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Ferrari N.V. - RACE STOCK NEWS

Welcome to our dedicated page for Ferrari N.V. news (Ticker: RACE), a resource for investors and traders seeking the latest updates and insights on Ferrari N.V. stock.

Ferrari N.V. (symbol: RACE) is an iconic Italian luxury sports car manufacturer headquartered in Maranello, Italy. Founded in 1939 by Enzo Ferrari from the Alfa Romeo racing division as Auto Avio Costruzioni, Ferrari has since become synonymous with high-performance vehicles, Formula One racing, exclusivity, and cutting-edge technology. The first Ferrari-badged car was introduced in 1947, marking the start of a legacy that continues to captivate car enthusiasts worldwide.

Ferrari engineers and manufactures some of the world's most exclusive and expensive exotic sports cars. The company is celebrated for its Italian design, innovative engineering, and state-of-the-art technology. Ferrari's commitment to excellence is evident in its continuous participation and success in Formula One racing, where it has established itself as a dominant force.

In addition to its automotive prowess, Ferrari operates a captive finance company that provides funding for its dealers and clients, enhancing the purchasing experience for its exclusive clientele. The company's financial performance is robust, with 2023 revenue distribution as follows: Europe, Middle East, and Africa accounted for 48%, the Americas contributed 30%, China represented 10%, and the rest of Asia made up 12%.

Recent Achievements and Current Projects:

  • Record 2023 results have further solidified Ferrari's foundation for continuous growth.
  • A robust mix of products has sustained a strong start to the year with impressive adjusted EBITDA and EBIT figures.
  • Ferrari successfully settled an offering of Euro 500 million in aggregate principal amount of notes, due on 21 May 2030, with net proceeds of approximately Euro 497 million.

For more detailed information, you can contact Ferrari's media relations at media@ferrari.com or investor relations at ir@ferrari.com.

As a stock market investor or an enthusiast looking for the latest updates and relevant information about Ferrari N.V. (RACE), stay informed about the company’s performance, events, and developments to make well-informed decisions.

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Ferrari N.V. (NYSE/EXM: RACE) has announced the release date for its second quarter 2024 financial results. The results will be unveiled on Thursday, August 1, 2024, followed by a live audio webcast and conference call at 2:00 p.m. BST / 3:00 p.m. CEST / 9:00 a.m. EDT. Investors and interested parties can access the presentation details through Ferrari's corporate website in the Investors section. Advance registration is required for the conference call. For those unable to attend the live session, a replay will be available on Ferrari's website for two weeks after the event.

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Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program. As part of the Euro 250 million fifth tranche announced on June 28, 2024, the company has purchased additional common shares on the Euronext Milan (EXM) and New York Stock Exchange (NYSE) between July 4 and July 12, 2024.

Key points:

  • Total shares purchased: 50,627
  • Average price per share: €395.3221
  • Total consideration: €20,013,970.68
  • As of July 12, 2024, Ferrari held 14,238,293 treasury shares, representing 5.54% of total issued share capital
  • Since the multi-year buyback program's start on July 1, 2022, Ferrari has purchased 3,414,189 shares for a total of €951,199,327.64

This buyback is part of Ferrari's larger €2 billion multi-year program expected to be executed by 2026, as disclosed during the 2022 Capital Markets Day.

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Ferrari N.V. (NYSE/EXM: RACE) has announced the purchase of 22,000 common shares on Euronext Milan under its Euro 250 million buyback program launched on June 28, 2024. This program is part of a larger Euro 2 billion multi-year buyback plan set to run until 2026. From July 1 to July 3, 2024, Ferrari bought shares at an average price of €383.69, totaling €8,441,284.25. As of July 3, 2024, the company holds 14,187,666 common shares in treasury, equating to 5.52% of total issued share capital. Since the program's inception on July 1, 2022, Ferrari has acquired 3,363,562 shares for €931,185,356.96. Detailed buyback information is available on Ferrari’s corporate website.

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Ferrari N.V. (NYSE/EXM: RACE) has completed the fourth tranche of its multi-year share buyback program, buying a total of 971,899 common shares for approximately Euro 349.99 million. This tranche is part of a larger Euro 2 billion buyback initiative expected to be completed by 2026.

The company has announced a fifth tranche, set to start on July 1, 2024, with a maximum value of Euro 250 million. This includes a Euro 200 million non-discretionary buyback agreement on the EXM and a Euro 50 million additional mandate on the NYSE.

As of June 27, 2024, Ferrari holds 14,165,666 treasury shares, representing 5.51% of total issued share capital. Details of these transactions are available on Ferrari's corporate website.

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Ferrari N.V. (NYSE/EXM: RACE) announced the latest update on its Euro 350 million share buyback program, which is part of a larger Euro 2 billion buyback initiative expected to be completed by 2026. Between June 17-21, 2024, the company purchased 19,220 common shares on the Euronext Milan (EXM) for a total consideration of Euro 7,425,223.20, with an average price of Euro 386.328 per share. So far, the fourth tranche has involved purchasing 689,862 shares on EXM for Euro 245,513,426.31 and 269,191 shares on NYSE for USD 107,883,427.15. As of June 21, 2024, Ferrari holds 14,152,630 treasury shares, representing 5.51% of the total issued share capital. Since the initiation of the buyback program in July 2022, Ferrari has acquired 3,328,526 shares, amounting to Euro 917,611,462.41 in total.

