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: RACE) has released its 2022 Annual Report and filed its annual report on Form 20-F with the U.S. Securities and Exchange Commission as of February 24, 2023. The report includes audited financial statements for the fiscal year ending December 31, 2022. Investors can access the report on Ferrari's corporate website under the Investors section, where it is available for viewing and downloading. Hard copies of the materials can be requested by shareholders.
Ferrari N.V. (RACE) announced a proposed dividend of Euro 1.810 per common share, marking a 33% increase from the previous year, amounting to a total distribution of approximately Euro 329 million. This proposal will be presented to shareholders for approval at the Annual General Meeting scheduled for April 14, 2023.
If approved, the ex-date is anticipated on April 24, 2023, the record date on April 25, 2023, and payments will be made on May 5, 2023.
Ferrari N.V. (RACE) has announced the completion of a share buyback as part of its broader program totaling €2 billion by 2026. The recent buyback, announced on December 1, 2022, represents the second tranche of this initiative, amounting to €200 million. The purchases will occur daily and will be executed on Euronext Milan and the New York Stock Exchange. This move aligns with Ferrari's strategy to enhance shareholder value and reflects its ongoing commitment to returning capital to investors.
Ferrari N.V. (NYSE/EXM: RACE) announced the appointment of Lorenzo Giorgetti as Chief Racing Revenue Officer, effective February 7, 2022. Giorgetti, who previously served as Chief Commercial Officer at AC Milan, is recognized for his success in commercial growth within sports. In his new role, he will enhance long-term partnerships with sponsors and engage with Ferrari's global fan community, including entering the Esports sector. CEO Benedetto Vigna expressed optimism about Giorgetti's leadership and experience, highlighting the excitement of developing opportunities together with sponsors and fans.
Ferrari reported strong financial results for FY 2022, with total shipments reaching 13,221 units, an 18.5% increase from FY 2021. Net revenues grew 19.3% to Euro 5,095 million, while EBITDA rose 15.8% to Euro 1,773 million, reflecting a margin of 34.8%. The net profit stood at Euro 939 million, with diluted earnings per share at Euro 5.09. The company anticipates solid demand in 2023, with guidance for net revenues between Euro 5.1 billion and 5.7 billion. Positive factors include strong product portfolio and improved profitability, despite cost inflation headwinds.
Ferrari N.V. (NYSE: RACE) announced its 2023 corporate calendar, detailing important dates for earnings releases and the Annual General Meeting. Key earnings reports include:
- February 2, 2023: Q4 and full-year 2022 results
- May 4, 2023: Q1 2023 results
- August 2, 2023: Q2 2023 results
- November 2, 2023: Q3 2023 results
The Annual General Meeting for the approval of 2022 financial statements is set for April 14, 2023. Live webcasts of earnings presentations will be accessible via the Company's corporate website.
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