Ferretti Group values at the Cannes Yachting Festival
Ferretti Group values at the Cannes Yachting Festival
Ferretti Group reports outstanding numbers, important new products and major projects. These were the main take-outs from the traditional press conference held on the opening day of the Cannes Yachting Festival, the exclusive European boat show that each year attracts owners and enthusiasts from around the globe.
To this year’s event, the Group has brought a breathtaking fleet of 20 magnificent yachts, including five world premieres for the Riva, Wally, Pershing and Ferretti Yachts brands. 2023 is a particularly important year for Ferretti Group which, after closing the 2022 financial year with excellent results, completed the dual listing of its ordinary shares on Euronext Milan, after their debut last year on the Hong Kong stock
exchange. As a result, over 50% of the share capital is traded in the market, making Ferretti Group a public company backed by Italian and international investors.
This is unique on today’s market and has enabled the Group to continue to deliver outstanding performance: in the first half of 2023, the company reported revenues of €580.8 million (+8.6% compared to the first half of 2022), a margin of 14.7% (+1.2%), a net financial position equivalent to €320 million in cash, and order intake of €573 million in the sixmonth period. As a result, the order backlog at June 30 increased to €1.410 billion, a rise of about 15.8% on June 30, 2022 (when it stood at €1.2 billion).
The Group isn’t only in excellent financial shape in 2023, because this is also a year of major new developments in terms of products and production capacity, with a 20% increase in global production surface area as a result of recent upgrades and acquisitions (355.4 thousand square metres at the end of 2022 vs 425.4 thousand in the first half of 2023).
These expansions will allow for a further push at product level: after the 25 new models launched in the three-year period from 2020 to 2022, the ambitious target for the new 2023-2025 three-year period is over 20 boats of larger sizes than in the previous three-year period, in line with market trends. Product strategy guidelines focus on research into alternative, sustainable materials and fully embrace the process of carbon footprint reduction, which in practice translates into the implementation of energy efficiency solutions and an across-the-board reduction in onboard consumption both when under way and at anchor.
The Cannes Yachting Festival is also an opportunity to present the Group’s world premieres: Riva 82’ Diva, the flybridge with endless outdoor space; Pershing GTX116 for a new dimension of sporty elegance; Ferretti Yachts 1000 SkyDeck, newly styled for quintessential wellbeing; Ferretti Yachts INFYNITO 90, the new INFYNITO range model that offers a yachting experience based on contact with the surrounding environment in a sustainable, sophisticated and customizable dimension.
Also making its international debut is the latest crossover spaceship in the wallywhy range, the wallywhy150 presented at the Venice Boat Show. Wally also presents the new wallypower50 and wallypower50X projects: the natural link between the wallytender and wallypower ranges, combining utility with comfort, performance, style and function. In addition, Wally introduces the design for a new sailing yacht, a 51-foot pure racer: the wallyrocket51.
“These important numbers come with great responsibility and immense satisfaction. Year after year we continue to report double-digit growth with record order volumes, and then there all the yacht lovers who have come to admire our boats here at Cannes too. The interest and confidence shown in Ferretti Group deserve our extraordinary commitment to production capacity in return: not only new models, but new ranges that will set the future agenda in the yacht industry,” said Ferretti Group CEO Alberto Galassi. “Growth also means continuing to invest in new shipyards and upgrading our existing sites, so that both production processes and final products are increasingly aligned with sustainability standards. This is a long-standing commitment that goes hand in hand with our determination to produce ever more incredible and desirable boats, like those we are showcasing here at the Cannes Yachting Festival.”
As usual, the Group is joined at the event by luxury industry partners offering guests and visitors a packed programme of events. Range Rover is confirmed as official automotive partner and Flexjet as private aviation provider, followed by Frette, Fornasetti, Roda, Culti, Venini and Perennials. The elegant outdoor decor and furnishings are by Ethimo and Roda. The numerous Italian partners include Dolce & Gabbana for tailor-made staff uniforms, Lavazza with the brand’s latest selection of coffee blends, and La Scolca and Veuve Clicquot offering quality wines and champagnes.
