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.
Introduction
Ferrari N.V. (NYSE/EXM: RACE) stands as an iconic symbol in the luxury automotive sphere, renowned for its meticulously crafted luxury sports cars and revered motor racing heritage. Combining decades of experience in automotive engineering with a passion for performance, Ferrari has established itself as a benchmark in the high-performance vehicle segment. Keywords such as "luxury sports cars", "automotive engineering", and "motor racing" encapsulate the essence of the brand from the onset.
Heritage and Brand Legacy
Originating from a rich history that dates back to the early collaborations in motor racing and production innovations, Ferrari was founded by Enzo Ferrari in 1939. The company initially evolved from its affiliation with Alfa Romeo's racing division, laying the groundwork for a legacy built on speed, precision, and aesthetic excellence. Its evolution into one of the world's most cherished luxury brands has been underpinned by a commitment to design, performance, and exclusivity.
Core Business Operations
Ferrari N.V. is primarily engaged in the design, engineering, and manufacturing of luxury sports cars that uniquely combine cutting-edge technology with traditional Italian craftsmanship. Its business model is centered on several key segments:
- High-end Vehicle Sales: The cornerstone of the company, Ferrari’s car sales are characterized by a deliberate strategy of keeping supply below demand, thereby ensuring that each vehicle represents a rare and prestigious purchase.
- Spare Parts and Accessories: Complementing its vehicle sales, Ferrari supplies genuine spare parts and specialized accessories that maintain the brand’s performance standards and heritage aesthetics.
- Commercial and Racing Activities: Beyond automobiles, Ferrari extends its expertise to sponsorships, licensable brand activities, and participations in high-profile racing events. These initiatives not only reinforce the company’s technological prowess but also amplify its global brand presence.
Market Position and Competitive Landscape
In the competitive realm of luxury automotive manufacturing, Ferrari N.V. distinguishes itself through precise control of production volumes and exceptional attention to detail. Its strategic positioning is reinforced by:
- Exclusivity: A highly controlled supply chain ensuring products remain exclusive and desirable.
- Engineering Excellence: Advanced automotive engineering that continuously pushes the boundaries of performance and innovation.
- Global Brand Prestige: A widespread network of loyal clientele and robust brand recognition, bolstered by its involvement in international racing circuits and lifestyle initiatives.
Industry Significance and Operational Insight
Ferrari N.V.'s operations are deeply intertwined with the broader landscape of automotive innovation and luxury market dynamics. The company leverages its illustrious history and engineering expertise to remain at the forefront of design and performance. Every vehicle is a testament to a tradition of excellence, combining artisanal craftsmanship with modern technological advancements. Its dual focus on heritage and innovation positions Ferrari as a distinguished player within the competitive automotive industry.
Global Footprint and Revenue Streams
The company’s revenue streams are diversified across multiple geographies, catering to a discerning global clientele. Its operations span across key regions including Europe, the Americas, and various parts of Asia, ensuring a balanced exposure and resilience in its market approach. A significant portion of its revenue is generated through the sale of vehicles and genuine spare parts, while additional income is derived from its branding and racing-related activities. This balanced model not only supports its luxury pricing strategy but also reinforces its status as a cultural and technological icon.
Technological Innovation and Racing Integration
At the heart of Ferrari N.V.'s success lies a relentless pursuit of technological innovation. The company integrates state‐of‐the‐art engineering techniques with traditional design principles to produce vehicles that excel in both performance and aesthetics. Its sustained involvement in high-tier racing events and partnerships with reputable teams exhibit its commitment to pushing performance limits. This dual focus on consumer vehicles and motorsport underwrites a reputation for reliability, high performance, and groundbreaking engineering advancements.
Customer Loyalty and After-Sales Excellence
Ferrari's business model is further enhanced by its robust customer relationships and after-sales service. More than a purchase, a Ferrari is seen as an investment in an exclusive lifestyle backed by a community of long-term clientele. Through personalized services, premium spare parts, and specialized support, the company ensures that its customer experience is in line with the prestigious brand image it upholds.
