Ferrari Continues Share Buyback Program
Maranello, Italy – October 21, 2024
Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) has announced the purchase of additional common shares under its Euro 250 million share buyback program, marking the fifth tranche of a multi-year share buyback program. The Company is on track to execute approximately Euro 2 billion in buybacks by 2026, as outlined during the 2022 Capital Markets Day.
On June 28, 2024, Ferrari unveiled its Euro 250 million share buyback program, which forms part of a larger initiative to repurchase shares totaling Euro 2 billion by 2026. The latest purchase, known as the Fifth Tranche, involves acquiring common shares on the Euronext Milan (EXM) on a daily basis.
This strategic move by Ferrari is aimed at optimizing its capital structure and returning value to shareholders. By repurchasing shares, the Company can enhance shareholder value and demonstrate confidence in its long-term growth prospects.
Emphasizing its commitment to creating value for investors, Ferrari’s buyback program aligns with its financial objectives and reinforces its position as a leading luxury automotive brand.
How Will This Affect Me?
As a shareholder of Ferrari, you may benefit from the share buyback program through a potential increase in stock price and earnings per share. The buybacks can enhance the overall value of your investment and signal the Company’s confidence in its future performance.
How Will This Affect the World?
Ferrari’s share buyback program reflects a growing trend among companies to optimize their capital structures and enhance shareholder value. By repurchasing shares, Ferrari is taking proactive steps to strengthen its financial position and demonstrate a commitment to driving long-term growth.
Conclusion
Ferrari’s continued share buyback program underscores its dedication to creating value for shareholders and building a solid foundation for future success. The Company’s strategic approach aligns with its financial objectives and reaffirms its position as a leading player in the luxury automotive sector.
