FERRARI N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM

Impact · against what's priced in

The share buyback updates for Ferrari are not catalysts as the market has already baked the €3.5 billion program into the current valuation. The execution of the current tranche and the resulting 1.06% treasury holding are purely operational updates to a known strategy.

RACE+0.00

Already priced in

The price assumes

the €3.5 billion share buyback program running through 2030

The report confirms that Ferrari has spent €613 million of its €3.5 billion multi-year budget, which the price already assumes is baked into the share count.

What RACE's price assumes · Sep 1

• RACE
• automobiles
• buyback
• capital allocation
• luxury cars
• share repurchase

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