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. hosted its Capital Markets Day on June 16, 2022, in Maranello, Italy. The event started at 9:00 a.m. BST / 10:00 a.m. CEST / 4:00 a.m. EDT, with a live webcast available for investors. The presentation details can be accessed through the corporate website. For those unable to attend the live session, a replay will be archived online, ensuring accessibility to the information shared during the event.
Ferrari N.V. (NYSE/EXM: RACE) is set to host its Capital Markets Day on June 16, 2022, in Maranello, Italy. The event will commence at 9:00 a.m. BST / 10:00 a.m. CEST / 4:00 a.m. EDT. A live webcast will be available on the company's corporate website for stakeholders and investors, featuring the details of the event and a presentation. For those unable to attend live, a replay will be made accessible on the same platform.
Ferrari N.V. (RACE) has completed its sixth tranche of the common share buyback program, purchasing an additional 3,417 shares on May 20, 2022, at an average price of $189.51. The total investment since March 3, 2022, is approximately $21.44 million for 112,771 shares on the NYSE, and €99.99 million for 527,592 shares on the EXM. Since January 1, 2019, Ferrari has repurchased 5,948,850 shares for a total consideration of €923.42 million. As of May 27, 2022, Ferrari holds 11,065,110 treasury shares, representing 4.30% of its total issued share capital.
Ferrari N.V. (RACE) reported strong preliminary results for Q1 2022, with total shipments increasing by 17.3% to 3,251 units. Net revenues reached Euro 1,186 million, also up 17.3% year-over-year. EBITDA stood at Euro 423 million (up 12.5%) with a margin of 35.6%. EBIT rose to Euro 307 million, marking a 15.4% increase, while net profit hit Euro 239 million with diluted EPS at Euro 1.29. The company generated Euro 299 million in industrial free cash flow, bolstered by strong order intake, securing sales well into 2023.
Ferrari (NYSE: RACE) will release its financial results for Q1 2022 on May 4, 2022, with a conference call at 2:00 p.m. BST / 3:00 p.m. CEST / 9:00 a.m. EDT. The event will be accessible via a live audio webcast, and details for participation will be provided in the Investors section of Ferrari’s website. A replay will be available for two weeks after the call.
Ferrari held its Annual General Meeting on April 13, 2022, where all proposed resolutions were approved by shareholders. Key outcomes included the approval of the 2021 Annual Accounts and a cash dividend of €1.362 per share, totaling around €250 million. The dividend will be paid on May 6, 2022. The AGM also appointed directors and renewed authorities for share issuances and repurchases. Notably, Ernst & Young was appointed as the independent auditor for the 2022 financial year. Additionally, the 2021 Sustainability Report was published, adhering to GRI Standards.
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