Share Buyback Program at a Glance
Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its ongoing share buyback program. Launched in 2022 with a total budget of approximately Euro 2 billion, the program is unfolding in tranches designed to support a disciplined capital structure and steady shareholder returns. The continued rollout underscores Ferrari’s intent to return capital while keeping financial flexibility intact.
Latest Tranche: What Ferrari Bought
The most recent step is the fifth tranche, allocated at Euro 250 million. As part of this tranche, and through September 9, 2024, the Company repurchased 28,900 common shares at an average price of €436.7305, for a total of approximately Euro 12,621,511.53. The cadence of purchases reflects a methodical approach rather than a one-off action, with execution spread over market days.
Daily Purchases at a Glance
Ferrari reports daily transactions so investors can track progress. On September 2, 2024, for example, the Company bought 4,600 shares at an average price of €445.6153, for a total of about €2,049,830.38. These disclosures show steady participation in the market and make the pace of activity easy to follow.
Treasury Stock on Hand
As of September 9, 2024, Ferrari held 14,399,557 shares in treasury, equal to about 5.60% of the issued share capital, including both ordinary and special voting shares. Holding treasury shares gives the Company room to manage its equity base and, when appropriate, support future corporate actions.
Program to Date: Investments and Pace
Since the buyback program began in July 2022, Ferrari has repurchased a total of 3,575,453 shares across the Milan Stock Exchange and the NYSE. Cumulative spending on these purchases stands at Euro 1,017,141,438.41. The scale and consistency of activity signal confidence in the Company’s long-term value and an ongoing commitment to shareholder returns.
What It Suggests About Performance
Maintaining the buyback program over time suggests a view that the business and its outlook remain resilient. Historically, the stock has shown durability alongside strong sales trends and steady recovery in key markets. While day-to-day prices move, the continued execution of stated objectives has supported investor confidence and the goal of building shareholder equity.
How Ferrari Keeps Investors Informed
Transparency sits at the center of the program. Ferrari provides comprehensive details on the transactions carried out under the buyback program on its corporate website, allowing investors to review timing, volumes, and prices as they are reported. Ready access to this information helps investors make their own decisions with current data in hand.
Looking Ahead
As Ferrari advances through this multi-year initiative, the focus stays on enhancing shareholder value and maintaining financial stability. The continued use of the buyback—alongside disciplined capital allocation—aims to keep the Company well positioned within the luxury automotive space, supported by a well-known brand and loyal customer base.
Frequently Asked Questions
What is the purpose of the share buyback program?
The program reduces the number of outstanding shares, which can increase earnings per share and return capital to shareholders, while giving Ferrari flexibility in managing its capital structure.
How much has Ferrari invested in the buyback program?
From the start of the program through September 9, 2024, Ferrari has invested approximately Euro 1,017,141,438.41.
Where can I find more details about Ferrari's buyback transactions?
Ferrari publishes transaction details on its corporate website under the Buyback Programs section, including dates, volumes, and prices as reported.
What percentage of shares does Ferrari hold in treasury?
As of September 9, 2024, Ferrari holds 14,399,557 treasury shares, representing about 5.60% of the total issued share capital, including ordinary and special voting shares.
How does the buyback program affect Ferrari's stock price?
Buybacks can support the stock by signaling confidence in the business and by reducing the share count. That said, the market price also reflects broader factors beyond the program itself.
