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. 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.
Ferrari N.V. announced the offering of unsecured debt securities (Notes) to be used for general corporate purposes. The Notes will be offered under Regulation S, not registered in the U.S., and targeted at specific investor groups. The press release is not an offer for U.S. residents.
Ferrari N.V. reported a strong start to the year with net revenues of Euro 1,585 million, a 10.9% increase from the prior year. Adjusted EBIT reached Euro 442 million, up 14.8%. Adjusted net profit was Euro 352 million, and adjusted diluted EPS stood at Euro 1.95. Industrial free cash flow generation was Euro 321 million. The company's value over volume strategy proved successful, driven by product and country mix improvements. The company confirmed its 2024 guidance, including positive product and country mix, strong personalizations, and continuous brand investments.
Ferrari N.V. informs about the purchase of common shares under the Euro 350 million share buyback program, part of a larger program aiming for approximately Euro 2 billion by 2026. The company has bought back a total of 11,525 shares for about Euro 4.55 million. Since the start of the program in July 2022, 3,061,242 own common shares have been repurchased for a total consideration of Euro 815.19 million.
Ferrari N.V. has been actively engaged in a share buyback program, with the recent purchase of common shares totaling around Euro 9 million. This is part of a larger program aiming to buy back approximately Euro 2 billion worth of shares by 2026. The company has already purchased over 3 million of its own common shares since the initiation of the program in 2022. As of April 29, 2024, Ferrari holds around 5.40% of its total issued share capital in treasury.
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