Ferrari's (NYSE:RACE) Periodic Report on the Buyback Program
Maranello (Italy), May 9, 2022 – Ferrari NV (NYSE:RACE) informs that the Company has purchased, under the sixth 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) as follows:
Date
(dd/mm/yyyy)
Stock Exchange
Number of common shares purchased
Average price per share
excluding fees
(€)
Consideration
excluding fees
(€)
02/05/2022
EXM
9,167
199.2871
1,826,865.25
04/05/2022
EXM
20,800
195.7968
4,072,572.75
05/05/2022
EXM
4,721
194.8128
919,711.15
06/05/2022
EXM
62,633
187.2048
11,725,195.30
Total
-
97,321
190.5482
18,544,344.45
(*) 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 6, 2022, the total invested consideration has been:
Euro 80,515,495.25 for No. 420,639 common shares purchased on the EXM
USD 9,990,538.84 (Euro 9,133,362.89*) for No. 52,571 common shares purchased on the NYSE.
As of May 6, 2022, the Company held in treasury No. 10,901,415 common shares equal to 4.24% 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 6, 2022, the Company has purchased a total of 5,781,697 own common shares on EXM and NYSE, excluding transactions for Sell to Cover, for a total consideration of Euro 893,069,424.69.
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).
Attachment
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+.
Ferrari trades at a 62% 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.
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