Conclusion
In summary, Ferrari N.V. exemplifies the fusion of high-performance engineering, luxury design, and a storied competitive racing legacy. Its carefully curated product offerings, combined with its strategic global presence, make it a subject of extensive interest among automotive enthusiasts and investment researchers alike. Every aspect of its operations reflects a commitment to excellence that continues to shape the landscape of luxury sports car manufacturing.
Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program, which is part of a larger Euro 2 billion multi-year initiative announced during the 2022 Capital Markets Day. The current phase, known as the Fifth Tranche, involves a Euro 250 million share buyback announced on June 28, 2024.
From September 16 to September 20, 2024, Ferrari purchased a total of 42,089 common shares at an average price of Euro 418.8299, for a total consideration of Euro 17,628,132.33. These purchases were made on both the Euronext Milan (EXM) and the New York Stock Exchange (NYSE).
As of September 20, 2024, Ferrari held 14,475,992 common shares in treasury, representing 5.63% of the total issued share capital. Since the start of the multi-year buyback program on July 1, 2022, the company has purchased a total of 3,651,888 common shares for a total consideration of Euro 1,049,375,202.35.
Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program, which is part of a larger Euro 2 billion multi-year initiative set to run until 2026. The current tranche, announced on June 28, 2024, has a value of Euro 250 million. From September 10 to 13, 2024, Ferrari purchased:
- 21,350 shares on EXM at an average price of €425.4026
- 12,996 shares on NYSE at an average price of $469.2569
The total investment for this period was €14,605,631.61. Since the start of the fifth tranche, Ferrari has invested €95,354,985.16 on EXM and $15,096,772.10 on NYSE. As of September 13, 2024, Ferrari held 14,433,903 treasury shares, representing 5.62% of its total issued share capital.
Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program. From September 2 to September 9, 2024, the company purchased a total of 41,198 common shares at an average price of €435.6410, for a total consideration of €17,947,536.96. These purchases were made on both the Euronext Milan (EXM) and New York Stock Exchange (NYSE).
This is part of the €250 million share buyback program announced on June 28, 2024, which is the fifth tranche of a larger multi-year buyback program of approximately €2 billion expected to be executed by 2026. Since the announcement of this fifth tranche, Ferrari has invested a total of €94,397,365.70 for 233,891 common shares.
As of September 9, 2024, Ferrari held 14,399,557 treasury shares, representing 5.60% of its total issued share capital. Since the start of the multi-year program in July 2022, the company has purchased 3,575,453 common shares for a total of €1,017,141,438.41.
Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program, which is part of a larger Euro 2 billion multi-year initiative announced during the 2022 Capital Markets Day. The current phase, known as the Fifth Tranche, involves a Euro 250 million share repurchase plan announced on June 28, 2024.
From August 23 to August 30, 2024, Ferrari bought back 33,616 common shares at an average price of €437.4443 per share, totaling €14,705,128.16. These purchases were made on both the Euronext Milan (EXM) and New York Stock Exchange (NYSE). Since the Fifth Tranche began, Ferrari has invested €73,651,128.73 for 186,150 shares on EXM and approximately €9,117,101 for 6,543 shares on NYSE.
As of August 30, 2024, Ferrari held 14,358,359 treasury shares, representing 5.59% of its total issued share capital. Since the multi-year buyback program's inception on July 1, 2022, Ferrari has repurchased 3,534,255 shares for a total of €999,193,901.46.
Ferrari N.V. (NYSE/EXM: RACE) has announced a significant multi-year partnership with UniCredit S.p.A., set to commence on January 1, 2025. This collaboration will see UniCredit supporting Ferrari S.p.A., a wholly-owned subsidiary of Ferrari N.V., in its Formula 1 racing activities. The partnership marks a strategic alliance between two prominent Italian brands, potentially boosting Ferrari's financial resources and global visibility in the competitive world of Formula 1 racing. While specific financial terms were not disclosed, such partnerships typically involve substantial sponsorship deals that can significantly impact a company's marketing and operational budgets in motorsport.
