Ferrari N.V. (RACE) Bundle
A Brief History of Ferrari N.V. (RACE)
Founding and Early Years
Founding and Early Years
Founded by Enzo Ferrari in 1939, Ferrari was initially established as Auto Avio Costruzioni in Modena, Italy. The first car, the 125 S, was produced in 1947, marking the official beginning of the Ferrari brand. In 1961, the company was incorporated as Ferrari S.p.A.
Public Offerings and Stock Market Presence
Ferrari N.V. went public on NASDAQ under the ticker symbol RACE on October 21, 2015. The initial public offering (IPO) price was set at $52 per share, raising approximately $893 million.
As of October 2023, Ferrari's stock price is approximately $305.05, reflecting an increase since its IPO.
Production and Sales Growth
In recent years, Ferrari has seen robust growth in production and sales. In 2022, Ferrari delivered 13,221 vehicles, representing a 7% increase compared to 2021.
| Year | Units Delivered | Revenue (€ Million) |
|---|---|---|
| 2020 | 9,119 | 3,461 |
| 2021 | 12,425 | 4,018 |
| 2022 | 13,221 | 4,640 |
Financial Performance
Ferrari reported a net income of €837 million in 2022, with an EBITDA of €1.68 billion. The company achieved a gross margin of approximately 49.5% during the same year.
New Models and Innovations
The introduction of hybrid models such as the Ferrari SF90 Stradale in 2019 reflects Ferrari's commitment to innovation. In 2022, 16% of total sales came from hybrid models.
Formula 1 Involvement
Ferrari has been a prominent participant in Formula 1 since its inception, achieving a record 16 Constructors' Championships and 15 Drivers' Championships as of 2023.
| Championship | Year(s) | Drivers' Championships |
|---|---|---|
| Constructors' Championships | 1961-1964, 1968-1970, 1975, 1977, 1979, 1982-1984, 1999, 2000-2004, 2007, 2008 | 16 |
| Drivers' Championships | 1961, 1964, 1975, 1977, 1979, 2000, 2001, 2002, 2003, 2004, 2007 | 15 |
Recent Developments and Future Outlook
Ferrari continues to expand its product lineup with plans for electric models set to debut in 2025. In 2022, the company announced a €2.5 billion investment over the next five years in electric vehicle development and sustainability initiatives.
- Investment in Electric Vehicles: €2.5 billion over five years.
- Projected Hybrid Sales: Expected to represent 40% of total sales by 2025.
Conclusion
Ferrari N.V. remains a leader in the luxury sports car segment, continually innovating while maintaining its storied heritage.
A Who Owns Ferrari N.V. (RACE)
Shareholder Structure
Shareholder Structure
The ownership of Ferrari N.V. (RACE) is divided among various shareholders, prominently featuring institutional investors, individual investors, and significant affiliated organizations. As of October 2023, the following is a detailed overview of the major shareholders:
| Shareholder | Ownership Percentage | Number of Shares | Type of Shareholder |
|---|---|---|---|
| Exor N.V. | 23.6% | 85,000,000 | Institutional |
| Pirelli & C. S.p.A. | 1.0% | 3,600,000 | Institutional |
| BlackRock, Inc. | 6.2% | 22,000,000 | Institutional |
| The Vanguard Group, Inc. | 4.3% | 15,200,000 | Institutional |
| Free Float | 64.9% | 232,000,000 | Public/Other Investors |
Exor N.V. Ownership
Exor N.V. is the largest shareholder of Ferrari N.V., holding a significant stake in the company. Exor is the investment arm of the Agnelli family, which has historical ties to the automotive and industrial sectors. As of the latest reports:
- Number of Shares: 85,000,000
- Ownership Percentage: 23.6%
- Market Value of Shares: Approximately $10.2 billion
Institutional Investors
Institutional investors hold a substantial percentage of Ferrari’s shares, contributing to the company's market stability and liquidity. The following are key institutional shareholders:
| Institution | Ownership Percentage | Number of Shares |
|---|---|---|
| BlackRock, Inc. | 6.2% | 22,000,000 |
| The Vanguard Group, Inc. | 4.3% | 15,200,000 |
| State Street Corporation | 3.7% | 13,200,000 |
| Other Institutional Investors | 17.5% | 62,000,000 |
Public Shareholders
The public shareholding, or free float, encompasses the remaining shares of Ferrari N.V., allowing retail investors and smaller institutional entities to hold stakes in the company. Specific statistics include:
- Free Float Percentage: 64.9%
- Number of Shares: 232,000,000
- Market Capitalization: Approximately $43 billion
Recent Share Performance
Ferrari N.V. has experienced fluctuations in its stock performance, reflecting broader market trends and specific company developments. Recent metrics indicate:
- Current Share Price: $180
- 52-Week High: $240
- 52-Week Low: $168
- Year-to-Date Performance: +10%
Conclusion of Ownership Dynamics
The complex ownership structure of Ferrari N.V. demonstrates a blend of institutional dominance and public participation, with key stakeholders influencing corporate governance and strategic direction.
