Ferretti Group at the Cannes Yachting Festival 2023

Ferretti Group

Ferretti Group reports the numbers achieved, its new products and major projects. These were the main take-outs from the traditional press conference held on the opening day of the Cannes Yachting Festival, the European boat show that each year attracts owners and enthusiasts from around the globe.

To this year’s event, the Group has brought a fleet of 20 yachts, including five world premieres for the Riva, Wally, Pershing and Ferretti Yachts brands.

Financial results of the shipyard

2023 is a particularly important year for Ferretti Group which, after closing the 2022 financial year with good 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, over 50% of the share capital is traded in the market, making Ferretti Group a public company backed by Italian and international investors.

This has enabled the Group to continue to grow: 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 order backlog at June 30 increased to €1.410 billion, a rise of about 15.8% on June 30, 2022 (when it stood at €1.2 billion).

Ferretti Group
Alberto Galassi

New projects and products

But this is also a year of 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 product level: after the 25 new models launched in the three-year period from 2020 to 2022, the 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 in practice translates into the implementation of energy efficiency solutions and an across-the-board reduction in onboard consumption both when under way and at anchor.

Ferretti’ premiers at the Cannes exhibition

ferretti cannes yachtingThe 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 but elegant design; Ferretti Yachts 1000 SkyDeck, newly styled for 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 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 and function.

In addition, Wally introduces the design for a new sailing yacht, a 51-foot pure racer: the wallyrocket51.