Table of Contents:
Ferrari’s share repurchase plan
Ferrari recently announced the purchase of 18,671 common shares on the New York Stock Exchange (NYSE) between 13 and 20 October. These transactions were carried out at an average price of 433.7866 euros per share, for a total value of 58,668.37 euros. This purchase is part of a share repurchase program, part of a larger strategy that involves an investment of 2 billion euros to be completed by 2026
.
Significant investments and results obtained
During this fifth tranche of the program, until October 20, Ferrari invested a total of 199,999,033.02 euros for the purchase of 484,498 ordinary shares on the EXM. In parallel, 116,344 common shares worth 53,551,897.74 USD were purchased on the NYSE. These investments demonstrate the company’s commitment to strengthening its market position and returning value to shareholders
.
The current situation of own shares
As of October 20, Ferrari owned a total of 14,765,168 own shares, representing 5.75% of the company’s share capital. From July 1, 2022 to October 20, the company repurchased a total of 3,942,404 ordinary shares on the EXM and NYSE markets, for an equivalent value of 1,171,406,136.74 euros. These data highlight a long-term strategy aimed at stabilizing and increasing the value of Ferrari shares, in an increasingly competitive market environment
.
The challenges of the automotive market
The automotive sector is facing significant challenges, including the transition to electric vehicles and increasing competition, especially from Chinese manufacturers. These factors have led to a stagnation in global vehicle production. However, Ferrari continues to invest in its future, trying to adapt to new market dynamics and maintaining a solid financial position through the repurchase of shares
.
