Galassi (Ferretti Group) sees market consolidation coming
After an April slowed by concerns about tariffs, the boating industry has regained its footing. Over 30 new models are on the way.
Cannes (France) – In April, announcements about US tariffs ("which at 15% are manageable") did not help the nautical industry, which however found renewed momentum in the following months. Ferretti Group posted good results (despite a slowdown in new orders) and, according to its CEO Alberto Galassi, "the market will move towards consolidation."
The lawyer made this statement to the press on the sidelines of the usual presentation held on the opening day of the Cannes Yachting Festival. "There are those who are poorly positioned, with different costs, and those who produce incorrectly," Galassi said, adding that he has never seen so many opportunities untapped as in the last four months.
During the press conference, commenting on the first-half results, he highlighted in particular the positive net financial position of €101,6 million and zero debt, adding that "the company is ready to invest and make acquisitions. We are in the ideal position for further growth." He sees opportunities to be seized "in services and manufacturing."
The figures for the first half of 2025 show new orders acquired of 467,3 million euros (-9,2%), an order backlog of 1,44 billion (-3,3%), net revenues of 620 million (+1,5%), an adjusted EBITDA of 99,1 million (+2,5%) and a net profit of 43,6 million (-0,9%).
Ferretti Group, which is focusing heavily on its new 100.000-square-meter shipyard in Ravenna, where its new offices will soon open, has promised over 30 new models under its various brands over the next two years. The group's average revenue currently stands at €6 million.
At the Cannes Yachting Festival, Ferretti Group is present with 26 boats, including 7 world premieres for the Ferretti Yachts, Itama, Riva, and Wally brands, joined by the Ferretti Yachts 940 and Pershing GTX70 presented at the last Venice Boat Show.
The Riva brand is highly represented in the premiere fleet, starting with the Aquariva Special, the next evolution of the iconic runabout after 300 units, featuring new stylistic and functional details for an even more authentic cruising experience. Also eagerly awaited is the Riva Cento, the exclusive limited edition of the Rivamare, introducing new onboard solutions for comfort and liveability.
The Riva 58' Capri is the sporty new-generation open yacht that combines modern, sleek lines with interiors featuring innovative deck solutions and a focus on functionality. Completing the lineup is the Riva 112' Dolcevita Super, a yacht characterized by spacious spaces and a sleek profile.
The Ferretti Yachts 800 stands out for the Ferretti Yachts brand, an elegant flybridge with optimized spaces, designed for immersive navigation thanks to panoramic views and a layout designed to ensure maximum privacy.
The Itama 54 represents the authentically sporty soul of the Itama brand, with essential lines and large living spaces for enjoying navigation in total freedom.
The last two premieres are the models presented this spring at the Venice Boat Show: the spacious and refined widebody Ferretti Yachts 940; and the Pershing GTX70, a compact and dynamic sport utility yacht and the newest addition to the GTX range. As for Ferretti Group's sailing yachts, Wally will be present with the wallywind110 in the dedicated area at Port Canto.
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