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.
On 14 May 2024, Ferrari announced the pricing of a €500 million issue of notes due in May 2030, which was more than twice oversubscribed. The notes are priced at 99.677% of their principal amount and carry an annual coupon of 3.625%. The funds raised will be used for general corporate purposes. Banco Santander, BNP Paribas, Citigroup, Crédit Agricole, J.P. Morgan, Mediobanca, and UniCredit acted as Joint Lead Managers. The notes are expected to be admitted to the Official List of Euronext Dublin and to trade on its regulated market by 21 May 2024.
Ferrari N.V. informs about the Fourth Tranche of its Euro 2 billion share buyback program, reporting the purchase of common shares on the Euronext Milan and NYSE. Since July 2022, the company has acquired over 3 million own common shares for approximately Euro 823 million. As of May 10, 2024, Ferrari holds 5.41% of the total issued share capital.
Ferrari N.V. announced the offering of unsecured debt securities (Notes) to be used for general corporate purposes. The Notes will be offered under Regulation S, not registered in the U.S., and targeted at specific investor groups. The press release is not an offer for U.S. residents.
Ferrari N.V. reported a strong start to the year with net revenues of Euro 1,585 million, a 10.9% increase from the prior year. Adjusted EBIT reached Euro 442 million, up 14.8%. Adjusted net profit was Euro 352 million, and adjusted diluted EPS stood at Euro 1.95. Industrial free cash flow generation was Euro 321 million. The company's value over volume strategy proved successful, driven by product and country mix improvements. The company confirmed its 2024 guidance, including positive product and country mix, strong personalizations, and continuous brand investments.
Ferrari N.V. informs about the purchase of common shares under the Euro 350 million share buyback program, part of a larger program aiming for approximately Euro 2 billion by 2026. The company has bought back a total of 11,525 shares for about Euro 4.55 million. Since the start of the program in July 2022, 3,061,242 own common shares have been repurchased for a total consideration of Euro 815.19 million.
Ferrari N.V. has been actively engaged in a share buyback program, with the recent purchase of common shares totaling around Euro 9 million. This is part of a larger program aiming to buy back approximately Euro 2 billion worth of shares by 2026. The company has already purchased over 3 million of its own common shares since the initiation of the program in 2022. As of April 29, 2024, Ferrari holds around 5.40% of its total issued share capital in treasury.
FAQ
What is the current stock price of Ferrari N.V. (RACE)?
What is the market cap of Ferrari N.V. (RACE)?
What is Ferrari N.V. known for?
Where is Ferrari headquartered?
When was Ferrari founded?
What was the first Ferrari-badged car?
How does Ferrari generate its revenue?
What were Ferrari's 2023 revenue distribution percentages?
What recent financial achievement has Ferrari accomplished?
How can I contact Ferrari's media relations?
How can I contact Ferrari's investor relations?
What recent achievement did Ferrari highlight for 2023?
