Ferrari Fuels Investor Confidence with New €250M Share Buyback

MARANELLO, Italy – April 10, 2026 – Ferrari N.V. is doubling down on its commitment to shareholder returns, announcing the immediate launch of a second €250 million share buyback tranche after successfully completing the first phase of its ambitious capital return program. The move signals profound confidence from the Maranello-based automaker in its financial strength and future performance, further solidifying its strategy to deliver substantial value to its investors.

The announcement confirms the completion of the first €250 million tranche, which ran from January 5 to April 9, 2026. During this period, Ferrari repurchased a total of 850,054 common shares on both the Euronext Milan (EXM) and New York Stock Exchange (NYSE) for a total cost of nearly €250 million. This initial step is part of a much larger, multi-year share buyback program of approximately €3.5 billion, which the company expects to execute by 2030, a cornerstone of the strategic plan unveiled during its 2025 Capital Markets Day.

Without missing a beat, the company will commence the second tranche on April 13, 2026, with an expected completion date no later than August 28, 2026. This aggressive timeline underscores the company’s disciplined and proactive approach to capital management.

A Multi-Billion Euro Strategy in Motion

This buyback initiative is not a standalone action but a critical component of a meticulously planned, long-term financial strategy. The €3.5 billion program is one half of a dual-pronged approach to return approximately €7.0 billion to shareholders by the end of the decade. The other half consists of a significantly increased dividend policy, which raised the payout to 40% of adjusted net profit starting with the 2025 results.

The structure of the new tranche demonstrates a strategic approach to market execution. The bulk of the repurchases, up to €200 million, will be conducted on the Euronext Milan through a non-discretionary agreement with a primary financial institution. This arrangement allows the bank to make trading decisions independently of Ferrari, ensuring compliance with market regulations and enabling purchases even during closed periods. An additional mandate for up to €50 million will be executed on the NYSE, where Ferrari will provide purchase instructions, offering flexibility based on market conditions.

This continuous and substantial repurchase activity is a powerful signal. By reducing the number of shares in circulation, buybacks can increase earnings per share (EPS) and enhance the value of remaining shares. For investors, it is a tangible demonstration of management's belief that the company's stock is a valuable investment.

Standing Out in the Luxury Arena

Ferrari's aggressive capital return strategy sets it apart from many of its peers in the ultra-luxury automotive sector. While competitors also focus on brand exclusivity and performance, Ferrari’s explicit, large-scale, and long-term buyback commitment is a notable differentiator. For instance, Porsche AG, another titan of the sports car world, has not engaged in significant share repurchase activity, with its ownership structure more tightly held within the Volkswagen Group and Porsche SE. Information on similar programs from brands like Aston Martin or Lamborghini is less prominent, often absorbed into the broader financial strategies of their parent companies.

This positions Ferrari's buyback program as a strategic tool for competitive advantage in the financial markets. It communicates a message of robust, independent financial health and a direct commitment to shareholder returns that is both clear and substantial. Analyst sentiment reflects this confidence, with many maintaining positive ratings on the stock. Recent reports from firms like Evercore ISI and Jefferies have highlighted Ferrari’s durable pricing power and potential for margin expansion, with the active buyback program seen as a key support for the stock's valuation.

As of April 9, 2026, the company held 17,494,660 common shares in treasury, representing 9.02% of its total issued common shares. This growing treasury stake, acquired within the 10% limit authorized by shareholders in April 2025, not only supports the stock price but also provides the company with significant strategic flexibility.

Aligning the Prancing Horse: From Shareholders to Employees

Beyond enhancing direct shareholder value, the buyback program serves a crucial internal purpose: fostering employee loyalty and aligning interests across the organization. Ferrari has explicitly stated that the repurchased shares may be used to service its equity incentive plans, a move that benefits both employees and existing shareholders.

Ferrari has a history of using equity to motivate its team, from top executives to the factory floor. In early 2024, the company launched a groundbreaking share ownership plan for its more than 5,000 employees in Italy, granting them shares worth up to approximately €2,065. By using treasury shares to fund this and other executive compensation plans, Ferrari avoids the dilutive effect of issuing new stock. This ensures that when employees are rewarded with equity, the value of shares held by public investors is not diminished—in fact, it is often enhanced by the reduced share count.

This creates a virtuous cycle. The company's strong performance generates the cash needed for buybacks. The buybacks support the stock price and provide shares for employee incentive plans. Motivated and invested employees then work to sustain the high performance and innovation that are hallmarks of the Ferrari brand, driving future success. This strategic alignment, from the boardroom to the production line, is a powerful engine for long-term, sustainable growth and a core element of the Prancing Horse's enduring appeal.