Ferrari shares, RACE share prices on the Stock Exchange

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ISIN code: NL0011585146
Sector: Durable consumer goods
Industry: Motor vehicles

Le actions of Ferrari are listed on the Italian market on the MTA index with the ticker RACE.

View the stock's listing history on the MTA index

Company Description

Ferrari SpA is an Italian car manufacturer founded by Enzo Ferrari in 1947. Ferrari is one of the world's leading luxury brands and deals with design, manufacture and sale of high-performance luxury sports cars. It has its own racing department that runs in the major car championships including Formula One where it is the most successful team.

Its headquarters are in Maranello in the province of Modena.

Ferrari has a great tradition in building supercars and has always stood out for its style and its famous "Ferrari red" colour.

The brand is among the best known and most influential brands in the world. The official symbol is a prancing Horse, derived from the one used during the First World War by the Italian aviator Francesco Baracca. The prancing horse is a registered trademark of Ferrari.

The Ferrari brand is a symbol of uniqueness, innovation, cutting-edge sporting performance and Italian design.

Ferrari is part of the Fiat group since 1969 when the Agnelli family came to the rescue of Enzo Ferrari and the difficulties arising from the feud with Henry Ford II.

In 2013, it was incorporated into the Dutch company New Business Netherlands N.V, being renamed Ferrari NV. On 21 October 2015, 10% of the 90% of Ferrari NV owned by FCA is listed in New York at an initial IPO price of $52.

Ferrari has been part of the group since 2016 Exor and is listed on the Italian Stock Exchange. It was spun off from FCA (a group born from the merger of the FIAT group with the US Chrysler Group) through the assignment of one Ferrari share for every 10 FCA shares held by shareholders at an initial price of 43,44 euros.

Ferrari's shares are therefore listed on both the NYSE and the FTSE MIB index of the Milan Stock Exchange under the ticker RACE.

The current president is John Elkann while the new managing director is Benedetto Vigna.

I main shareholders of Ferrari are:

• Exor NV 24,05%
• Piero Ferrari 10,23%
• T. Rove Price Associates Inc. 4,33%
• BlackRock Inc. 3,85%

The rest is given by the floating market.

Means shareholder agreement Exor and Piero Ferrari have an agreement that allows them to control 51,05% of the voting rights.

In December 2020, Ferrari shares reached an all-time high, trading at around 186 euros.

Currently the shares have a value of 165,90 euros.

Economic and financial analysis of the company

Enzo Ferrari takes his first steps in 1929 by founding the Scuderia Ferrari, the racing department of the company.

The official symbol of Ferrari is a prancing horse on a yellow background. The little horse derives from the one used by the aviator Francesco Barreca. The symbol was given personally by the aviator's mother as a lucky charm to Enzo Ferrari in 1923. The yellow background, on the other hand, was chosen by Enzo Ferrari in reference to the colors of the coat of arms of the city of Modena.

After the Second World War, on March 12, 1947 Enzo Ferrari officially founded the Ferrari car brand. The first car to bear this name was the 125S.

Scuderia Ferrari concentrated on the newly established Formula 1 world championship. The debut took place in 1950. To date, it is the most titled team in the event.

Ferrari achieved great results in sport but still fell into a financial crisis. In this period Henry Ford II, owner of the Ford group, tried to buy the company but the negotiation stalled due to the claims of Enzo Ferrari.

In 1965 Fiat announced the collaboration with Ferrari with the aim of implementing a common program for the construction of sports engines, which decreed the birth of the Dino brand.

From 1969 Ferrari became part of the Fiat Group, while maintaining its autonomy.

With the death of Enzo Ferrari in 1988, the share package became 90% of Fiat. The rest of the package instead passed to the son Piero Ferrari.

In November 1991 he was appointed president of Ferrari, Luca Cordero di Montezemolo, former sports director of the racing department from 1974 to 1977. Montezemolo was president of the company until October 2014 when Sergio Marchionne was appointed in his place. Marchionne remained in office for four years until his death in July 2018. Since then the president has been John Elkann.

In 2006 Fiat sold 5% of the shares to a financial company in the United Arab Emirates, la Mubadala. In Abu Dhabi, Mubadala also promoted the construction of the Ferrari World, the largest theme park in the world. In 2010, the Fiat Group regained possession of these shares.

In 2013 Ferrari merged with New Business Netherlands NV and was renamed Ferrari NV. In January 2016, Ferrari NV was spun off from FCA, becoming part of the Exor group.

On March 9, 2016, Ferrari issued its first bond in history, raising around €2,7 billion, nearly six times the value of the offering. This 500 million euro bond, with a seven-year term maturing on March 23, 2023, has a fixed annual coupon of 1,5% and a yield of 1,656%, having been issued at 98,977% of the nominal value.

Turnover in 2019 was 3,766 billion euros with a net profit of 625 million.