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 signed a Memorandum of Understanding with the Italian Ministry of Economic Development, Invitalia, and the Emilia-Romagna Region. This agreement aims to fortify Ferrari's commitment to innovation, technology, and environmental responsibility, with planned investments expected to benefit the Maranello and Modena areas. The initiative will facilitate the hiring of 250 new employees and may secure up to €106 million from MISE for industrial and R&D projects focused on reducing environmental impact. Ferrari will unveil further details of its industrial plan on 16 June 2022.
Ferrari N.V. (RACE) announced the completion of its Fifth Tranche share buyback program, purchasing 22,891 shares on the NYSE from February 22 to March 2, 2022. The total consideration for these shares amounted to approximately $4.96 million. Since the program's initiation on October 4, 2021, Ferrari has repurchased a total of 570,960 shares for around €120 million and $34 million. The company plans to launch a Sixth Tranche buyback program of up to €120 million starting on March 4, 2022, emphasizing ongoing confidence in shareholder value.
Ferrari has announced its 2022 Annual General Meeting (AGM), set to take place virtually on April 13, 2022, at 11:30 a.m. CEST, due to the Covid-19 pandemic. Shareholders are prohibited from attending in person to ensure health and safety. All relevant materials, including the AGM agenda and financial statements, are accessible on Ferrari's corporate website. Interested shareholders can request hard copies of these documents at no cost.
Ferrari N.V. (NYSE: RACE) has published its 2021 Annual Report and filed its Form 20-F with the United States Securities and Exchange Commission, detailing financial performance for the fiscal year ending December 31, 2021. The reports are accessible on Ferrari’s corporate website under the Investors section. Shareholders can request a hard copy of the audited financial statements free of charge. These disclosures are part of Ferrari's commitment to transparency and investor communication.
Ferrari N.V. (NYSE/EXM: RACE) announced a proposed dividend of Euro 1.362 per common share, marking a 57% increase from the previous year, totaling around Euro 250 million. This proposal will be presented to shareholders at the Annual General Meeting on April 13, 2022. If approved, the dividend's ex-date will be April 19, 2022, record date April 20, 2022, with payment scheduled for May 6, 2022.
Ferrari N.V. (NYSE/EXM: RACE) has partnered with Qualcomm Technologies to enhance its digital transformation. This collaboration will see Snapdragon, Qualcomm's premium product, utilized across Ferrari's automotive platforms. Initial projects will focus on a digital cockpit, aiming to innovate driving experiences. The Snapdragon logo will debut on the F1-75 car, set to unveil on February 17, 2022, and will include Ferrari's esports initiatives. Both CEOs emphasized the importance of this partnership in leveraging cutting-edge technology for automotive excellence.
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