N/A | 756 | N/A |
| 12/31/2015 | 2,854 | 288 | N/A | 707 | N/A |
| 9/30/2015 | 2,861 | 313 | N/A | 665 | N/A |
| 6/30/2015 | 2,801 | 275 | N/A | 580 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: RACE's forecast earnings growth (6.9% per year) is above the savings rate (3.5%).
Earnings vs Market: RACE's earnings (6.9% per year) are forecast to grow slower than the US market (16.4% per year).
High Growth Earnings: RACE's earnings are forecast to grow, but not significantly.
Revenue vs Market: RACE's revenue (5.9% per year) is forecast to grow slower than the US market (11.4% per year).
High Growth Revenue: RACE's revenue (5.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: RACE's Return on Equity is forecast to be high in 3 years time (38.6%)
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 21:30 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Ferrari N.V. is covered by 40 analysts. 23 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Carmen Novel | Banca Akros S.p.A. (ESN) |
| Davide Zappa | Banca Akros S.p.A. (ESN) |
| Gianmarco Bonacina | Banca Akros S.p.A. (ESN) |