Ferretti Group superyachts orderbook grows 26%
Ferretti Group grew its superyacht orderbook by 26% to €370.5m at the end of June from €293m at the end of 2021.
Demand for its smaller yachts also rose with the company’s total backlog now at €1.2b, up 30%.
“The market is at an extraordinary point,” said Alberto Galassi, CEO, Ferretti Group. “Although our strong growth owes particularly to our hard work.”
Superyachts revenues rose to €48.9m compared for the half year from €39.1m. This now means superyachts now make up 9.1% of Ferretti Group’s €534.9m total half-year sales. In 2021, superyachts accounted for 8.5% of the group.
In a statement it said: “Covid 19 has to a certain extent, changed the ‘traditional’ customer perception, and significantly increased the market desire for yachts, further stimulating industry growth with a trend which is expected to become a ‘new normal.’”
Ferretti Group says that it has a 24% market share for made-to-measure yachts above 100ft.
The Ferretti Group spent €260.8m on raw materials and consumables, a 23.1% increase from €211.9m last year. It says this is a result of the rise in production activities, driven by the increased orders.
Ferretti Group had an EBITDA of €96million up 30% in the first half of 2021. It had €415.8m in cash and a net profit of €29.9m.
In a statement Ferreiit said: “Covid 19 has to a certain extent, changed the ‘traditional’ customer perception, and significantly increased the market desire for yachts, further stimulating industry growth with a trend which is expected to become a ‘new normal.’”
The Ferretti Group businesses:
Ferretti Yachts – The Group’s flagship brand. Ferretti Yachts specialises
Pershing – In 1998, Cantieri Navali dell Adriatico joined the group, which owned the Pershing brand. Pershing specialises in luxury motor yachts up to 140m.
Riva – Ferretti acquired 100% of the share capital of the shipyard, Riva in 2000. Riva builds superyachts up to 130m.
Custom Line – In 1996, Ferretti bought Custom Line, builders of 28m to 40m fibreglass yachts.
CRN – In 1999, the group acquired CRN, a specialist builder of superyachts over 30m.
Wally – Acquired by Ferretti in January 2019, Wally specialises in sailing yachts whilst also building 24m motor yachts.
Itama – The group acquired small open yacht builders Cantieri Navali Itama 2004.