$RACE
Maranello (Italy), August 1, 2022 – Ferrari N.V. (NYSE/EXM:RACE) informs that the Company has purchased, under the Euro 150 million share buyback program announced on June 30, 2022, as the initial 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 “First Tranche”), the additional common shares – reported in aggregate form, on a daily basis – on the Euronext Milan (EXM) as follows:
| Trading Date (dd/mm/yyyy) | Stock Exchange | Number of common shares purchased | Average price per share excluding fees (€) | Consideration excluding fees (€) |
| 25/07/2022 | EXM | 6,432 | 198.2654 | 1,275,243.05 |
| 26/07/2022 | EXM | 6,520 | 195.6860 | 1,275,872.72 |
| 27/07/2022 | EXM | 6,530 | 195.3205 | 1,275,442.87 |
| 28/07/2022 | EXM | 6,403 | 199.1594 | 1,275,217.64 |
| 29/07/2022 | EXM | 6,220 | 205.4143 | 1,277,676.95 |
| Total | – | 32,105 | 198.7059 | 6,379,453.22 |
Since the announcement of such First Tranche till July 29, 2022, the total invested consideration has been:- ADVERTISEMENT -https://s.yimg.com/rq/darla/4-10-1/html/r-sf-flx.html
- Euro 26,907,842.73 for No. 140,859 common shares purchased on the EXM
As of July 29, 2022, the Company held in treasury No. 11,205,969 common shares equal to 4.36% 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.
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).
Attachment
Ferrari is The Aristocrat of the automotive sector.
Ferrari is 1 of the most recognizable brands in the world, even becoming the world’s strongest luxury brand in Y 2021, according to Brand Finance. Its Brand Strength Index scored 93.9 pts out of 100 and has a brand strength of AAA+.
RACE is trading a 210.00 with a consensus of 215.36
Ferrari trades at a 63%+ premium to luxury brands, but at a discount to leader, Hermes, as it has more opportunity to grow via: new customers, new segments and geographically in China & Asia-Pac with its world renowned brand and a 12+ month customer orderbook.
Have a prosperous weekend, Keep the Faith!
