Ferrari N.V.: Periodic Report on the Buyback Program
June 03, 2024 at 08:24 pm IST
Share
Maranello (Italy), June 3, 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)
(€)
(€)
($)
($)
(€)*
(€)*
(€)*
27/05/2024
3,798
385.7164
1,464,950.89
-
-
-
-
3,798
385.7164
1,464,950.89
28/05/2024
3,917
381.6314
1,494,850.19
10,918
412.0821
4,499,112.37
4,134,453.56
14,835
379.4610
5,629,303.75
29/05/2024
3,957
376.0395
1,487,988.30
8,612
406.3033
3,499,084.02
3,222,882.95
12,569
374.8008
4,710,871.25
30/05/2024
3,938
376.0163
1,480,752.19
-
-
-
-
3,938
376.0163
1,480,752.19
31/05/2024
3,876
376.0987
1,457,758.56
-
-
-
-
3,876
376.0987
1,457,758.56
19,486
379.0568
7,386,300.13
19,530
409.5339
7,998,196.39
7,357,336.51
39,016
377.8869
14,743,636.64
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 31, 2024, the total invested consideration has been:
Euro 223,256,895.83 for No. 631,960 common shares purchased on the EXM
USD 95,386,719.05 (Euro 87,763,918.17*) for No. 238,857 common shares purchased on the NYSE.
As of May 31, 2024, the Company held in treasury No. 14,064,394 common shares equal to 5.47% 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 31, 2024, the Company has purchased a total of 3,240,290 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 883,765,340.12.
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%).