Home Business Ferrari’s (NYSE:RACE) Periodic Report on its Stock Buyback Program

Ferrari’s (NYSE:RACE) Periodic Report on its Stock Buyback Program

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“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+”-– Paul Ebeling

Maranello (Italy), May 16, 2022 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the 6th tranche of the common share buyback program announced on March 3, 2022 (“Sixth Tranche”), additional common shares – reported in aggregate form, on a daily basis – on 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 feesexcluding feesexcluding fees
(d/m/y)(€)(€)($)($)(€)*(€)*(€)*
09/05/202243,046182.56527,858,701.5519,438191.86643,729,499.083,532,057.0962,484182.298811,390,758.64
10/05/20225,149182.0510937,380.7521,252189.56134,028,556.753,817,089.9626,401180.08684,754,470.71
11/05/202223,955180.39574,321,380.007,043190.67171,342,900.781,272,529.8830,998180.46035,593,909.88
12/05/20221,463179.3079262,327.459,050187.75731,699,203.571,632,593.7410,513180.24551,894,921.19
13/05/202233,340183.10456,104,705.0033,340183.10456,104,705.00
106,953182.178119,484,494.7556,783190.200610,800,160.1810,254,270.68163,736181.626329,738,765.43
Total

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

Since the announcement of the Sixth Tranche of the buyback program dated March 3, 2022 till May 13, 2022, the total invested consideration has been:

  • Euro 99,999,990.00 for No. 527,592 common shares purchased on the EXM (equal to the full amount of the Sixth Tranche to be executed on EXM as announced on March 3, 2022)
  • USD 20,790,699.01 (Euro 19,387,633.57*) for No. 109,354 common shares purchased on the NYSE.

As of May 13, 2022, the Company held in treasury No. 11,065,151 common shares equal to 4.30% 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 January 1, 2019 until May 13, 2022, the Company has purchased a total of 5,945,433 own common shares on EXM and NYSE, excluding transactions for Sell to Cover, for a total consideration of Euro 922,808,190.11.

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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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+.

Our overall technical outlook is still Bullish, all Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November and did the same for Q-4 and F-Y 2020 as reported on 2 February.

Ferrari trades at a 61% 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 day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.