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Ferrari N.V. (NYSE/EXM: RACE) announced the continuation of its Euro 350 million share buyback program, a part of its multi-year Euro 2 billion buyback plan set to be completed by 2026. As part of the fourth tranche of the buyback, from June 10 to June 14, 2024, Ferrari acquired 39,826 common shares on EXM at an average price of €384.88 per share and 20,537 shares on NYSE at $413.77 per share. The total consideration for these purchases was approximately Euro 7.9 million. Since the start of the program, Ferrari has spent Euro 910.19 million to repurchase 3,309,306 shares. As of June 14, 2024, Ferrari holds 14,133,410 treasury shares, accounting for 5.50% of total issued share capital.

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Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its Euro 350 million share buyback program, which is part of a broader Euro 2 billion buyback initiative expected to conclude by 2026. As of June 7, 2024, Ferrari purchased 651,353 common shares on the Euronext Milan (EXM) for Euro 230.66 million and 248,654 common shares on the New York Stock Exchange (NYSE) for USD 99.39 million (Euro 91.45 million). The total consideration for these shares is around Euro 321.88 million. Ferrari now holds 14,093,584 common shares in treasury, equivalent to 5.48% of its total issued share capital. Since the start of the multi-year program in July 2022, Ferrari has bought 3,269,480 shares for approximately Euro 894.86 million.

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Ferrari N.V. (NYSE/EXM: RACE) announced an update on its Euro 350 million share buyback program, the fourth tranche of a multi-year program totaling approximately Euro 2 billion, expected to be completed by 2026. From May 27 to May 31, 2024, the company purchased 39,016 common shares, investing a total of Euro 14,743,636.64. Since the start of this tranche, Ferrari has bought 631,960 shares on the Euronext Milan for Euro 223,256,895.83 and 238,857 shares on the NYSE for USD 95,386,719.05 (Euro 87,763,918.17). As of May 31, 2024, Ferrari holds 14,064,394 treasury shares, representing 5.47% of its total issued share capital. Since the program's inception in July 2022, Ferrari has acquired 3,240,290 shares for Euro 883,765,340.12.

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Ferrari has detailed its recent progress in the Euro 350 million share buyback program, part of a larger Euro 2 billion initiative planned through 2026. Between May 20-24, 2024, Ferrari acquired 19,239 common shares on the Euronext Milan (EXM) for approximately Euro 7.4 million and 41,996 shares on the New York Stock Exchange (NYSE) for around USD 17.5 million. The company has invested a total of Euro 215.87 million on EXM and USD 87.39 million (Euro 80.41 million) on NYSE shares for 612,474 and 219,327 shares respectively since the announcement of this tranche. Currently, Ferrari holds 14,025,378 shares in treasury, constituting 5.46% of its total issued share capital. Since the program's inception, Ferrari has repurchased 3,201,274 shares for Euro 869.02 million.

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On 21 May 2024, Ferrari announced the settlement of its Euro 500 million notes offering. The notes, due on 21 May 2030, have an annual interest rate of 3.625% and were issued at 99.677% of their principal amount. After deducting offering costs and expenses, Ferrari raised approximately Euro 497 million. The notes are listed on Euronext Dublin's Official List and will trade on its regulated market. The Central Bank of Ireland approved the related prospectus on 15 May 2024, and it is available on Ferrari's corporate website alongside other relevant documents.

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FAQ

What is Ferrari N.V. known for?

Ferrari N.V. is known for manufacturing high-performance luxury sports cars and its success in Formula One racing.

Where is Ferrari headquartered?

Ferrari is headquartered in Maranello, Italy.

When was Ferrari founded?

Ferrari was founded in 1939 by Enzo Ferrari.

What was the first Ferrari-badged car?

The first Ferrari-badged car was built in 1947.

How does Ferrari generate its revenue?

Ferrari generates revenue through car sales, its captive finance company, and its participation in Formula One racing.

What were Ferrari's 2023 revenue distribution percentages?

In 2023, Europe, Middle East, and Africa accounted for 48%, the Americas 30%, China 10%, and the rest of Asia 12%.

What recent financial achievement has Ferrari accomplished?

Ferrari recently settled an offering of Euro 500 million in aggregate principal amount of notes, with net proceeds of approximately Euro 497 million.

How can I contact Ferrari's media relations?

You can contact Ferrari's media relations via email at media@ferrari.com.

How can I contact Ferrari's investor relations?

You can contact Ferrari's investor relations via email at ir@ferrari.com.

What recent achievement did Ferrari highlight for 2023?

Ferrari highlighted its record-breaking 2023 results, strengthening its foundation for continuous growth.

Ferrari N.V.

NYSE:RACE

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74.80B
180.12M
34.06%
37.48%
1.02%
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