Ferretti Group at the Cannes Yachting Festival with record profitability and 6 premieres.

Category    

Date     September 10 2024

- The Group continues to drive growth with the best result ever in terms of profitability, achieved in the first half of 2024 and the appointment of the new Chairman of the Board of Directors Jiang Kui.
- Objectives include the expansion of the made-to-measure range towards larger models, reflecting the latest industry trends with innovative, personalised projects.

 
Cannes, September 10, 2024 – Ferretti Group welcomes in the new yachting season with excellent financial results and takes 25 magnificent boats to the Cannes Yachting Festival, including no less than 6 premieres for the Custom Line, Riva, Wally, Pershing and Ferretti Yachts brands.
The show, which opens today and ends on September 15, plays host to the customary press conference focusing on various topics, from the Group’s strategic vision to the many product developments.

“We’re Ferretti Group and we have the world’s best known and strongest brands. Every owner, every boat show expects to see ever more beautiful boats from us that they can fall in love with at first sight and for many years to come. As is the case here at Cannes, where we’re showing a fleet that sets superlative standards, with six premieres,” said Ferretti Group CEO Alberto Galassi. “The record numbers and results allow us to base our planning and production on a long-term vision that recognises, for example, demand for ever larger boats tailor-made to meet customers’ wishes. With the new acquisitions and the expansion of the shipyards we can realize every dream: Ferretti Group's horizon is becoming more and more interesting and full of satisfaction.”

At the yachting season’s first event, Ferretti Group is showing an extraordinary fleet with 6 premieres, including the stand-out Custom Line Navetta 38, a made-to-measure yacht that offers an extraordinary and functional cruising experience resulting from seamless continuity between interiors and exteriors and an extendible beach club.

Pershing GTX80 is the ideal model to deliver comfort and fun, with harmoniously connected spaces and a 23-square-metre sundeck, enhanced by the SeaScape feature on the GTX Series of sporty yachts that combine elegance, space and the signature Pershing thrill. 

A new model in the range that takes the ‘Just like home’ concept to an unexplored level, Ferretti Yachts INFYNITO 80 showcases sustainable innovation thanks to the Group’s F.S.E.A. technology (Ferretti Sustainable Enhanced Architecture), while the large covered outdoor spaces feature a fluid continuity between interiors and exteriors.

But the brand is more than INFYNITO and also presents the new Ferretti Yachts 670. After a design make-over, this yacht offers an optimal cruising experience thanks to the combination of optimised volumes and light-filled interiors for maximum liveability and comfort.

Riva walks the runway with the perfect mix of innovation and heritage with the evolution of the first prototype created in late 2022: Riva El-Iseo, the brand’s magnificently designed, first full-electric powerboat, fitted with an electric motor and lithium batteries.

Important international debuts for Wally too, not least the wallywhy100, a yacht offering extreme comfort with her single-level configuration and an incredible glazed superstructure, while the extending beach area and large windows create a luxury experience in seamless communication with the water.

Finally, the wallypower50 is a masterpiece of speed, flexibility and practicality, with powerful engines and comfortable spaces for use in a wide variety of roles, from support vessel (a large tender) to family cruiser. 

Riding the wave of solid growth in 2023 and a listing on Euronext Milan in addition to the Hong Kong Stock Exchange, Ferretti Group is entering a new stage of range development and expansion, with the strength of a public company supported by Italian and international investors.

The Group’s commitment to this is confirmed by great economic performance in the first half: net revenues new yachts of €611.0 million (+7.7%), excellent adjusted EBITDA at €96.7 million, with an increase of 15.9% on the first half of 2023, and net profit up 7.6% to €44.0 million. The order intake stands at €514.4 million for the first six months of the year, signalling a new growth trend, while the backlog rose to €1.5 billion, up 6.0% on the June 30, 2023 figure.

After dedicating the start of the year to the new and refurbished production sites, including the Ancona Superyacht Yard and the La Spezia and Ravenna shipyards, Ferretti Group’s 2024 continues by concentrating on the expansion of the made-to-measure offer to embrace larger models also in the superyacht segment with alloy hulls models, driven by an ongoing focus on new concepts and trends in contemporary yachting.

This broad perspective features the Group’s iconic brands, including Riva, Wally, Pershing and Custom Line, with a product strategy that is planning over 25 new launches from 2024 to 2026, the result of a Research & Development drive and strategic collaborations to implement state-of-the-art technology.

Prestigious luxury brands will work with Ferretti Group throughout the Show: Range Rover is confirmed as official partner together with private aviation leader Flexjet, plus Frette, Venini and Perennials, while RODA For You and Ethimo are providing their refined outdoor furniture. The numerous Italian partners include Dolce & Gabbana, the designer of the Group’s tailor-made staff uniforms, Lavazza with the brand’s new intense creations, and La Scolca for fine wines to celebrate with. The line-up is completed by Yacht Club de Monaco, Bang&Olufsen, Atelier Rebul, Torello and Seabob.