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.
Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its share buyback program. Under the recently announced Euro 150 million sixth tranche of their multi-year buyback program, the company has made significant purchases between December 16-19, 2024. The total investment includes:
- Euro 36,273,257.40 for 85,740 shares on EXM - USD 10,969,297.64 (Euro 10,469,630.39) for 25,020 shares on NYSE
As of December 19, 2024, Ferrari holds 14,879,168 treasury shares, representing 5.79% of total issued share capital. Since the program's inception on July 1, 2022, Ferrari has purchased 4,056,404 shares for a total consideration of Euro 1,219,479,343.84 as part of their Euro 2 billion multi-year buyback program expected to be executed by 2026.
Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its Euro 150 million share buyback program announced on December 5, 2024. This represents the sixth tranche of their multi-year Euro 2 billion buyback program expected to run through 2026.
Between December 6-13, 2024, Ferrari purchased:
- 45,980 shares on EXM for €19,741,895.00
- 5,513 shares on NYSE for $2,499,852.21 (€2,382,854.07)
As of December 13, 2024, Ferrari held 14,819,901 treasury shares, representing 5.77% of total issued share capital. Since the program's inception on July 1, 2022, Ferrari has purchased 3,997,137 shares for a total consideration of Euro 1,194,861,205.11.
Ferrari (NYSE/EXM: RACE) has announced a multi-year agreement with Andretti Formula Racing, set to begin in 2026. Under this agreement, Ferrari will supply power units and gearboxes to the Andretti racing team, which is led by TWG Global and General Motors. The agreement is contingent upon Andretti Formula Racing receiving official confirmation and approval from the FIA for their entry into the 2026 FIA Formula One Championship.
Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its Euro 250 million share buyback program announced on June 28, 2024. This represents the fifth tranche of their multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026. Between November 13-20, 2024, Ferrari purchased 18,671 common shares on the NYSE at an average price of $433.79, totaling $8,099,230.10 (€7,658,668.37). As of November 21, 2024, Ferrari held 14,765,168 treasury shares, representing 5.75% of total issued share capital. Since the program's inception in July 2022, Ferrari has purchased 3,942,404 shares for a total consideration of Euro 1,171,406,136.74.
Ferrari N.V. (NYSE/EXM: RACE) has completed significant share buybacks under its €250 million program announced on June 28, 2024. This represents the fifth tranche of a larger €2 billion multi-year buyback program expected to run through 2026. Between November 4-6, 2024, Ferrari purchased 68,148 common shares on Euronext Milan for €28,173,908.18.
As of November 8, 2024, the total invested amount reached €199,999,033.02 for 484,498 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE. The company now holds 14,746,497 treasury shares, representing 5.74% of total issued share capital. Since the program's inception in July 2022, Ferrari has purchased 3,923,733 shares for a total of €1,163,747,468.36.
Ferrari reported strong Q3 2024 financial results with net revenues of €1,644 million, up 6.5% year-over-year. The company delivered 3,383 units, down 2.2% from the previous year. Adjusted EBIT reached €467 million, increasing 10.3% with a 28.4% margin. Adjusted net profit grew to €375 million, with adjusted diluted EPS at €2.08. The quarter saw strong product mix and increased personalizations, with hybrid models representing 55% of shipments. Industrial free cash flow was €364 million, and the company expressed increased confidence in its 2024 guidance.
Ferrari N.V. (NYSE/EXM: RACE) has reported its latest share buyback activities under the €250 million program announced on June 28, 2024. This represents the fifth tranche of their €2 billion multi-year buyback program expected to run through 2026. From October 28 to November 1, 2024, Ferrari purchased 18,300 common shares on the Euronext Milan (EXM) at an average price of €446.5533, totaling €8,171,925.21.
As of November 1, 2024, the total invested consideration since the fifth tranche announcement includes €171,825,124.84 for 416,350 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE. The company now holds 14,678,349 treasury shares, representing 5.71% of total issued share capital.
Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its share buyback program. Under the €250 million fifth tranche announced on June 28, 2024, Ferrari purchased 17,800 common shares on EXM between October 21-25, 2024, at an average price of €445.9434, totaling €7,937,793.27.
Since the fifth tranche announcement, Ferrari has invested €163,653,199.63 for 398,050 shares on EXM and USD 45,452,667.64 for 97,673 shares on NYSE. As of October 25, 2024, Ferrari held 14,661,389 treasury shares, representing 5.71% of total issued share capital.
This is part of Ferrari's larger €2 billion multi-year buyback program announced during the 2022 Capital Markets Day, under which the company has purchased 3,837,285 shares for €1,127,401,634.97 since July 1, 2022.
Ferrari (NYSE/EXM: RACE) has announced a multi-year renewal of its partnership with Shell, effective January 1, 2026. The renewed agreement will cover three key areas: Scuderia Ferrari HP, Ferrari Hypercar, and the Ferrari Challenge Series. This extension continues the long-standing collaboration between the two global brands.
Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program, which is part of a larger Euro 2 billion multi-year initiative announced during the 2022 Capital Markets Day. The current phase, known as the Fifth Tranche, involves a Euro 250 million share buyback announced on June 28, 2024.
From October 14 to October 18, 2024, Ferrari purchased 17,600 common shares on the Euronext Milan (EXM) at an average price of €437.7275 per share, totaling €7,704,003.72. Since the Fifth Tranche began, Ferrari has invested €155,715,406.35 for 380,250 shares on EXM and $45,452,667.64 for 97,673 shares on NYSE.
As of October 18, 2024, Ferrari held 14,643,589 treasury shares, representing 5.70% of its total issued share capital. Since July 1, 2022, the company has purchased 3,819,485 shares for a total of €1,119,463,841.70 across both EXM and NYSE.
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