Welcome to our dedicated page for Ferrari news (Ticker: RACE), a resource for investors and traders seeking the latest updates and insights on Ferrari stock.
Ferrari N.V. reports developments tied to its luxury performance-car business, including vehicle mix, personalization demand, product introductions, guidance, and profitability metrics such as EBIT, EBITDA, earnings per share, and industrial free cash flow. The company designs, engineers, and manufactures Ferrari cars and generates additional activity from racing, sponsorship, commercial, and brand-related operations.
Recurring updates also cover shareholder actions for RACE, including annual general meeting votes, dividend proposals and approvals, common-share repurchase programs, treasury-share disclosures, annual reports, sustainability reporting, and listings on the New York Stock Exchange and Euronext Milan.
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Ferrari N.V. announced the appointment of Benedetto Vigna as its new CEO, effective September 1. Vigna is currently the President of the Analog, MEMS, and Sensors Group at STMicroelectronics, where he has extensive experience in driving innovation and business growth.
Chairman John Elkann expressed confidence that Vigna's technological expertise and leadership will enhance Ferrari's position in the automotive sector. Vigna aims to further develop the brand's reputation for creating beautiful, advanced cars, leveraging his background in technology to address evolving market demands.
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Ferrari N.V. (RACE) reported strong Q1 results with net revenues of Euro 1,011 million, up 8.5% year-over-year. Total shipments slightly increased to 2,771 units. Key financial metrics showed robust growth: EBITDA rose 18.6% to Euro 376 million with a margin of 37.2%, and EBIT increased 20.9% to Euro 266 million (margin: 26.3%). The company generated Euro 147 million in industrial free cash flow. Despite the pandemic's impact, Ferrari is confident in achieving its 2021 guidance and noted a record order book.
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Ferrari (NYSE: RACE) is set to release its first-quarter financial results for 2021 on May 4, 2021. A live audio webcast and conference call are scheduled for 2:00 p.m. BST, 3:00 p.m. CEST, and 9:00 a.m. EDT. Details for the presentation will be accessible in the Investors section of Ferrari’s corporate website, requiring prior registration for the conference call. Those unable to attend the live session can access a replay on the website for two weeks.