Ferrari N.V.: Periodic Report on the Buyback Program
May 27, 2024 at 04:32 pm IST
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Maranello (Italy), May 27, 2024 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 350 million share buyback program announced on November 7, 2023, as the fourth tranche of the multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026 in line with the disclosure made during the 2022 Capital Markets Day (the “Fourth Tranche”), the additional common shares - reported in aggregate form, on a daily basis - on the Euronext Milan (EXM) and on the New York Stock Exchange (NYSE) as follows:
EXM
NYSE
Total
Trading
Number of common shares purchased
Average price per share
Consideration excluding fees
Number of common shares purchased
Average price per share
Consideration excluding fees
Consideration excluding fees
Number of common shares purchased
Average price per share
Consideration excluding fees
Date
excluding fees
excluding fees
excluding fees
(d/m/y)
(€)
(€)
($)
($)
(€)*
(€)*
(€)*
20/05/2024
3,821
386.7093
1,477,616.24
13,177
417.3523
5,499,451.26
5,063,485.18
16,998
384.8159
6,541,101.42
21/05/2024
3,862
382.6486
1,477,788.89
9,576
417.6574
3,999,487.26
3,681,413.16
13,438
383.9263
5,159,202.05
22/05/2024
3,845
384.5089
1,478,436.72
9,598
416.7052
3,999,536.51
3,693,016.17
13,443
384.6949
5,171,452.89
23/05/2024
3,856
385.1308
1,485,064.36
9,645
414.6672
3,999,465.14
3,684,784.54
13,501
382.9234
5,169,848.90
24/05/2024
3,855
384.7702
1,483,289.12
-
-
-
-
3,855
384.7702
1,483,289.12
19,239
384.7495
7,402,195.33
41,996
416.6573
17,497,940.17
16,122,699.05
61,235
384.1740
23,524,894.38
Total
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
Since the announcement of such Fourth Tranche till May 24, 2024, the total invested consideration has been:
Euro 215,870,595.69 for No. 612,474 common shares purchased on the EXM
USD 87,388,522.66 (Euro 80,406,581.66*) for No. 219,327 common shares purchased on the NYSE.
As of May 24, 2024, the Company held in treasury No. 14,025,378 common shares equal to 5.46% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.
Since the start of the multi-year share buyback program of approximately Euro 2 billion announced during the 2022 Capital Markets Day, on July 1, 2022, until May 24, 2024, the Company has purchased a total of 3,201,274 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 869,021,703.48.
A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (https://www.ferrari.com/en-EN/corporate/buyback-programs).
For further information: Media Relations tel.: +39 0536 949337 Email: media@ferrari.com
Ferrari N.V. is a holding company organized around 3 areas of activity:
- manufacturing and sale of luxury sports vehicles (85.8% of net sales): 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale, 458 Speciale A, California T and Ferrari FF. The group also provides spare parts;
- manufacturing and sale of car engines (2.1%): Maseratti brand;
- other (12.1%): sponsorship activity, provision of financial services, etc.
Net sales are distributed geographically as follows: Italy (7.4%), the United Kingdom (10.5%), Germany (8.3%), Europe/Middle East/Africa (21.9%), the United States (25.7%), Americas (3.8%), China/Hong Kong/Taiwan (9.8%), Asia/Pacific and Australia (12.6%).