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. (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.
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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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Ferrari N.V. (NYSE/EXM: RACE) announced the appointment of Lorenzo Giorgetti as Chief Racing Revenue Officer, effective February 7, 2022. Giorgetti, who previously served as Chief Commercial Officer at AC Milan, is recognized for his success in commercial growth within sports. In his new role, he will enhance long-term partnerships with sponsors and engage with Ferrari's global fan community, including entering the Esports sector. CEO Benedetto Vigna expressed optimism about Giorgetti's leadership and experience, highlighting the excitement of developing opportunities together with sponsors and fans.
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Ferrari reported strong financial results for FY 2022, with total shipments reaching 13,221 units, an 18.5% increase from FY 2021. Net revenues grew 19.3% to Euro 5,095 million, while EBITDA rose 15.8% to Euro 1,773 million, reflecting a margin of 34.8%. The net profit stood at Euro 939 million, with diluted earnings per share at Euro 5.09. The company anticipates solid demand in 2023, with guidance for net revenues between Euro 5.1 billion and 5.7 billion. Positive factors include strong product portfolio and improved profitability, despite cost inflation headwinds.
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