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.
On March 20, 2023, Ferrari N.V. (NYSE: RACE) reported a ransom demand from a threat actor concerning client contact details. In response, Ferrari initiated an investigation with a leading cybersecurity firm and notified authorities. The company emphasized that it will not pay the ransom, as this would support criminal activities. Ferrari has informed customers about the potential data exposure while affirming that the incident has not affected its operational functions. The firm reaffirms its commitment to client confidentiality and is working to enhance its cybersecurity measures further.
Ferrari N.V. (NYSE/EXM: RACE) has announced the agenda and explanatory notes for its 2023 Annual General Meeting of Shareholders (AGM), scheduled for April 14, 2023, in Amsterdam at 9:00 a.m. CEST. Shareholders can access AGM materials on Ferrari’s corporate website. The prepared materials include audited financial statements, which shareholders can request in hard copy at no charge. This AGM is key for shareholders to engage in discussions regarding Ferrari's performance and future direction.
Ferrari N.V. (NYSE: RACE) has announced a multi-year partnership with Virtual Gaming Worlds (VGW), starting at the first Formula 1 Grand Prix in Bahrain from March 3-5, 2023. VGW will serve as a Premium Partner of Scuderia Ferrari, enhancing the team's engagement with fans through innovative gaming experiences. Lorenzo Giorgetti, Ferrari's Chief Racing Revenue Officer, expressed enthusiasm for the collaboration, highlighting the shared values of innovation and passion. VGW's CEO, Laurence Escalante, noted the significance of Ferrari as an iconic brand in motorsport, recognizing F1's growing popularity, particularly in the US.
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.
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