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) reported strong second quarter results for 2022, highlighting a significant growth trajectory. Shipments reached 3,455 units, up 28.7% from Q2 2021. Net revenues soared to Euro 1,291 million, a 24.9% increase year-over-year. EBITDA and EBIT also showed robust growth, with figures at Euro 446 million and Euro 323 million, respectively. The company’s net profit hit Euro 251 million, translating to a diluted EPS of Euro 1.36. Ferrari has revised its 2022 guidance upward across all metrics and recorded a historic net order intake during this period.
Ferrari N.V. (NYSE/EXM: RACE) will announce its Q2 2022 financial results on August 2, 2022. The event will feature a live audio webcast and conference call starting at 2:00 p.m. BST / 3:00 p.m. CEST / 9:00 a.m. EDT. Investors can access the presentation details on Ferrari's corporate website. A replay will be available for two weeks post-event for those unable to attend the live session.
Ferrari N.V. (RACE) announces a Euro 150 million share buyback program, initiating the first tranche of a planned Euro 2 billion buyback by 2026. The first tranche runs from July 1, 2022, to November 30, 2022, funded by available cash. It involves two components: a Euro 120 million non-discretionary buyback on the EXM market and an additional Euro 30 million mandate on the NYSE. This program aligns with the April 2022 shareholders' meeting resolution, allowing for the repurchase of up to 10% of common shares, set to expire on October 12, 2023.
Ferrari's Strategic Outlook (2023-2026)
Ferrari plans to launch 15 new models, maintaining exclusivity, with Icona and Supercar models comprising under 5% of total volumes. The Purosangue will be unveiled in September 2022, contributing less than 20% to annual shipments. By 2026, the product mix will consist of 40% ICE and 60% hybrid/electric vehicles. Expected EBITDA will reach Euro 2.5-2.7 billion with a margin of 38%-40%. A capital expenditure of Euro ~4.4 billion supports product development, while a dividend payout will rise to 35% of net income.
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