FERRARI N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM
March 13, 2023 at 12:21 pm EDT
Share
Maranello (Italy), March 13, 2023 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 200 million share buyback program announced on December 1, 2022, as the second 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 “Second 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)
(€)
(€)
($)
($)
(€)*
(€)*
(€)*
06/03/2023
4,335
255.4411
1,107,337.17
-
-
-
-
4,335
255.4411
1,107,337.17
07/03/2023
4,315
256.5283
1,106,919.61
-
-
-
-
4,315
256.5283
1,106,919.61
08/03/2023
4,340
255.0582
1,106,952.59
-
-
-
-
4,340
255.0582
1,106,952.59
09/03/2023
4,380
252.8453
1,107,462.41
6,276
265.3567
1,665,378.65
1,577,959.68
10,656
252.0103
2,685,422.09
10/03/2023
4,450
248.7218
1,106,812.01
9,689
261.7871
2,536,455.21
2,396,046.87
14,139
247.7445
3,502,858.88
21,820
253.6885
5,535,483.79
15,965
263.1903
4,201,833.86
3,974,006.55
37,785
251.6737
9,509,490.34
Total
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
Since the announcement of such Second Tranche till March 10, 2023, the total invested consideration has been:
Euro 79,168,368.77 for No. 351,648 common shares purchased on the EXM
USD 16,293,414.59 (Euro 15,369,516.46*) for No. 68,715 common shares purchased on the NYSE.
As of March 10, 2023, the Company held in treasury No. 12,247,992 common shares equal to 4.77% 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 July 1, 2022 until March 10, 2023, the Company has purchased a total of 1,194,100 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 245,263,564.94.
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).
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%).