Home Shayne Heffernan on InvestmentsEducation Ferrari’s (NYSE:RACE) Periodic Report on the Buyback Program

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

by Paul Ebeling

#Ferrari #stock #buyback

$RACE

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:



Trading
Date
(dd/mm/yyyy)


Stock Exchange


Number of common shares purchased


Average price per share
excluding fees
(€)


Consideration excluding fees



(€)
02/05/2022EXM9,167199.28711,826,865.25
04/05/2022EXM20,800195.79684,072,572.75
05/05/2022EXM4,721194.8128919,711.15
06/05/2022EXM62,633187.204811,725,195.30


Total


97,321190.548218,544,344.45

(*) 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+.

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 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.

The Q-1 earnings report

Have a prosperous day, Keep the Faith!

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