Ferretti Group reports over €1bn in sales for its 2022 fiscal year

news

by Superyacht Investor Contributor

9 March 2023

Italian shipbuilder Ferretti Group has reported €1.03bn ($1.09bn) in sales for its 2022 fiscal year ending December 31st, up 14.6% from 2021.

The firm said this reflected a 19.6% increase in orders compared with 2021, totalling around €1.162bn (€1.229bn). The business finished the year with a profit of €60.5m ($63.9m).

Alberto Galassi, CEO, Ferretti Group said: “The luxury yachting market is constantly expanding and we have good reason to believe that the results of the coming years will be increasingly positive.”

The firm’s order backlog now stands at €1.3bn as of December 31st, 2022, a 27.6% increase compared with the same time last year. Galassi said this was due to a “significant” increase in the number of orders signed in 2022.

Ferretti Group’s Superyachts Division reached orders totalling €384.6m, equal to 29.7% of the total order backlog and an increase of €80.5m from 2021. It brought in €95.4m of revenue in 2022 alone.

Across the group’s seven brands, Europe, the Middle East and Africa generated the most revenue in 2022 with €376.7m, followed closely by the Americas with €372.5m.

Notably, whilst the Asia-Pacific region may have generated the least amount of revenue with €95.9m, it is almost double the region’s total revenue of €49.3m for 2021.

Ferretti’s net cash position has improved too, from €93m cash in 2021 to cash in 2022. Galassi said that the company’s focus on investments in innovation and sustainability will ensure its success in the future.

“Magic formulas do not exist, but with these numbers and with the winning factors I have just mentioned, I can guarantee our shareholders and our customers that theirs is and will remain a winning choice,” he said.

Ferretti Group’s 2022 – at a glance