Ferrari N.V.: Periodic Report on the Buyback Program
March 25, 2024 at 01:06 pm EDT
Share
Maranello (Italy), March 25, 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)
(€)
(€)
($)
($)
(€)*
(€)*
(€)*
18/03/2024
3,793
391.7792
1,486,018.51
3,499
428.6560
1,499,867.34
1,377,035.75
7,292
392.6295
2,863,054.26
19/03/2024
3,749
395.7620
1,483,711.74
-
-
-
-
3,749
395.7620
1,483,711.74
20/03/2024
3,732
398.2876
1,486,409.32
3,695
432.9185
1,599,633.86
1,475,132.66
7,427
398.7535
2,961,541.98
21/03/2024
3,783
397.4562
1,503,576.80
3,698
432.5742
1,599,659.39
1,466,635.55
7,481
397.0341
2,970,212.35
22/03/2024
3,730
399.3821
1,489,695.23
-
-
-
-
3,730
399.3821
1,489,695.23
18,787
396.5195
7,449,411.60
10,892
431.4323
4,699,160.59
4,318,803.96
29,679
396.5166
11,768,215.56
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 March 22, 2024, the total invested consideration has been:
Euro 151,771,919.93 for No. 447,608 common shares purchased on the EXM
USD 45,192,799.40 (Euro 41,509,321.16*) for No. 118,995 common shares purchased on the NYSE.
As of March 22, 2024, the Company held in treasury No. 13,783,555 common shares equal to 5.36% 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.
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 March 22, 2024, the Company has purchased a total of 2,936,076 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 766,025,767.24.
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%).