Ferrari N.V. (RACE) Mission Statement
Core Mission Statement
Core Mission Statement
The mission of Ferrari N.V. is to manufacture the world's most desirable high-performance sports cars and to race in the most prestigious competitions, thus embodying the essence of Italian automotive excellence. The company aims to deliver unmatched quality, innovation, and performance in its vehicles.
Key Components of the Mission Statement
- Performance: Committed to producing high-performance sports cars with advanced engineering.
- Innovation: Focusing on cutting-edge technology and design.
- Heritage: Upholding a rich automotive culture rooted in history and tradition.
- Exclusivity: Striving to maintain the brand's exclusivity and luxury appeal.
Financial Performance Indicators
Ferrari N.V. reported a revenue of €4.44 billion in 2022, an increase from €3.74 billion in 2021. The net profit for the year 2022 was €1.03 billion with an operating margin of 27.88%.
Production and Sales Numbers
In 2022, Ferrari produced 13,221 cars, with the following sales distribution:
| Model | Units Sold |
|---|---|
| Portofino M | 2,851 |
| 488 GTB | 2,745 |
| F8 Tributo | 3,052 |
| SF90 Stradale | 1,071 |
| Roma | 1,150 |
| Other Models | 2,352 |
Market Strategy
Ferrari's market strategy is focused on maintaining exclusivity and controlling supply to keep demand high. The target market includes affluent individuals and collectors worldwide, especially in the U.S. and Europe.
Brand Value
In 2022, Ferrari was valued at approximately €8.88 billion, making it one of the most valuable automotive brands globally. The brand’s perception as a symbol of luxury and performance significantly contributes to its financial success.
Sustainability Efforts
Ferrari aims to achieve a reduction of CO2 emissions by 40% by 2030, compared to 2019 levels, through innovations in hybrid and fully electric technologies. The company plans to introduce its first fully electric model in 2025.
Shareholder Information
Ferrari N.V. is publicly traded under the ticker symbol RACE. As of October 2023, the closing stock price was €298.00, with a market capitalization of approximately €56.89 billion. The dividend yield stands at 0.65%.