Ferrari N.V. (NYSE/EXM: RACE) has announced the termination of its partnership with Santander, effective December 31, 2024. The collaboration, which began in January 2022 following a previous stint from 2010 to 2017, will conclude as the three-year contract expires. Santander has served as a Premium Partner for Scuderia Ferrari in Formula 1 and supported Ferrari's Le Mans Hypercar (LMH) program.
Lorenzo Giorgetti, Chief Racing Revenue Officer of Ferrari, expressed gratitude for Santander's dedication and contributions to Ferrari's achievements over the past three years. Juan Manuel Cendoya, global head of Communications, Corporate Marketing and Research at Santander, acknowledged the importance of sponsorships in client engagement and brand reinforcement, indicating that Santander will continue to work with various partners in the future.
Ferrari N.V. (NYSE/EXM: RACE) reported strong Q2 2024 results, demonstrating continued growth and execution. Net revenues increased 16.2% year-over-year to €1,712 million, with total shipments up 2.7% to 3,484 units. Adjusted EBIT rose 17.0% to €511 million, with a margin of 29.9%. Adjusted net profit reached €413 million, with adjusted diluted EPS at €2.29. Adjusted EBITDA grew 13.7% to €669 million, with a margin of 39.1%. The company generated €121 million in industrial free cash flow.
CEO Benedetto Vigna highlighted the enrichment of product mix and increased demand for personalizations as key drivers. Ferrari upgraded its 2024 guidance based on these results. The quarter also saw the inauguration of a new e-building and another victory at the 24 Hours of Le Mans.
Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program, part of a larger Euro 2 billion multi-year initiative announced during the 2022 Capital Markets Day. The current phase, the Fifth Tranche, involves a Euro 250 million share buyback announced on June 28, 2024. From July 22 to July 29, 2024, Ferrari purchased 49,500 common shares on the Euronext Milan (EXM) for a total of Euro 18,885,484.70.
Since the Fifth Tranche began, Ferrari has invested Euro 61,099,908.57 for 157,450 shares on EXM and USD 699,921.73 for 1,627 shares on NYSE. As of July 29, 2024, Ferrari held 14,324,743 treasury shares, representing 5.57% of its total issued share capital. The company has purchased 3,500,639 shares worth Euro 984,488,773.30 since the program's inception on July 1, 2022.
Ferrari N.V. (NYSE/EXM: RACE) has reported on its ongoing share buyback program, part of a larger Euro 2 billion multi-year initiative announced during the 2022 Capital Markets Day. From July 15-19, 2024, Ferrari purchased 36,950 common shares on the Euronext Milan (EXM) for a total of Euro 14,403,960.96, with an average price per share of Euro 389.8230.
Since the announcement of the Fifth Tranche, Ferrari has invested Euro 42,214,423.87 for 107,950 shares on EXM and USD 699,921.73 for 1,627 shares on NYSE. As of July 19, 2024, Ferrari held 14,275,243 treasury shares, representing 5.55% of its total issued share capital. The company has purchased a total of 3,451,139 shares worth Euro 965,603,288.60 since the program's inception on July 1, 2022.
Ferrari N.V. (NYSE/EXM: RACE) has announced the release date for its second quarter 2024 financial results. The results will be unveiled on Thursday, August 1, 2024, followed by a live audio webcast and conference call at 2:00 p.m. BST / 3:00 p.m. CEST / 9:00 a.m. EDT. Investors and interested parties can access the presentation details through Ferrari's corporate website in the Investors section. Advance registration is required for the conference call. For those unable to attend the live session, a replay will be available on Ferrari's website for two weeks after the event.
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