Ferrari N.V.: Periodic Report on the Buyback Program
June 17, 2024 at 06:24 pm IST
Share
Maranello (Italy), June 17, 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)
(€)
(€)
($)
($)
(€)*
(€)*
(€)*
10/06/2024
3,842
382.8325
1,470,842.47
7,251
413.6161
2,999,130.34
2,788,332.41
11,093
383.9516
4,259,174.88
11/06/2024
3,872
383.6345
1,485,432.78
7,295
411.1127
2,999,067.15
2,795,029.96
11,167
383.3136
4,280,462.74
12/06/2024
3,802
389.5092
1,480,913.98
-
-
-
-
3,802
389.5092
1,480,913.98
13/06/2024
3,855
387.8665
1,495,225.36
5,991
417.2153
2,499,536.86
2,317,819.79
9,846
387.2684
3,813,045.15
14/06/2024
3,918
380.7163
1,491,646.46
-
-
-
-
3,918
380.7163
1,491,646.46
19,289
384.8857
7,424,061.05
20,537
413.7768
8,497,734.35
7,901,182.16
39,826
384.8050
15,325,243.21
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 June 14, 2024, the total invested consideration has been:
Euro 238,088,203.10 for No. 670,642 common shares purchased on the EXM
USD 107,883,427.15 (Euro 99,353,509.99*) for No. 269,191 common shares purchased on the NYSE.
As of June 14, 2024, the Company held in treasury No. 14,133,410 common shares equal to 5.50% 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 June 14, 2024, the Company has purchased a total of 3,309,306 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 910,186,239.21.
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%).