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FERRARI N.V.

(RACE)
  Report
Delayed Nyse  -  04:00:02 2023-02-03 pm EST
260.04 USD   -2.05%
02/03Mib down; Pirelli ends bullish
AN
02/03UBS Adjusts Ferrari's Price Target to $330 From $274, Maintains Buy Rating
MT
02/03Credit Suisse Boosts Ferrari's PT to $310 From $290 After Higher-Than-Expected Q4 Results, Keeps Outperform Rating
MT
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Ferrari N.v.: Periodic Report on the Buyback Program

11/28/2022 | 06:59am EST

Maranello (Italy), November 28, 2022 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) 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) and on the New York Stock Exchange (NYSE) as follows:

 EXMNYSETotal
TradingNumber of common shares purchasedAverage price per shareConsideration excluding feesNumber of common shares purchasedAverage price per shareConsideration excluding feesConsideration excluding feesNumber of common shares purchasedAverage price per shareConsideration excluding fees
Dateexcluding fees excluding fees  excluding fees 
(d/m/y)(€)(€)($)($)(€)*(€)*(€)*
        
21/11/20222,335208.7396487,406.974,864214.60461,043,836.771,018,774.917,199209.22101,506,181.88
22/11/20222,340208.2414487,284.883,827216.4469828,342.29806,251.016,167209.75121,293,535.89
23/11/20222,330209.2521487,557.399,100217.55501,979,750.501,917,433.9011,430210.41042,404,991.29
24/11/20222,315210.5038487,316.30----2,315210.5038487,316.30
25/11/20222,315210.7490487,883.94----2,315210.7490487,883.94
 11,635209.49292,437,449.4817,791216.51003,851,929.563,742,459.8229,426210.01536,179,909.29
Total
 

(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase

Since the announcement of such First Tranche till November 25, 2022, the total invested consideration has been:

  • Euro 118,537,528.12 for No. 611,902 common shares purchased on the EXM
  • USD 27,667,433.56 (Euro 27,716,900.49*) for No. 140,507 common shares purchased on the NYSE.

As of November 25, 2022, the Company held in treasury No. 11,817,519 common shares equal to 4.60% 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).

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Analyst Recommendations on FERRARI N.V.
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Financials
Sales 2022 4 998 M 5 424 M 5 424 M
Net income 2022 932 M 1 011 M 1 011 M
Net Debt 2022 1 366 M 1 482 M 1 482 M
P/E ratio 2022 47,0x
Yield 2022 0,60%
Capitalization 43 571 M 47 283 M 47 283 M
EV / Sales 2022 8,99x
EV / Sales 2023 7,86x
Nbr of Employees -
Free-Float 48,4%
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Technical analysis trends FERRARI N.V.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 239,63 €
Average target price 257,25 €
Spread / Average Target 7,36%
EPS Revisions
Managers and Directors
Benedetto Vigna Chief Executive Officer & Executive Director
Antonio Picca Piccon Chief Financial Officer
John Jacob Philip Elkann Executive Chairman
Davide Abate Chief Technology & Infrastructures Officer
Ernesto Lasalandra Chief Research & Development Officer
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