Ferretti Group sees nine-month profits tumble

Italian yacht maker Ferretti Group saw its nine-month profits fall to €61m ($71m) from €62.2m last year as 2025 shows a tale of two markets with the composite market under 30m struggling while made-to-measure yachts (30-43m) and superyacht segments witnessing a boom.

Ferretti’s CEO Alberto Galassi said the “improved macroeconomic and geopolitical environment has helped create more favourable conditions, allowing us to seize opportunities more effectively.”

Ferretti’s overall revenue during the nine months saw an uptick of just €22m to €887m from €865m last year. It witnessed a major rebalancing in revenue base during the nine months both from a segment as well a geographic perspective.

Segment-wise breakdown of the revenue showed made-to-measure yachts taking over composite yachts as the leading contributor to the total. Revenue from made-to-measure yachts was €363m (41% of the revenue), followed by composite yachts €322m (36% of the revenue) and €156m from superyachts. On a year-on-year basis, revenue from composite yachts tumbled 16.4% year-over-year while that from made-to-measure yachts and superyachts were up 13.9% and 33.2%, respectively.

Galassi pinned the better performance in made-to-measure and superyachts to “spending behaviours that defy market trends, contrasting with the aspirational luxury segment. The global yachting industry remains resilient amid geopolitical and macroeconomic uncertainty, highlighting its stability and strength”.

The company said that it has decided to remain price competitive in yachts below 24m.

Geographic breakdown showed a similar realignment in revenue base. Europe’s contribution to the revenue was down to 42% (50.7% last year) while that of the MEA stood at 32% (19.1% last year). The remainder came from APAC and Americas.

Ferretti’s adjusted EBITDA during the nine months was up 2.5%YoY to €141.7m – translating to adjusted EBITDA margin of 16%.

In terms of order backlog, the company’s tally rose 12.9YoY to €1.5bn, driven by strong growth in made-to-measure (up 23.9%) and super yachts (up 29.5%) segments. Meanwhile, the company’s net backlog reached €794.7m, up 4.5% from June 2025 (second quarter of 2025).

Despite lower revenue growth and profitability, the company maintained its net revenue guidance in the range of €1.2-1.24bn with adjusted EBITDA target range of €201-207m.