Ferrari N V Stock Price, News & Analysis

Ferrari N.V. (RACE) announced the completion of its Fifth Tranche share buyback program, purchasing 22,891 shares on the NYSE from February 22 to March 2, 2022. The total consideration for these shares amounted to approximately $4.96 million. Since the program's initiation on October 4, 2021, Ferrari has repurchased a total of 570,960 shares for around €120 million and $34 million. The company plans to launch a Sixth Tranche buyback program of up to €120 million starting on March 4, 2022, emphasizing ongoing confidence in shareholder value.

Ferrari has announced its 2022 Annual General Meeting (AGM), set to take place virtually on April 13, 2022, at 11:30 a.m. CEST, due to the Covid-19 pandemic. Shareholders are prohibited from attending in person to ensure health and safety. All relevant materials, including the AGM agenda and financial statements, are accessible on Ferrari's corporate website. Interested shareholders can request hard copies of these documents at no cost.

Ferrari N.V. (NYSE: RACE) has published its 2021 Annual Report and filed its Form 20-F with the United States Securities and Exchange Commission, detailing financial performance for the fiscal year ending December 31, 2021. The reports are accessible on Ferrari’s corporate website under the Investors section. Shareholders can request a hard copy of the audited financial statements free of charge. These disclosures are part of Ferrari's commitment to transparency and investor communication.

Ferrari N.V. (NYSE/EXM: RACE) announced a proposed dividend of Euro 1.362 per common share, marking a 57% increase from the previous year, totaling around Euro 250 million. This proposal will be presented to shareholders at the Annual General Meeting on April 13, 2022. If approved, the dividend's ex-date will be April 19, 2022, record date April 20, 2022, with payment scheduled for May 6, 2022.

Ferrari N.V. (NYSE/EXM: RACE) has partnered with Qualcomm Technologies to enhance its digital transformation. This collaboration will see Snapdragon, Qualcomm's premium product, utilized across Ferrari's automotive platforms. Initial projects will focus on a digital cockpit, aiming to innovate driving experiences. The Snapdragon logo will debut on the F1-75 car, set to unveil on February 17, 2022, and will include Ferrari's esports initiatives. Both CEOs emphasized the importance of this partnership in leveraging cutting-edge technology for automotive excellence.

Ferrari N.V. (RACE) announced its strong preliminary financial results for FY 2021, showcasing total shipments of 11,155 units, marking a 22.3% increase from 2020. Net revenues reached Euro 4,271 million, up 23.4% year-over-year, with EBITDA climbing to Euro 1,531 million, reflecting a 34.0% growth. The EBIT stood at Euro 1,075 million, a 50.2% increase, while net profit was Euro 833 million with a diluted EPS of Euro 4.50. The company emphasized robust cash flow generation of Euro 642 million and expressed confidence in future growth strategies.