Ferrari N.v.: Periodic Report on the Buyback Program
March 06, 2023 at 08:13 am EST
Share
Maranello (Italy), March 6, 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)
(€)
(€)
($)
($)
(€)*
(€)*
(€)*
27/02/2023
4,500
246.4170
1,108,876.50
-
-
-
-
4,500
246.4170
1,108,876.50
28/02/2023
4,530
244.5515
1,107,818.30
3,203
261.0709
836,210.09
787,465.95
7,733
245.0904
1,895,284.25
01/03/2023
4,450
248.6869
1,106,656.71
-
-
-
-
4,450
248.6869
1,106,656.71
02/03/2023
4,475
247.4585
1,107,376.79
-
-
-
-
4,475
247.4585
1,107,376.79
03/03/2023
4,350
254.4615
1,106,907.53
-
-
-
-
4,350
254.4615
1,106,907.53
22,305
248.2688
5,537,635.81
3,203
261.0709
836,210.09
787,465.95
25,508
247.9654
6,325,101.76
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 3, 2023, the total invested consideration has been:
Euro 73,632,884.97 for No. 329,828 common shares purchased on the EXM
USD 12,091,580.73 (Euro 11,395,509.91*) for No. 52,750 common shares purchased on the NYSE.
As of March 3, 2023, the Company held in treasury No. 12,210,207 common shares equal to 4.75% 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 3, 2023, the Company has purchased a total of 1,156,315 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 235,754,074.59.
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%).