Bloomberg: Consob asks Ferretti for checks on asset values after decline in orders

Consob, the Commissione Nazionale per le Società e la Borsa (Italian Companies and Stock Exchange Commission), has reportedly asked Ferretti SpA to provide a series of clarifications regarding the Group’s assessment of the value of assets recorded on its balance sheet, following the downward revision of its full-year outlook. Consob is Italy’s independent authority responsible for regulating and supervising the financial markets, including oversight of listed companies, market transparency and investor protection. The report comes from Bloomberg, which says it has reviewed a letter sent to Ferretti by the regulator on September 10. According to the US financial news agency, the request specifically concerns the analyses that led Ferretti to conclude that, at the end of the first half, there were no indications of impairment requiring an impairment test.

An impairment test is an accounting procedure used by a company to determine whether the carrying value of certain assets on its balance sheet remains recoverable in light of economic conditions and the outlook for the business. If the recoverable amount is lower than the carrying amount, a write-down would be required, with the corresponding impact on the financial statements. According to Bloomberg, Consob cited the slowdown in orders and the reduction in guidance — the company’s financial and operating forecasts for the year — among the factors to be taken into consideration.

The regulator’s request would not be limited to asset valuations. Bloomberg also reports that Consob asked for an update on order intake, including information on any cancellations, suspensions or delays. At the end of July, Ferretti reported a 27% year-on-year decline in first-half orders, attributing the decrease to intensifying competition and longer decision-making times among customers. CEO Stassi Anastassov had described the situation primarily as a commercial rather than financial issue, pointing to a net cash position of €95 million as of June 30.

A further point in Consob’s request reportedly concerns the Middle East. According to the document reviewed by Bloomberg, the regulator asked Ferretti for information on any distribution agreements in the United Arab Emirates. When announcing its July results, the Group attributed some delays in contract signings in the Middle East to geopolitical tensions. Just a few days ago, during the press conference at the Cannes Yachting Festival 2026, Anastassov said he was not satisfied with the first-half results and identified a commercial recovery in the second half of the year as one of the priorities of the new management.

The US news agency also notes that Ferretti shares have lost around 5% since the beginning of the year, bringing the Group’s market capitalisation to just below €1 billion. Bloomberg added that neither Ferretti nor Consob commented on the report and that the Forlì-based group will have to provide the information requested by the regulator within ten working days of receiving the letter.

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