Sustainable mobility, luxury, but also digital, healthcare and fintech. These are the guidelines indicated by the president John Elkann during the Exor shareholders' meeting, which met virtually today. The shareholders approved the budget 2020 and have given the green light to the distribution of a dividend equal to 43 cents per share, for a maximum amount of approximately 100 million euro. Ok also to a program of share repurchase treasury shares for 500 million euro plus the possibility for the board of directors to eliminate the treasury shares held.
News also in the composition of the board of Exor. He joins the board as a non-executive director, Ajay Banga, executive chairman of the board of Mastercard. Instead, Antonio Horta-Osorio leaves, who will join the board of directors of the subsidiary PartnerRe.
This is Exor's present, while as regards the future, John Elkann seems to have clear ideas. "The health sector, together with fintech and mobility, are the ones on which the Exor Seeds team will most likely focus its work in the coming months,” announced Elkann. In 2020, he continued, “we made several investments in early stage company, thus bringing to 40 the number of Seeds (seeds) that we have planted. They are companies that are developing rapidly and have the potential to each become a leader in its market”. Furthermore, he added, "among the new investments made in the first quarter of 2021, Casavo deserves to be mentioned, which in just 4 years of activity has become the European leader in real estate instant buying and Alan, the Health Industry App which offers economic and personalized services for the care of people, for the payment of services".
Eyes also focused on luxury, after the investments made in Shang Xia and Christian Louboutin. “Three factors will be of utmost importance: China, digital and sustainability”, indicated the president of Exor, underlining that the company will look above all at the “ability to seize the opportunities linked to China, because about 50% of purchases of luxury goods will depend on Chinese consumers in 2025”. Also important will be the "digital transformation, which will allow brands to stay in close contact with their customers, especially the younger ones, who are increasingly inclined to buy directly from their devices" and, finally, there will be particular "attention to sustainability, a a topic of growing importance for companies that want to be really big and capable of taking into consideration the needs of all stakeholders". Elkann also announced that he had proposed a new ESG committee to the board: "We have worked to carefully define our ESG (Environment, Social and Governance) approach, which falls within the scope of our responsibilities".
Reviewing the companies of the group, the chairman described the results obtained by as encouraging stellantis in the first quarter of 2021. "Stellantis' journey continues with an important event: the Electification Day to be held in July will mark a fundamental moment in the construction of its future, with sustainable mobility playing a leading role", he continued .
Su Ferrari "The future promises to be full of exciting challenges and extraordinary opportunities to be seized", said the manager. “The theme of sustainable mobility has also become central for Ferrari, which has just embarked on its electrification journey, and which above all is preparing to unveil its first fully electric model in 2025”. No news on the new ad ten months after Camilleri's farewell.
For Cnh Industrial, Elkann praised the results achieved in 2020, a year in which “the profitability of all industrial segments improved. He therefore enters 2021 stronger, under the leadership of the new CEO Scott Wine whom I welcomed in January ”.
"Scott is working to implement the strategic plan that was presented on the 2019 capital market day: the separation of activities, which will lead to the creation of two world-class players in the on and off highway markets", explained Elkann, referring to the demerger of CNH in the two businesses of trucks, on the one hand, and agricultural and earthmoving machinery, on the other. In the meantime, at Piazza Affari the CNH stock achieves one of the best performances of the day, recording an increase of 3,36%. Close behind is Stellantis (+3%), while Exor gains 1,32%. Flat Ferrari, +1,1% for Juventus on the day ofagreement with Allegri, who will return after two years to sit on the black and white bench.
