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 (NYSE: RACE) is set to release its first-quarter financial results for 2021 on May 4, 2021. A live audio webcast and conference call are scheduled for 2:00 p.m. BST, 3:00 p.m. CEST, and 9:00 a.m. EDT. Details for the presentation will be accessible in the Investors section of Ferrari’s corporate website, requiring prior registration for the conference call. Those unable to attend the live session can access a replay on the website for two weeks.
Ferrari N.V. (NYSE/MTA: RACE) held its Annual General Meeting (AGM) on April 15, 2021, successfully passing all proposed resolutions. Shareholders approved the 2020 Annual Accounts and a cash dividend of €0.867 per share, totaling approximately €160 million, with ex-dividend date set for April 19, 2021. Additionally, John Elkann and the current board were re-elected, and Ernst & Young was appointed as the independent auditor until 2022. The AGM also renewed the authority for share issuance and repurchase, along with approving executive awards under a new equity incentive plan.
Ferrari N.V. (NYSE: RACE) has announced the restart of its share repurchase program with a fourth tranche of up to €150 million, effective March 12, 2021, until September 30, 2021. The program includes a €120 million execution on the MTA market and €30 million on the NYSE. Since its inception in 2018, Ferrari has repurchased 3,809,334 shares for approximately €513 million. Currently, the company holds 9,175,609 shares in treasury. This move is part of a strategic plan to enhance shareholder value amidst ongoing market fluctuations.
Ferrari N.V. (NYSE/MTA: RACE) has announced its 2021 Annual General Meeting (AGM) to be held virtually on April 15, 2021, at 12:00 p.m. CEST due to the ongoing Covid-19 pandemic. Shareholders will not be permitted to attend in person. The company has made the meeting agenda, explanatory notes, and other materials available on its corporate website, allowing shareholders to vote and submit questions remotely. Hard copies of the audited financial statements can be requested free of charge.
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