Core Insights - The company has set a revenue growth target of approximately 5% annually until 2030, which some analysts view as cautious [1] - There is a commitment to deliver on previous promises, indicating confidence in the luxury market despite potential challenges [2][3] - The company aims to maintain a balance between client satisfaction and investor expectations, emphasizing a long-term approach to cash management [5][6] Financial Performance - The company has projected €8 billion in free cash flow over the next five years, with €7 billion allocated for dividends and buybacks, although some analysts expressed disappointment with these figures [4] - Margins are expected to exceed 40%, with aspirations for higher margins on specific models [6] Product Strategy - The company plans to limit the number of supercar owners to no more than 5%, maintaining exclusivity as a key aspect of its business model [8] - The electric vehicle (EV) target has been revised down to 20% of the lineup by 2030, previously set at 40%, reflecting a strategic adjustment based on market conditions [12][14] - The company is increasing the number of internal combustion engine models, indicating a focus on traditional offerings alongside EVs [13] Market Positioning - The company acknowledges challenges in the Chinese market, where it aims to maintain a market share below 10% while adapting its offerings to better fit local preferences [21][22] - There is a recognition of the competitive landscape, with peers like Porsche and BMW losing market share in China, prompting a reevaluation of the company's strategy in that region [20]