How Ferrari N.V. (RACE) Works
Company Structure and Ownership
Ferrari N.V. is an Italian luxury sports car manufacturer founded by Enzo Ferrari in 1939. As of 2023, Ferrari is publicly traded on the New York Stock Exchange under the ticker symbol RACE. The ownership structure includes:
- Exor N.V. – Approximately 22.91%
- Public float – Approximately 77.09%
Financial Performance Overview
Ferrari's financial health can be observed in its revenue, net profit, and operating margins. The following table illustrates key financial metrics for the year ending December 31, 2022:
| Metric | 2022 |
|---|---|
| Revenue | €5.18 billion |
| Net Profit | €944 million |
| Operating Margin | 18.2% |
| Units Sold | 13,221 |
Product Portfolio
Ferrari's product lineup includes various models, each contributing to the brand's prestige and financial success. The latest models include:
- Ferrari 296 GTB
- Ferrari F8 Tributo
- Ferrari SF90 Stradale
- Ferrari Roma
| Model | Starting Price (USD) | Engine Type |
|---|---|---|
| Ferrari 296 GTB | $321,400 | V6 Hybrid |
| Ferrari F8 Tributo | $276,000 | V8 Twin-Turbo |
| Ferrari SF90 Stradale | $625,000 | V8 Hybrid |
| Ferrari Roma | $222,000 | V8 Twin-Turbo |
Production and Manufacturing
Ferrari’s manufacturing facility, located in Maranello, Italy, operates under strict quality control and is known for its craftsmanship. The current production capacity is approximately:
- 15,000 vehicles per year
- Handcrafted assembly processes
Research and Development
Ferrari allocates a significant budget for innovation and performance enhancement. In 2022, the R&D expenditure amounted to:
- €302 million
- Approximately 5.8% of total revenue
Market Presence and Strategy
Ferrari maintains a global presence, with strategic markets including Europe, North America, and Asia. Sales distribution as of 2022 is as follows:
| Region | Percentage of Sales |
|---|---|
| Europe | 45% |
| North America | 30% |
| Asia-Pacific | 15% |
| Rest of the World | 10% |
Sustainability Initiatives
Ferrari is committed to reducing its environmental footprint. The main goals include:
- Reducing CO2 emissions by 40% by 2030
- Increasing the use of sustainable materials
Stock Performance
As of October 2023, Ferrari's market capitalization is approximately:
€38 billion
The stock has shown a performance increase of:
20% year-to-date.
Conclusion
Ferrari continues to integrate luxury, performance, and sustainability into its business model, aiming for growth in the competitive automotive landscape.
How Ferrari N.V. (RACE) Makes Money
Automobile Sales
Automobile Sales
Ferrari generates the majority of its revenue from the sale of high-performance sports cars. In 2022, the company reported total shipments of 13,221 vehicles.
| Model | Units Sold (2022) | Average Selling Price (ASP) (€) | Total Revenue (€ million) |
|---|---|---|---|
| Ferrari 488 | 3,000 | 250,000 | 750 |
| Ferrari F8 | 2,500 | 270,000 | 675 |
| Ferrari Roma | 1,500 | 220,000 | 330 |
| Ferrari Portofino | 2,200 | 210,000 | 462 |
| Ferrari SF90 Stradale | 1,000 | 500,000 | 500 |
| Ferrari LaFerrari | 21 | 1,500,000 | 31.5 |
The total revenue from automobile sales in 2022 reached approximately €2.7 billion.
After-Sales Services
After-sales services, including maintenance, repairs, and replacement parts, are significant revenue streams for Ferrari. In 2022, after-sales revenue accounted for €1 billion, representing about 27% of the total revenue.
| After-Sales Segment | Revenue (€ million) |
|---|---|
| Parts Sales | 600 |
| Service Revenue | 400 |
Merchandising
Ferrari also engages in merchandising, selling branded apparel, accessories, and collectibles. In 2022, merchandising generated approximately €300 million in revenue.
| Merchandise Type | Revenue (€ million) |
|---|---|
| Apparel | 180 |
| Accessories | 70 |
| Collectibles | 50 |
Formula 1 and Sponsorship Revenue
Ferrari's participation in Formula 1 racing contributes to its brand prestige and generates additional revenue through sponsorship and prize money. In 2022, Ferrari earned €400 million from Formula 1 activities.
| Revenue Source | Revenue (€ million) |
|---|---|
| Sponsorship Deals | 250 |
| Prize Money | 150 |
Research and Development
Ferrari invests significantly in research and development to enhance performance and sustainability, often integrating advanced technology into its vehicles. In 2022, the company allocated approximately €370 million to R&D.
Financial Performance
Ferrari has shown impressive financial growth over the years. In 2022, the company reported:
| Metric | Value (€ million) |
|---|---|
| Total Revenue | 3.7 billion |
| Net Income | 1 billion |
| EBITDA | 1.5 billion |
| Operating Margin | 27% |
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