Outstanding numbers, important new products and major projects were the main takeaways from the traditional Ferretti Group press conference held on the opening day of the Cannes Yachting Festival.
For the 2023 Cannes Yachting Festival, the Ferretti Group brought a breathtaking fleet of 20 magnificent yachts, which included five world premieres for the Riva, Wally, Pershing and Ferretti Yachts brands.
2023 is an important year for the 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, more than 50% of the share capital is now traded in the market, making the Group a public company.
This is unique in 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 six-month period.
As a result, the backlog of orders as of June 30 increased to €1.410 billion, a rise of about 15.8% on June 30, 2022 (when it stood at €1.2 billion).
2023 will be a year of significant 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 the product level: after the 25 new models launched in the three years 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 translates into implementing energy efficiency solutions and an across-the-board reduction in onboard consumption both when underway 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 unveiled the design for a new sailing yacht, a 51-foot pure racer called 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 are 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 investing in new shipyards and upgrading our existing sites so that production processes and final products are increasingly aligned with sustainability standards. This long-standing commitment 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.
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