Ferretti's orderbook has risen to 1,4 billion and more than 20 new models are on the way.
For Galassi, "growth also means continuing to invest in new construction sites and in the renovation of our existing ones."
Cannes (France) – Growing financial results, news, and new projects were some of the dominant themes of the usual press conference held by Ferretti Group on the opening day of the Cannes Yachting Festival, the boat show where the company led by Alberto Galassi is present with a fleet of 20 yachts, including 5 world premieres for the Riva, Wally, Pershing, and Ferretti Yachts brands.
In 2023, Ferretti Group completed the dual listing process for its ordinary shares on Euronext Milan, adding the Italian listing to its existing listing on the Hong Kong Stock Exchange. This brings over 50% of the share capital to the market, making Ferretti Group a public company backed by Italian and international investors.
In the first half of 2023, the company achieved revenues of €580,8 million (up 8,6% compared to the first half of 2022), a margin of 14,7% (up 1,2%), a net financial position equivalent to €320 million in cash, and six-month orders totaling €573 million. The order backlog thus rose to €1,410 billion as of June 30, 2023, an increase of approximately 15,8% compared to June 30, 2022 (when it was €1,2 billion).
2023 is also a year of innovation in terms of products and production capacity, with a 20% increase in global surface area, thanks to recent renovations and acquisitions (355,4 thousand square meters at the end of 2022 compared to 425,4 thousand square meters in the first half of 2023). Among the new acquisitions, the San Vitale shipyard in Ravenna, which will be dedicated to the production of Wally, stands out.
The expansions will allow for a further boost in product development: after the 25 new models launched in the three-year period 2020-2022, the ambitious goal for 2023-2025 is to launch over 20 larger vessels than in the previous three-year period, in line with market trends. The product strategy guidelines focus on research into alternative and sustainable materials and the full adoption of a carbon footprint reduction strategy, concretely translated into the implementation of energy efficiency solutions and a general reduction in consumption on board and at sea.
The Cannes Yachting Festival is also an opportunity to present world premieres: in particular, the Riva 82' Diva flybridge; the Pershing GTX116; the new look of the Ferretti Yachts 1000 SkyDeck; and the Ferretti Yachts Infynito 90. Also making its international debut is the latest crossover spaceship in the wallywhy range, the wallywhy150, previously presented at the Venice Boat Show. Wally is also presenting the new wallypower50 and wallypower50X projects at Cannes: "the natural link between the wallytender and wallypower ranges, combining utility and comfort, performance, style and function," explained the shipyard.
In addition, Wally has also unveiled the project of a new sailing model, a pure 51-foot racer: the wallyrocket51.
"With great numbers comes great responsibility and immense satisfaction. We've been enjoying double-digit growth for years now, with record orders. Then there are the countless enthusiasts who, even here in Cannes, admire our boats. The interest and trust shown in Ferretti Group are commendable for the extraordinary production commitment we're putting in: not just new models, but new ranges that will shape the yachting of the future," said Alberto Galassi, CEO of Ferretti Group. "Growth also means continuing to invest in new shipyards and in the renovation of our existing ones, to make both our production processes and final products increasingly compliant with sustainability standards."
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