Ferrari announces share buyback program details on September 10, 2024

On September 10, 2024, Ferrari N.V. announced the completion of the fifth tranche of its multi-year share buyback program, which was initially revealed on June 28, 2024. This program is part of a larger initiative to repurchase approximately Euro 2 billion worth of shares by 2026, as outlined during the 2022 Capital Markets Day. The company has reported significant activity in the buyback program, with a total of 3,575,453 shares purchased since its inception on July 1, 2022, amounting to a total investment of Euro 1,017,141,438.41. As of September 9, 2024, Ferrari has acquired 215,050 common shares on the Euronext Milan and 18,841 shares on the New York Stock Exchange, with a total investment of Euro 86,272,640.26 and USD 8,998,310.03 respectively. The average price per share varied across different trading days, reflecting market conditions. The company currently holds 14,399,557 shares in treasury, representing 5.60% of its total issued share capital. The buyback program aims to enhance shareholder value and reflects Ferrari's commitment to returning capital to its investors. The transactions are reported daily and are available for public viewing on Ferrari's corporate website. This transparency is intended to maintain investor confidence and provide clarity on the company's financial strategies. Overall, the ongoing buyback initiative underscores Ferrari's robust financial health and strategic focus on optimizing its capital structure while rewarding shareholders. The company continues to navigate market dynamics effectively, positioning itself for future growth and stability.